Project portfolio management is the process by which an organization focuses its limited resources on the development of new products and operational enhancements. It is primarily responsible for the evaluation and prioritization of current and prospective projects together with other on-going initiatives. Its functions also include accelerating, decelerating, or terminating projects based on evolving organizational requirements. The project portfolio management process is regarded as an on-going process rather than an evaluation that is conducted at specific review points only.
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