The single number that ranks work by what it returns on your scarcest resource, the constraint.
Why adding more projects past a point reduces throughput: the capacity paradox in one idea.
The distance between strategy and delivery, named as an economics problem rather than a discipline problem.
Why an on-time, on-budget project can still destroy value, and what a portfolio is really optimizing for.
A portfolio can book every dollar it saves and none of the dollars it never earned, so it optimizes the half of the ledger it can see.
The rule that lets small work skip the business case is the rule that lets it consume your most constrained capacity unpriced.
Every ranking method is a ratio, and we audit only the cost half. The projects nobody can check keep winning your scarcest capacity.
Two teams, the same utilization, very different speed. Smoothing the unevenness buys more throughput than adding people does.
Elevating your constraint returns a fraction of what you paid for, because you buy the gap to the next constraint, not the increase.
Adding people to your constraint makes you slower first. How deep the dip goes, how long it lasts, and the cancellation trap.