In its strictest sense, the process of generating, developing and communicating ideas. In the context of PPM, ideation takes a broader meaning and includes the processes of evaluating, comparing and selecting ideas, and the grouping and merging these ideas into new project proposals, or extensions of existing projects.

Ideation plays a key strategic role in ppm, as it powers an organisation's innovation capacity, and thus conditions the sustainability and renewal of its portfolio(s) over time. The ideation management process can also determine the success or failure of a project, as empirical studies show that errors at the conception stage have the most sustainable impact.