Generation of Project Portfolio Benefits: Linking Activities to Particularized Benefits

Project portfolio benefits (PPBs) serve as a critical indicator of the efficiency and value realization of project portfolio management (PPM) practices. Despite their importance, the mechanisms through which PPBs are generated remain insufficiently understood. To address this gap, this study develops a comprehensive framework that explicitly links specific PPM process activities to the formation of particularized benefits. The framework is constructed through a combination of a systematic literature review, focus group discussions, and a questionnaire survey, ensuring both theoretical grounding and empirical relevance. The results identify detailed activity categories, PPB formation paths, and their dynamic characteristics, thereby providing a deeper understanding of the operational mechanisms underlying PPB generation. Theoretically, this study enriches the PPM literature by clarifying how PPBs emerge from structured process interactions and dynamic linkages among portfolio activities. Practically, the proposed framework offers actionable guidance for integrating benefit-oriented thinking into existing PPM methods and models, supporting organizations in effectively managing, monitoring, and realizing portfolio benefits.