Do the Right Projects
Portfolio Management is the process of developing inputs from Business Strategy into plans for delivery based on the business models which are to be achieved.
Large scale business change must be driven by an understanding of how business capabilities will develop to meet business vision.
Common mistakes include:
- Excessive focus on IT projects rather than on the development of wider business capabilities
- Lack of understanding of the capability gaps which must be closed to realise Business Strategy
- Prioritisation of initiatives on the basis of "who shouts the loudest"
How We Can Help
3 Critical Steps
These activities translate the business strategy into an understanding of the capabilities necessary to bring about the desired change. It provides measurable goals and a communication of a common direction.
Elaboration, Definition and Prioritisation
It is usual for businesses to undertake a number of change initiatives simultaneously. Invariably, the delivery of initiatives becomes disconnected from the real business priorities. Elaboration activities define the change initiatives in sufficient detail to enable them to be prioritised into a business-focused portfolio targeting the true objectives and ensuring the most appropriate use of human and financial resources.
The prioritised items from Elaboration are used to create a rolling twelve-month delivery plan. This includes a business unit view that also shows the operational impact of the change and the dependencies between the initiatives.