The History of Project Portfolio Management:

• In 1938, John Burr Williams wrote "The Theory of Investment Value.“

• In 1942, Benjamin Graham wrote the “Intelligent Investor,” and became known as the father of Value Investing

• In 1952, Harry Markowitz described the concept of Modern Portfolio Theory in his paper, “Portfolio Selection.”

• In 1990, Markowitz won the Noble Prize with Miller and Sharpe.

• In 1981, F. Warren McFarlan applied MPT to IT investment management.

• In 1994, GAO issued a report entitled, “Improving Mission Performance Through Strategic Information Management.”

• In 1996, Congress enacted the Clinger-Cohen Act – IT Management Reform Act

• In 1998, GAO issued another report entitled, “Executive Guide: Measuring Performance and Demonstrating Results of Information Technology Investments.”

• In 2000, GAO published the IT Investment Management Framework

• In 2012, OMB launch PortfolioStat