Series Vol. 7 , 13 September 2023
* Author to whom correspondence should be addressed.
Project Portfolio Management (PPM) is a subsidiary of project management. It is used to control and coordinate the projects in various organizations' portfolios with clear objectives of maximizing the project results, balancing portfolio threats, and aligning the projects to meet the business's strategic aims. In many organizations, PPM is ranked on a higher level than the project management concept because the goal of PPM is to achieve the strategic objectives of an organization. However, risks typically arise during project implementation and management. The project managers constantly work to minimize the project risks while simultaneously maximizing the intended values of a given project. The project management teams should manage the risks while achieving the strategic goals and objectives of an organization. This paper discusses the relationship between PPM and risk management during the project implementation process. The paper explored the use of a systematic literature review to come up with these critical findings. The author recommends that there's a need to use empirical data to validate the existing theories and published literature findings. The project Portfolio Risk Management (PPRM) has practical and theoretical approaches in risk management (RM), decision theory, and modern portfolio theory. The use of a systematic literature review approach was used in the execution of this study to gain more insights into the influence of risks on project portfolio and success, identification of the project portfolio risks, and the management of risks in the project portfolio management context.
project portfolio, project management, risk management, investment portfolio, systematic literature review
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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.