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Research

29 APR 2018

Construction project portfolio management tool

This paper presents a study, which is a granted research project, aimed at supporting portfolio management of construction projects as a response to this need and current issues in portfolio management. Within this context a tool has been generated (COPPMAN - Construction Project Portfolio Management) that would meet the requirements in this area.

The tool is believed to help professionals with its advantages in better visualisation and more realistic analysis of portfolios considering dependencies between projects related with resources, risks, learning potential and outputs.

Most of the today’s construction organisations are executing several projects concurrently; however, their management routines do not respond to the need of concurrent execution of projects. Portfolio management enables effective management of the right projects for the organisation considering its resources, capabilities, strategic objectives, environmental factors, etc.

Tools to support decision-making at the portfolio level are needed for successful project management, portfolio management and strategic management of companies; however, there have been very scarce studies responding to this need in the industry.

This study reports fundamentals of a tool (alpha version) that has been designed as a decision support tool for portfolio management specific for construction companies. The tool (COPPMAN) will be improved by further testing its validity, reliability and usability within construction companies with real project portfolios. The final version of the tool is believed to be useful for adoption of portfolio management principles in construction companies by capturing project knowledge, enabling analysis of portfolios considering interdependencies between projects, enabling selection of the best portfolio considering strategic priorities of the company and facilitating decision-making by providing visual representations of alternative scenarios.

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