Recent literature approaches the management of IT project portfolios from a universalistic point of view, where a “one best way” of organizing is often promoted. Our research adopts a contingency approach to the management of IT project portfolios. We propose that the use of IT project portfolio management (IT PPM) practices varies by IS strategic impact (strategic grid framework). We expect that, because Portfolio Management contributes to organizational strategies and objectives, the strategic impact of future and existing IS influences the use of IT PPM practices. The results will allow the identification of the IT PPM practices used in IT departments in each quadrant of the strategic grid framework.