Thanks for sharing the scenarios. The first scenario would seem to lend itself to the PM actually being the portfolio manager rather than a project manager. I believe this is the direction was are heading. The SME will be a new role that we are calling a Business Representative/Analyst from IT. This role will provide the business case for the proposed projects. We plan to move to a quarterly portfolio selection process to accommodate the rapid pace of change that our current annual process fails to keep up with.