Skip to main content

Risk and Uncertainty in Project Portfolio Management

  • Conference paper
  • First Online:

Part of the book series: Lecture Notes in Electrical Engineering ((LNEE,volume 218))

Abstract

In the new era, project portfolio management (PPM) has become popular in the world, and is being applied in many different kinds of enterprises. More and more executives gradually find that it is not enough to do the projects right. How to select and to do the right projects attracts more attention. It is very important to identify and manage the risks and uncertainties of a portfolio. In this paper, we review the history of PPM, and risk management in PPM, and then we propose a portfolio risk and uncertainty management process.

This is a preview of subscription content, log in via an institution.

Buying options

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD   219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD   219.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

References

  1. Harvey L (2005) Project portfolio management a practical guide to selecting projects, managing portfolios, and maximizing benefits, vol 24. Jossey-Bass, San Francisco, pp 511–513

    Google Scholar 

  2. Reyck BD (2005) The impact of project portfolio management on information technology projects. Int J Project Manage 23:524–537

    Article  Google Scholar 

  3. Mikkola JH (2001) Portfolio management of R&D projects: implications for innovation management. Technovation 21:423–435

    Article  Google Scholar 

  4. Huang YH, Wu JH (2008) A portfolio risk analysis on electricity supply planning. Energy Policy 36:627–641

    Article  MathSciNet  Google Scholar 

  5. Zapata JC (2008) Impact of tactical and operational policies in the selection of a new product portfolio. Comput Chem Eng 15:307–319

    Article  Google Scholar 

  6. Costa HR (2007) Evaluating software project portfolio risks. J Syst Softw 80:16–31

    Article  Google Scholar 

  7. Blichfeldt BS, Eskerod P (2008) Project portfolio management—There’s more to it than what management enacts. Int J Project Manage 26:357–365

    Article  Google Scholar 

  8. Ross JG (2004) Risk and uncertainty in portfolio characterization. J Petrol Sci Eng 44:41–53

    Article  Google Scholar 

  9. Raftery J (1996) Risk analysis in project management, vol 24. E&FN Spon, an imprint of Chapman and Hall, pp 151–155

    Google Scholar 

  10. PMI (2000) PMBOK guide: a guide to the project management body of knowledge, project management institute (PMI). Pennsylvania 63:241–245

    Google Scholar 

  11. Heldman K (2005) Project manager’s spotlightl on risk management, San Francisco London, 11:2–3

    Google Scholar 

  12. KLN (2003) The American Heritage® Dictionary of the English Language, vol 16, 4th edn. Houghton Mifflin Company, pp 93–94

    Google Scholar 

  13. Costa HR (2008) Evaluating software project portfolio risks. J Syst Soft 80:16–31

    Article  Google Scholar 

  14. Chapman CB (1991) Risk, in investment, procurement and performance in construction, vol 12. (eds) Venmore-Rowland P, Brandon P, Mole T) E &FN Spon (Chapman & Hall), London, pp 259–275

    Google Scholar 

  15. Cooper DF (2005) Project risk management guidelines managing risk in large projects and complex procurements. Wiley 62:762–764

    Google Scholar 

  16. Koller G (2005) Risk assessment and decision making in business and industry: a practical guide, vol 15. Chapman & Hall/CRC, pp 24–26

    Google Scholar 

  17. Heldman K (2005) Project manager’s spotlight on risk management, vol 5. San Francisco, London, pp 2–3

    Google Scholar 

  18. Ross JG (2004) Risk and uncertainty in portfolio characterization. J Petrol Sci Eng 44:41–53

    Article  Google Scholar 

  19. El-Sayegh SM (2007) Risk assessment and allocation in the UAE construction industry. Int J Project Manage 725:291–300

    Google Scholar 

  20. Gallati RR (2003) Risk management and capital adequacy, vol 12. McGraw-Hill, New York, pp 5–8

    Google Scholar 

  21. The Institute of Risk Management (2002) A Risk Management Standard 03:14–15

    Google Scholar 

  22. Wideman RM (1993) Project and program risk management: a guide to managing risks and opportunities. PMI 2:1–3

    Google Scholar 

  23. Parth F (2007) The art of managing risk in your project portfolio, retrieved from www.ama.us 84:152–155

  24. Khan S (2006) How to reduce risk in project schedules and portfolios. PM World Today Tips Tech 82:52–55

    Google Scholar 

  25. Rajagopal S (2008) Project portfolio management leading the corporate vision. Palgrave Macmillan 13:134–136

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Na Guo .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2013 Springer-Verlag London

About this paper

Cite this paper

Guo, N., Yu, S. (2013). Risk and Uncertainty in Project Portfolio Management. In: Zhong, Z. (eds) Proceedings of the International Conference on Information Engineering and Applications (IEA) 2012. Lecture Notes in Electrical Engineering, vol 218. Springer, London. https://doi.org/10.1007/978-1-4471-4847-0_100

Download citation

  • DOI: https://doi.org/10.1007/978-1-4471-4847-0_100

  • Published:

  • Publisher Name: Springer, London

  • Print ISBN: 978-1-4471-4846-3

  • Online ISBN: 978-1-4471-4847-0

  • eBook Packages: EngineeringEngineering (R0)

Publish with us

Policies and ethics