Management of intellectual capital is an important issue in knowledge
intensive organizations. Part of this is the composition of the
optimal project portfolio the organization will carry out in the
future. Standard methods that guide this process mostly focus on
project selection on the basis of expected returns. However, in many
cases other strategic factors should be considered in their
interdependence such as customer satisfaction, reputation, and
development of core competences.
In this paper we present a tool for the selection of a project
portfolio, explicitly taking into account the balancing of these
strategic factors. The point of departure is the intellectual capital
scorecard in which the indicators are periodically measured against a
target; the scores constitute the input of a programming model. From
the optimal portfolio computed, objectives for management can be
derived. The method is illustrated in the case of R&D departments