In 2011, we saw a spate of scandals involving executives accused of poor project management. Halfway through 2012, headlines are full of news about cost overruns on major government and corporate projects. Yet we know that poor decisions and poor project planning cost billions of dollars and they are usually a result of poorly defined objectives or a failure to meet deadlines and budgets.

Experts agree that project management and a project portfolio framework help win back a competitive advantage and cope with the increasing complexity of business management. This is due to the rigour they provide and also the flexibility they offer in adapting to a wide range of circumstances. Effective project and project portfolio management is essential today for companies and organizations that want to achieve efficient management of their resources.

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