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In today's fast-paced business environment, implementing strategies through programs, projects, and business-as-usual activities can be challenging for companies. The telecommunication industry, in particular, faces these challenges as it experiences the effects of digital transformation and fast-changing markets. It requires a flexible and adaptive approach to project portfolio management (PPM) to optimize investments and deliver value. This article presents a successful case study of a PPM process using the Stage-Gate model in a prominent telecommunications company that operates in a dynamic and fast-growing environment. The Stage-Gate PPM model comprises four stages: Proposal Selection, Selection of Nominated Demands, Prioritization, and Categorization of Projects. The model is unique as it can be adapted to different projects and incorporates elements of Agile approaches, such as Portfolio Sprint meetings and artefacts. The study demonstrates the importance of a well-defined PPM process in coordinating short-term and long-term activities and effectively allocating time, money, and resources. The Stage-Gate PPM model can potentially enhance project success rates and bring greater value to companies by ensuring the realization of suitable projects. This article contributes significantly to the existing literature on portfolio management, providing valuable insights and lessons applicable to other companies in the industry to enhance their portfolio management processes. Furthermore, this study can interest scholars and researchers seeking to explore effective portfolio management in other complex and dynamic environments. © 2023 Production Engineering Institute. All rights reserved.