This is a practical, step-by-step guide to evaluating, initiating, and effectively managing project portfolios. Today's organizations are turning their focus from individual projects to strategically aligned and balanced project portfolios. To do so successfully, they must have a clearly defined investment strategy for funding their projects to minimize risks and maximize returns. This book outlines the three key steps to achieving a profitable project portfolio: defining your project investment strategy, selecting the right projects, and effectively managing them under the umbrella of a portfolio. It presents a step-by-step methodology for managing project portfolios, including tools and techniques to initiate, analyze, rank, prioritize, select, reprioritize, terminate/complete and close the projects under the purview of a portfolio.