Project portfolio management abides by a systematic approach at surveying the ongoing projects to filter out the high-yielding among them and reorganize budget expenditure simultaneously. Broadly speaking, it comprises of the following 7 steps.

 

1. Setting the broader strategy and creating an inventory.
2. Assembling the ongoing projects.
3. Filtering and prioritization of projects that meet the broader objective.
4. Reformation and revamp of filtered projects.
5. Budget amendment.
6. Risk analysis and benefit scoping
7. Generating portfolio reports intervally.