What Has Been Done So Far? Review of Previous Work on the Portfolio Problem
This chapter offers a literature review of the project portfolio selection problem. We summarize several streams of research, which we categorize along the dimensions of static versus dynamic time considerations, and strategic versus operational level of decision making (Figure 2.1). The Figure shows that little theoretical work has been done at the strategic and dynamic levels of decision making, which is where the contribution of this book lies. We discuss the main findings and limitations of previous work in Section 2 for the operational decision making level and Section 3 for the strategic decision making level. Section 4 gives an example of a qualitative strategic “derivation” of a portfolio from the business strategy. Finally, Section 5 draws some implications of previous work for this book.
KeywordsProduct Line Nash Hedging
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