Study On New Projects Selection Considering Synergistic Relationships Under Project Portfolio Deviation Orientation

The project portfolio carries the enterprise’ strategic objectives and is the main way for the enterprise to implement its strategy.However,the long implementation cycle,the complex management process,and the changing external environment have led to deviations between the actual and expected strategic objectives of the project portfolio,resulting in a significant decline in the enterprise’s strategic achievement rate.Accordingly,identifying deviations in the project portfolio implementation and adding new projects to remedy deviations have become an urgent need to achieve the enterprise’s strategy in the current trend of project portfolio management.Project portfolio synergy can promote the implementation of enterprise strategy,and the addition of new projects can change the synergistic relationships between projects.Therefore,owing to the identified project portfolio deviation,the maximal realization of the enterprise strategy while considering synergistic relationships is an urgent issue for the enterprise to address when selecting the optimal new projects.To address the above problem,this study analyzes the situation of project portfolio deviation and proposes a procedure for the selection of new projects which considers synergistic relationships under the project portfolio deviation orientation.Firstly,the enterprise strategy is divided into measurable and achievable strategic objectives using the sustainable balanced scorecard,and a system of enterprise strategic objectives is constructed.On this basis,strategic alignment theory is adopted to analyze the degree of project portfolio deviation,laying the foundation for the selection of new projects.Secondly,a procedure for the selection of new projects is constructed to evaluate candidate new projects in three steps to obtain the optimal new project that can compensate for the deviation.The first step is to preliminarily screen candidate new projects using financial constraints.Based on the above screening results,the second step is to determine whether the new projects can compensate for the deviation according to the strategic alignment theory,obtaining a feasible set of new projects that can compensate for the deviation.The third step is to analyze the synergy between feasible new project sets and projects within the project portfolio,quantify the contribution of synergy to the achievement of strategic objectives,and construct a system dynamics model for selecting new projects.In the light of the strategic realization prediction results of the model,the optimal new projects are judged.Finally,an example is given to illustrate the application steps and validate the effectiveness of the project portfolio deviation identification method and the procedure for the selection of new projects.Different from the existing research on project portfolio management,which ignores the deviation between the actual realization of strategic objectives and the expected realization of strategic objectives in project portfolio implementation,this study takes new projects as the research object,combines qualitative and quantitative methods to analyze and quantify the project portfolio deviation,and provides a procedure for the selection of new projects to compensate for the project portfolio deviation.This expands the research perspective of current project portfolio management,focusing on deviations during project portfolio implementation,which provides guidance and tools for managers to deal with deviations.