Strategic fit and balance are NOT reasonable ways to choose projects
Despite what others are saying, you should not choose projects based on strategic fit (aka strategic alignment), and you should not use tools aimed at creating balanced project portfolios.
Scoring tools don't measure project value
Look at the aggregate scores for two projects. Now, combine the projects into a new project and score it. If the aggregate score for the combined project isn't the sum of the scores for the individual projects, what's being measured isn't even linearly proportional to project value.
Prioritizing means making optimal project decisions
The relevant mathematical theorem states that if independent projects are ranked based on the ratio of benefit to cost and selected from the top down, then the resulting project portfolio will create the greatest possible value (ignoring the error introduced if the portfolio doesn't consume the entire budget). Thus, to prioritize projects, it is necessary to:
For more detail, including how to accomplish this, read my papers.