This paper focuses towards examining the initial phases of new product development portfolio management supervising set of projects managed by a company. It also explores the selection of the most suitable projects from a series of candidates through a prioritisation criteria based on the available resources, the strategic objectives and the features of each product within the product lifecycle. Utilising a mixed methodology, the research proposes to develop a novel framework named project portfolio management practice (PPMP) within small and mid-sized project-based manufacturing companies, therefore providing a system that helps them increasing their product sales volume by ten-percent and improving the NPD-SCM alignment with PPM. Indeed, more empirical sources should be selected, with the aim of expanding the visions within any given product development environment. This generalisation aims to cover other industries, including manufacturing, service and product based environments to identify the proper measures for any type of project.