Project and project portfolios are part of the strategic management of the firm as they lead to successful strategy implementation. Multifaceted benefits and goals of a portfolio must be set before the selection of projects in order to meet the firm’s objectives. Corporate strategy is made on a business level and filtered down to the portfolio and project level. The firm’s resources have to be allocated to the portfolio in line with the strategy. Portfolios are analyzed by the consistency of the project portfolio with the corporate and the business strategy. The project evaluation and portfolio selection are addressed by the degree of formalization which analyses the consistent application to all projects. Project portfolio structuring should consist of consistency, integration, formalization and diligence.