Project portfolio management is always described as an approach or method that helps organizations to achieve their business goals and objectives. There are many books and articles concentrating on this merit of project portfolio management. Nevertheless the concentration of this paper is to identify and evaluate the project portfolio management in a new aspect which seems less focused.

The main aim of this research is to analyze the impact of applying project portfolio management on project success rate. It means that not only project portfolio management helps organizations to achieve their business goals and objectives, but also it helps them to improve their project success rate.

In this paper, project success criteria are defined and different project portfolio management processes and functions are identified. Then based on a clear survey, the impact of applying project portfolio management on project success rate is evaluated in different levels of project portfolio management maturity levels.

According to research findings, there is a strong coefficient correlation between project success and project portfolio management maturity levels. In other words, increasing the maturity level of project portfolio management leads in improving project success rate.