Project Portfolio Management lies between strategy formulation and implementation of the actual projects. The challenge in implementing projects and measuring results is that there can be disconnects at the transitions among these phases, and the most important thing is to develop a project portfolio management feedback loop.
Project Portfolio Management takes place in between strategy formulation and implementation of the actual projects. Projects are supposed to arise out of Organizational strategy is intended to set the general direction and lay out the guidance for determining the types and which projects to implement. Project Management resides in the realm of implementation and comes onto the scene after the strategic direction has been set, and after the project portfolio has been determined and prioritized. The challenge is that there can be disconnects at the transitions among these phases, and the most important thing is to develop a feedback loop.