Project Selection and Portfolio Management: Lessons from Successful Entrepreneurs
The Project Management Institute as well as the Product Development Management Association promote rigorous stage-gate oriented project selection and portfolio management techniques for the purpose of maximizing innovation and profitability. The intent of such processes is to incorporate an entrepreneurial thought process for vetting project investments. It is therefore of interest to analyze what processes actual entrepreneurs actually do when selecting opportunities that have led to success in business. This presentation presents lessons learned from interviews of over 100 entrepreneurs to understand how they selected the opportunities that made them successful.