Managing a portfolio of IT projects is an important capability for firms and their managers. The classroom simulation described here provides students in an MBA information systems management/strategy course with the opportunity to deepen their understanding of the key concepts that should be considered in managing an IT portfolio and helps students appreciate the importance of taking a comprehensive view when building a firm's IT portfolio. Managing an IT portfolio involves considering a number of interdependent concepts and thus is a difficult capability to learn without context. The simulation is able to provide that context by creating a complex decision making setting in the classroom. This teaching tip provides a framework of key concepts in IT portfolio management (ITPM), describes the expected student background and classroom setting, guides the instructor through the implementation of the simulation, provides evidence of learning effectiveness and suggests next steps in the simulation's development. (Contains 1 figure and 1 table.)