In order to realize a clearly-defined vision, it’s critical to make the business initiative portfolio executable for building differentiated competencies to implement a series of good strategies.
Organizational capabilities enable strategy management; portfolio management builds differentiated business competencies. High performance organizations are able to rate/rank/optimize, and demonstrate the value of business program/portfolio management, with the goals to improve business management effectiveness, transparency, and resource efficiency.
Strategic focus: The rapid change and fierce competition is the new normal. Organizations today have to develop a dynamic strategic planning and accelerate the development cycle of loose-coupling capabilities. More organizations are looking for idea management integrations with portfolio management tools to ensure the ideas go straight from platforms into specialized systems or tools to help them re-categorize and integrate the portfolio of business initiatives for enhancing strategic focus, and accelerate business execution. Portfolio management is the governance discipline - about doing the right things, steering the organizations in the right directions and improving the overall business effectiveness via systematic problem-solving. Growth, balance harmony, etc, are all desired goals via the science and art of portfolio management.
In order to make the portfolio executable, an organization needs to make sure that enough resources are available to deliver the programs, talented professionals are put in the right positions, the processes are goal driven, and flexible, and also manage the interdependencies of the business initiatives via an effective architecture framework. In specific, strategic focus means focus on the decision-making process around which programs/initiative should be executed based on their alignment with the goals and objectives of the organization (long term or intermediate level); focus on multifaceted value clarification and preventing value leakage -getting increasingly more attention with large organizations that have poor visibility and control over their portfolio. Strong portfolio management enables strategic agility and unlock business speed.
Competency building: The business portfolio management is fundamentally an iterative cycle to design, build, scale and optimize business capabilities and refine unique organizational competency and achieve the desired effects under specified performance standards and conditions. Results are best as the processes are robust not only in terms of initiation, planning, execution, monitoring & controlling, closing as well as in portfolio/change management. A healthy portfolio is a right combination of strategic-capability development and operational capability optimization, with the goal to keep the business running smoothly without losing the further vision of long term prosperity.
The best strategy in the world is only as good as the outcomes it produces. Without effective program/portfolio management, you will have nothing to populate your balanced scorecard with! The great portfolio management helps to periodically review the strategy plans so as to be close to the strategic objectives in an ever-dynamic business environment. It's the aligned programs that produce the outcomes from seamless strategy execution. A set of unique business competencies can be built through the combination of talent, resources, processes, and technologies to perform a set of activities and achieve the high-performance business result. Hence, good program management is essential for successful strategy execution. The organization's long-term success is based on a set of differentiated capabilities and its core competency.
Potentiality exploration: Besides “SWOT” analysis, organizational strategy planning needs to leverage “trend” to make timely adjustments. Thus, potentialization is a significant dimension to explore in building an aggressive portfolio for leading business growth. A potentiality management framework provides an “executive” view including organizational strength/impact analysis about "what if" situations showing potential scale of business benefit to be driven from the portfolio based on different mixes of programs and projects, with reporting and alignment to strategy. All of the above should be supported by a robust, flexible and comprehensive set of tools to report and provide performance metrics, which allow the portfolio to be fine-tuned over time so that it delivers maximum strategic advantage to the organization
Potentiality is correlation with innovation. Therefore, a potentiality portfolio is an integral component of innovation management. The size and mix of the innovation initiatives depend on the business situation, strategic objectives and severity of external challenges or changes. Unlock organizational potentiality to boost breakthrough innovation, in fact, all competitive organizations should have a handful of "bets" in the breakthrough category. High potentiality means high risks. Technically, solid portfolio management offers the extensive configurability to provide the links to business strategy alignment, scenario planning, requirements management, resource management, risk management (progress, finance, quality, and change), comprehensive dashboard reporting, and tracking of benefits realization. Portfolio management processes are important, but it doesn't mean all product development should follow a prescribed process that stifles innovation.
In order to realize a clearly-defined vision, it’s critical to make the business initiative portfolio executable for building differentiated competencies to implement a series of good strategies. A portfolio management process itself is a governance process which is usually tailored to match the organization’s type and size of business, culture and habit, to make sure that enough resources are available, and the right fit talents are completely functioning to deliver solid business results consistently.
Strategic focus: The rapid change and fierce competition is the new normal. Organizations today have to develop a dynamic strategic planning and accelerate the development cycle of loose-coupling capabilities. More organizations are looking for idea management integrations with portfolio management tools to ensure the ideas go straight from platforms into specialized systems or tools to help them re-categorize and integrate the portfolio of business initiatives for enhancing strategic focus, and accelerate business execution. Portfolio management is the governance discipline - about doing the right things, steering the organizations in the right directions and improving the overall business effectiveness via systematic problem-solving. Growth, balance harmony, etc, are all desired goals via the science and art of portfolio management.
In order to make the portfolio executable, an organization needs to make sure that enough resources are available to deliver the programs, talented professionals are put in the right positions, the processes are goal driven, and flexible, and also manage the interdependencies of the business initiatives via an effective architecture framework. In specific, strategic focus means focus on the decision-making process around which programs/initiative should be executed based on their alignment with the goals and objectives of the organization (long term or intermediate level); focus on multifaceted value clarification and preventing value leakage -getting increasingly more attention with large organizations that have poor visibility and control over their portfolio. Strong portfolio management enables strategic agility and unlock business speed.
Competency building: The business portfolio management is fundamentally an iterative cycle to design, build, scale and optimize business capabilities and refine unique organizational competency and achieve the desired effects under specified performance standards and conditions. Results are best as the processes are robust not only in terms of initiation, planning, execution, monitoring & controlling, closing as well as in portfolio/change management. A healthy portfolio is a right combination of strategic-capability development and operational capability optimization, with the goal to keep the business running smoothly without losing the further vision of long term prosperity.
The best strategy in the world is only as good as the outcomes it produces. Without effective program/portfolio management, you will have nothing to populate your balanced scorecard with! The great portfolio management helps to periodically review the strategy plans so as to be close to the strategic objectives in an ever-dynamic business environment. It's the aligned programs that produce the outcomes from seamless strategy execution. A set of unique business competencies can be built through the combination of talent, resources, processes, and technologies to perform a set of activities and achieve the high-performance business result. Hence, good program management is essential for successful strategy execution. The organization's long-term success is based on a set of differentiated capabilities and its core competency.
Potentiality exploration: Besides “SWOT” analysis, organizational strategy planning needs to leverage “trend” to make timely adjustments. Thus, potentialization is a significant dimension to explore in building an aggressive portfolio for leading business growth. A potentiality management framework provides an “executive” view including organizational strength/impact analysis about "what if" situations showing potential scale of business benefit to be driven from the portfolio based on different mixes of programs and projects, with reporting and alignment to strategy. All of the above should be supported by a robust, flexible and comprehensive set of tools to report and provide performance metrics, which allow the portfolio to be fine-tuned over time so that it delivers maximum strategic advantage to the organization
Potentiality is correlation with innovation. Therefore, a potentiality portfolio is an integral component of innovation management. The size and mix of the innovation initiatives depend on the business situation, strategic objectives and severity of external challenges or changes. Unlock organizational potentiality to boost breakthrough innovation, in fact, all competitive organizations should have a handful of "bets" in the breakthrough category. High potentiality means high risks. Technically, solid portfolio management offers the extensive configurability to provide the links to business strategy alignment, scenario planning, requirements management, resource management, risk management (progress, finance, quality, and change), comprehensive dashboard reporting, and tracking of benefits realization. Portfolio management processes are important, but it doesn't mean all product development should follow a prescribed process that stifles innovation.
In order to realize a clearly-defined vision, it’s critical to make the business initiative portfolio executable for building differentiated competencies to implement a series of good strategies. A portfolio management process itself is a governance process which is usually tailored to match the organization’s type and size of business, culture and habit, to make sure that enough resources are available, and the right fit talents are completely functioning to deliver solid business results consistently.
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