Where portfolio management meets strategic planning

A recent article followed by a survey, published by Mc Kinsey ( http://www.mckinseyquarterly.com/Strategic_planning_Three_tips_for_2009_... ) confirm the need for a more rigorous approval and monitoring process of projects and capital expenditure.
Well, this is precisely what the project portfolio management process does. So if your company has not yet formalized this process yet, the current crisis might be the good opportunity to implement it. This process will make your company more adaptive to the turbulent outside world and maximise your chance of success.