With the increase in globalization, integration of world markets, and rise in the concept of transnational corporations, the importance of project management has increased many folds. An efficient project management helps new enterprises to achieve competitiveness, speed of response, and closeness to customer demands by improving their flexibility and agility, while maintaining their productivity and quality. But for project management to be successful in the new competitive and dynamic environment management, systems should incorporate new characteristics. In these circumstances, the current challenge is to develop information and control systems for project management that exhibit intelligence, robustness and adaptation to the environment changes and disturbances. The introduction of multi-agent systems paradigms addresses these requirements, bringing the advantages of distribution, autonomy, scalability and re-usability. This paper proposes a distributed information and control system for project portfolio management that integrates strategic issues, planning and control into a community of software agents.