Project Portfolio Management

The wide application of project management indicates its strong strength of living, and as times change, this paradigm is updating and becomes more thorough. At the beginning of this paper, with the actual experience of studying project management at France, the author makes a summary of project management situation in foreign countries, and then analyzes the necessity of regulating and developing project management in our country, for which the author put advice.Based on the analysis of related theories on project management and strategic management, this paper demonstrates the necessity of relating project management with strategies and put forward concept of enterprise project management. For this new project management paradigm, this paper explores one effective tool of bridging strategies and project management.This paper insists that project portfolio management can bridge projects and strategies. From such aspects as application position, benefits to organization, span life, the bridge function of project portfolio management is demonstrated.Finally, this paper illustrates the application of Project Portfolio Management in Decent Company. This illustration begins from company's business strategies, and goes to acquirement and evaluation of alternatives, then to development of project portfolio and assessment of portfolio options.