Can product modularization approaches help address challenges in technical project portfolio management? – Laying the foundations for a methodology transfer

Abstract

Formalized Project Portfolio Management (PPM) models struggle to provide comprehensive solutions to project selection, resource allocation and adaptability to dynamic technology project environments. In this article, we introduce a vision for a novel Modular Project Portfolio Management (MPPM) approach by drawing on well-established engineering methods for designing modular product architectures. We show how systems theory can be used to enable a transfer of methods from the area of engineering design and manufacturing to the area of PPM and how the concept of product modularity could help address challenges of existing PPM approaches. This lays the groundwork for the possible development of MPPM as a new and innovative methodology for managing complex technology and engineering project landscapes.

Keywords

• project portfolio management
• technology projects
• modular product architecture
• systems theory
• method transfer
• project selection