Project portfolio management in financial services: aligning systems and climate

Chris Storey and Paul Harborne

International Journal of Entrepreneurship and Innovation Management, 2012, vol. 16, issue 1/2, 98-113

Abstract: While a number of studies have analysed portfolio management in goods firms, few have focused on the processes and practices within service firms. This research project investigated the attitudes, approach and practices geared towards project portfolio management (PPM) in UK-based financial service firms. An exploratory research approach is undertaken via in-depth interviews with key informants in 24 leading financial service companies. Data was also collected on the tools employed for PPM and the performance of the project portfolio. The results revealed considerable variation in the approach and effectiveness of PPM. There were clearly unresolved problems with PPM including PPM not being within the company's strategic context; firms being focused on managing project risk rather than building a balanced portfolio; a lack of understanding of project interdependencies and firms' reluctance to cancel projects once they have started.

Keywords: portfolio management; project management; innovation; financial services; UK; United Kingdom; project risk; balanced portfolio; project interdependencies; project cancellation; risk management. (search for similar items in EconPapers)
Date: 2012
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