Valuing Non-commercial Projects for Portfolio Decision Making

Organisations involved with non-commercial projects are under increasing pressure to improve the value, transparency and accountability in their management and funding of projects. The outcomes from non-commercial projects often have significant benefits to society, however resources are limited and organisations are under pressure to deliver the expected value from non-commercial projects. Project Portfolio Management (PPM) approaches, where portfolio value is managed holistically, have strong appeal as methods to improve the overall value and meet governance requirements in non-commercial settings. There is strong interest in PPM in the non-commercial sector and scope for PPM to make a large positive contribution, however methods to define value in most existing PPM frameworks are tailored for commercial contexts. This paper reports on non-financial and non-commercial value measurement approaches to inform the tailoring of PPM approaches for non-commercial project contexts