In article the description of process of formation and functioning of the integrated economic systems is given, base elements and development factors are allocated, is resulted corporate governance approaches at various stages of life cycle of development. The concept of a vector of development of the integrated economic system which base tool is the development portfolio which structure includes the projects potentially reflecting strategic interests of participants IES in base directions of development is formulated. Requirements and conditions of formation of a vector and a development portfolio are allocated and proved, the generalized formulation of managerial process is given by a development portfolio the concept of a portfolio of development is proved, mechanisms of the coordination of structure of a portfolio and criteria of its efficiency are defined.