Project, Program, and Portfolio Management (P3M) in Renewable Energy Sources (RES)

There is a need to manage each sources and technologies of renewable energy individually. Each source of renewable energy and its related technologies comprises different projects or programs, which may not necessarily be interdependent or directly related. Management of RES projects and programs are necessary in order to achieve the national policy targets, which is established by different governments and policy makers. This management will result in deployment of RES and reduction of GHGs emissions, which is essential for the developing countries. By increasing the number of projects and programs in electricity generation by means of using various renewable energy technologies, the need for applying portfolio management in this context is obvious. Hence, portfolio management along with project and program management refers to the Project, Program, and Portfolio Management (P3M) due to different available projects, programs, and portfolios in RES. Moreover, there are many criteria in management of renewable energy projects, programs, and portfolios, which are described in following sections. These criteria should be considered efficiently and effectively in order to manage RES projects, programs, and portfolios