PPM (project and portfolio management) is a strategic prioritization methodology employed to analyze and manage current or proposed projects within an organization. The aim of PPM is to determine the best grouping and sequencing of projects to achieve organizations' business goals, in order to see them through from concept to completion.
Projects are typically analyzed based on the nature of the project, expected benefits and costs, resource consumption and their relationship to other priorities within an organization's wider portfolio of projects. Often, organizations will implement PPM software tools to aid in the decision-making process. PPM tools are used to enable visibility, standardization, measurement and process improvement. A strong IT governance structure is considered a crucial component of a project and portfolio management strategy as well.