Project Portfolio Selection, The case of the Iranian Building Investment Holding

In most project driven organizations, portfolio management is integrated with project management to select projects in accordance with the strategies of the organization and its product innovation. This research initially refines the standard selection criteria through interviews with organization mangers and experts of the Iranian Building Investment Holding. These refined criteria were further prioritized based on field questionnaires and used as the basis for selecting the project portfolio in this Holding. The results indicate that the selected project portfolio was not always in line with organization strategies. The main reasons for this discrepancy include diversified holding activities, unmonitored expansion of the portfolio, and ad hoc decision making in response to the volatile economic environment.