Hybrid approach for project portfolio selection taking account of resources management and interactions between projects

From among numerous opportunities, organizations must select the projects they decide to pursue. The consequences of poor decisions can be extremely expensive. This is why many methods and models for project portfolio selection have been developed. In this paper, we propose a project portfolio selection approach that combines essentially a business strategy method with a scoring model. The financial method is also present of the fact that the scoring model considers the financial value as an important criterion. The proposed hybrid approach also includes recommendations on the selection criteria provided. Two criteria are identified: the value and risk, the third is at the option of the organization for more flexibility. The approach provides a phase control on two elements: the management of resources and interactions between projects.