Exploring the link between PPM implementation and company success in achieving strategic goals: An empirical framework

Abstract

Organisations are constantly under pressure to innovate and grow by successfully executing their business strategies. The ever-increasing rate of change in technology has implications for product lifecycles, cost pressures, expectations of higher quality, and a larger variety of products and services. These trends result in mounting pressures and a huge increase in complexity, as the drivers of technology must be managed to achieve a competitive advantage. Project portfolio management (PPM) is a solution for unravelling the complexities of multi-projects. In theory, PPM assists an organisation to achieve this competitive advantage through implementing its business strategy, balancing its portfolios, maximising value, and ensuring resource adequacy. There is, however, a lack of empirical evidence on the use and success of PPM approaches in South Africa. This article presents a framework that lays the foundation of an empirical study that will aim to explore the link between PPM implementation and company success in achieving strategic objectives. We base our framework on the factors of good practice in PPM, which include 1) single-project-level characteristics and activities; 2) multi-project-level characteristics and activities; 3) the link between projects and strategy process; and 4) availability and quality of project information.