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Objectives The aim of the article is to set the problem of forming the optimal value-oriented portfolio of the development of a complex system, taking into account the mutual influence of the components of the portfolio on each other. Material and methods The research used: project portfolio management methods; systems theory and system analysis (for the formalization of value-oriented management processes); mathematical modeling tools (for the formation of basic models of portfolio management). Results This article provides a basic methodological framework for portfolio management of organizational development. The conceptual framework for portfolio management has been formalized, where portfolio management processes are considered as a means of implementing strategic decisions. Conclusions The success of development portfolio management should not only be measured by the economic component, but also by the values that influence the sustainable development of the region. The current legal framework for the design and implementation of public projects in Ukraine is not up to date, as confirmed by the findings of international experts and domestic scientists.