Creating value with Portfolio Management

How do you justify the effort of Portfolio Management? Many organisations 'get it in a heartbeat'. For those that don't, this article describes creating value through portfolio management. It describes how portfolio management can evolve from concentrating on performance for projects and resources to addressing broader performance such as products or lines of business.
The increasing breadth of portfolio management benefit mirrors the philosophy of increasing capability that many organisations are now applying as they analyse their project management processes. Capability Maturity Models describe the state of an organisation in terms of its ability to operate effectively in a certain area of activity. Here we see how how increasing capability can apply in the domain or portfolio management.

Chief Project Officer: "
Yes or No - The Two Models for Implementing Project Portfolio Management
by Demian Entrekin, August 1, 2005"