Project Portfolio Management Governance Processes


An insider view on factors

leading to disintegration



By Mithun Nagawade, Dr. Pranab Pani, PhD, Dr. Monica Gallant, EdD

S P Jain School of Global Management

Dubai, United Arab Emirates


While there are numerous procedures in place for conducting and governing projects, there still is a lack of direction for controlling the entire collection of projects as a whole. Firms frequently appear incapable of correctly selecting and prioritizing the appropriate set of projects, as well as managing these projects consistently in order to achieve organization-wide goals. Thus, a frequent stumbling block for leaders managing portfolios (collection of projects, programs and operations) is a continual rate of failure. Existing literature does not claim to offer definitive answers to this question. Thus, this research study was undertaken to investigate the factors leading to disintegration of Project Portfolio Management (hereafter PPM) governance processes by interviewing top PPM leaders from around the world. The data was collected using interview method. The results revealed that the lack of PPM knowledge, formal training and lack of communication are among the major reasons of governance processes’ disintegration.

Keywords: Project Portfolio Management (PPM), Disintegration of PPM, Governance Process, Failure of PPM.

1.0 Introduction

Portfolio management, as defined by Project Management Institute, is ‘the central management of multiple portfolios which allows executive management to achieve organizational objectives through efficient decision making on portfolios, projects, programs and operations.’

While there are several rules outlining how to execute projects, there is still a lack of direction regarding how to govern the entire set of projects as a whole (Cooke-Davies, 2002). Firms frequently appear incapable of selecting and prioritizing the most appropriate set of projects (Gray&Larson, 2005), as well as managing these projects consistently in order to achieve organization-wide goals.  Thus, a frequent stumbling block for leaders managing portfolios and projects is a continual rate of failure. The existing literature does not claim to offer definitive answers to this question (Stratton, 2011).

Decisions and information accuracy are critical components of project portfolio management. As a result, the role of appropriate decisions made by governing authorities at each level becomes critical to the portfolio’s performance. Throughout the project’s lifecycle, from inception to completion, governing committee investment decisions would encompass risks, issues, revisions, best practices and actions taken. Very few studies are being conducted to determine the factors that contribute to the disintegration of Project Portfolio Governance Management Processes over the course of the portfolio’s lifecycle.

2.0 Review of Literature 

2.1 Background and Definition of Project, Program and Portfolio Management

Markowitz authored article on portfolio management in the 1950s, which was recognized with the 1990 Nobel Prize in Economics (Stratton,2011). Researchers and scholars continue to progress the discipline of PPM, with numerous articles and books published on the subject.

Markowitz’s work focused on the financial portfolio, that was primarily composed of bonds and stocks. However, it was not until 1952 that Markowitz (1952) published one of the earliest papers on portfolio selection in the field of finance. It also focused on the concept of implementing techniques similar to the investment optimization techniques. These techniques proved to be effective in the field of finance in project portfolios (Petrinska-Labudovikj, 2014). Two complementary, but distinct, forces influenced the evolution of the PPM concept. The first was the requirement for rational investment decisions that result in benefits for the organization, and the second was the requirement for resource allocation that ensures those benefits are realized effectively and efficiently (Lenos, 1996); (Young & Conboy, 2013).


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How to cite this paper: Nagawade, M., Pani, P., Gallant, M. (2022). Project Portfolio Management Governance Processes: An insider view on factors leading to disintegration; PM World Journal, Vol. XI, Issue X, October. Available online at https://pmworldlibrary.net/wp-content/uploads/2022/10/pmwj122-Oct2022-Nagawade-Pani-Gallant-PPM-Governance-Processes-an-insider-view.pdf

About the Authors

Mithun Nagawade, Primary Author

India and UAE


Mithun Nagawade is a research scholar and candidate for Doctorate of Business Administration at the S P Jain School of Global Management in Dubai.  He has 20 years of diversified experience in service outsourcing, consulting, Business Process Management, Legal Managed Services and IT enabled service industry. Currently, he works at Ernst & Young’s Tax, Technology and Transformation (GDS -TTT) as the lead for Global Project, Program and Portfolio Management. Prior to this, he has worked in USA with reputed organizations and Fortune 500 clients for several years. His specializations are in operations management, transformation, project, program and portfolio management, business analysis and transition of projects from onsite to offshore delivery centers. Mithun is one of the very few professionals with PMI’s PMP®, PgMP® and PfMP® certifications. His overall research includes creation of a novel model termed as ‘convergence and divergence’ matrix with in-depth analysis of PMI, IPMA, ISO 21504, AIPM and Axelos. Mithun can be contacted at mithun.nagawade@gmail.com


Dr. Pranab Pani, PhD, Co-Author

India and UAE


Dr. Pranab Pani is an Associate Professor of Economics and Statistics at S. P Jain School of Global Management, Dubai Campus. He is passionate about subjects like Business Statistics, Managerial Economics and Business Forecasting. He has earned his PhD in Economics from the reputed Indian Institute of Management, Ahmedabad, India. He can be contacted at pranab.pani@spjain.org


Dr. Monica Gallant, EdD, Co-Author

Australia and UAE


Dr. Monica Gallant is Associate Professor of Accounting and Assistant Dean, Executive MBA at S P Jain School of Global Management Dubai On-campus and Middle East Online. She has supervised many Doctorate research scholars on myriad topics like Accounting, Management and Leadership. Dr. Gallant is Chartered Professional Accountant with a Doctorate of Education, University of Southern Queensland, Australia.  She can be contacted at monica.gallant@spjain.org