Project-based work has become extremely popular over the past few years. This has resulted in many companies having multiple diverse projects that run simultaneously. However, for an increasing number of companies this can create a lack of control, increased departmental expenses as well as uncertainty regarding project prioritisation. A large project can require a project management application, but multiple projects require project portfolio management. A management tool for project portfolios is required to optimise company or departmental resources. This helps in taking correct decisions in strategically important projects and when deciding which projects should be closed or downgraded in priority. Make the correct decisions and use company resources on that which is strategically important. Consider one of the following solutions: