According to the Chaos Report 2015 [1] which measures project success for information technology projects, success rates for projects continue to be a problem and well below 50%. The group’s definition of a successful project was redefined in 2015 to include a measure of perceived value by the customer in addition to the triple constraint of delivering on time, within budget and to the required scope. As a result of adding perceived value project success rates further dropped by 7% [1]. It has been estimated that one third of the world’s economy is generated through projects [2]. The tangible benefits of projects may include increasing sales, improved efficiencies, improved profit margins and cash flows through increased revenue or reduced costs are amongst these. Intangible benefits might include areas of safety, improving customer service, relationships with stakeholders, and organizational capability [3]. Organizations are increasingly realizing that corporate strategy is delivered through projects, and selecting the right projects is key to their ability to deliver their strategic intent is required for strategic alignment [4]. Managers must decide how best to use available resources, manage the level of project and portfolio risk and other considerations such as strategic alignment in the selection and governance of projects. The decision making processes for project portfolio selection, tools and capability to select the chosen projects carefully to achieve the desired benefits will impact on project success [5]. In 2013, the Project Management Institute (PMI), a leading global project management association, reported that project failure rates remain high [6] and continue to be a global problem. Projects and programs are increasingly used by organizations across Australia to achieve corporate strategy with the scarcity of resources and the management of uncertainty being common problems shared by organizations.