Portfolio management provides an “executive” view including impact analysis, alignment to strategy, ROI estimation, quality improvement, etc.
It is important to have resources, assets, and talent aligned with business strategies and refined to the point to make sure that organization is nimble and adaptable to changing environment in a timely fashion. The program management can be reapplied to altering business priorities, build a balanced portfolio of business initiatives, across the matrix of different types of approach (process, product/service, business model), to improve organizational agility and performance.
Business initiatives portfolio strategic alignment: Organizations have limited resources and time, the potential portfolio investment needs to streamline the strategic objective alignment and accelerate future growth of the business. Business initiatives portfolio management is about improving business effectiveness by focusing on decision-making processes around which programs should be executed based on their alignment with the goals and objectives of the organization. It helps to make an objective assessment of market/revenue growth; potential growth opportunity or market entry; make precise identification of objectives that the initiative will support.
Make sure the # and investment of the business initiatives are aligned with at least one strategic objective over the total business initiatives portfolio. The objective of portfolio management is to provide visibility of business initiatives that are supporting the company's strategic objectives and assess opportunities to realign resources and investments as appropriate. It’s critical to clarify-intended objectives, financials, and risk profiles in the portfolio-having abilities to move ideas through their development cycle to achieve first to market portfolio agility.
Calculate return on investment: Organizations have limited resources and budget; the portfolio management needs to assure financial alignment towards leveraging existing investments as much as possible; provides structure coupled with financial planning towards preventing sprawl; prioritize appropriately to build a “running-growing-transforming” portfolio. The ROI of business initiatives managed by the portfolio management can go beyond financial return.
Forward-looking organizations are on the journey to improve people-centricity. ROI estimation is expanding into other less measurable, but no less tangible areas that companies need to be focusing on, such as employee satisfaction, creativity, teamwork, collaboration, etc. It is important to have well calculated ROI, going beyond just traditional accounting measurement, or some form of rigor in making wise investment decisions about where and why to spend on what, and make sure all the shareholders are on the same page.
Improve quality management of business initiatives portfolio: All stakeholders are responsible for quality; quality is the main process of portfolio management; when the business initiative starts to roll over, each needed deliverable has to have the named people in charge of the delivery and the named people in charge of the validation. You need to provide investment, dedication, and commitment. To improve the overall quality of a business portfolio, the management needs to monitor the quality at every stage of the business initiative and take corrective actions wherever necessary. Everybody becomes in charge of the quality with a responsibility for portfolio management to follow-up deliveries and validations.
As quality is the holistic management discipline, you have to continuously improve upon it. Everyone has some role in quality; in order to get quality out of anything whether it is people or process. Transparency enforces quality. It’s important to clarify the purpose and engage all the people involved working together as a team to excel in the delivery of quality products or services with accelerated speed.
Portfolio management provides an “executive” view including impact analysis, alignment to strategy, ROI estimation, quality improvement, etc. It should focus on setting leadership principles and providing program/project guidance, rather than micro aspects of the business initiatives, allowing the portfolio to be fine-tuned over time so that it delivers maximum strategic advantage to the organization, improving organizational effectiveness and efficiency.
Business initiatives portfolio strategic alignment: Organizations have limited resources and time, the potential portfolio investment needs to streamline the strategic objective alignment and accelerate future growth of the business. Business initiatives portfolio management is about improving business effectiveness by focusing on decision-making processes around which programs should be executed based on their alignment with the goals and objectives of the organization. It helps to make an objective assessment of market/revenue growth; potential growth opportunity or market entry; make precise identification of objectives that the initiative will support.
Make sure the # and investment of the business initiatives are aligned with at least one strategic objective over the total business initiatives portfolio. The objective of portfolio management is to provide visibility of business initiatives that are supporting the company's strategic objectives and assess opportunities to realign resources and investments as appropriate. It’s critical to clarify-intended objectives, financials, and risk profiles in the portfolio-having abilities to move ideas through their development cycle to achieve first to market portfolio agility.
Calculate return on investment: Organizations have limited resources and budget; the portfolio management needs to assure financial alignment towards leveraging existing investments as much as possible; provides structure coupled with financial planning towards preventing sprawl; prioritize appropriately to build a “running-growing-transforming” portfolio. The ROI of business initiatives managed by the portfolio management can go beyond financial return.
Forward-looking organizations are on the journey to improve people-centricity. ROI estimation is expanding into other less measurable, but no less tangible areas that companies need to be focusing on, such as employee satisfaction, creativity, teamwork, collaboration, etc. It is important to have well calculated ROI, going beyond just traditional accounting measurement, or some form of rigor in making wise investment decisions about where and why to spend on what, and make sure all the shareholders are on the same page.
As quality is the holistic management discipline, you have to continuously improve upon it. Everyone has some role in quality; in order to get quality out of anything whether it is people or process. Transparency enforces quality. It’s important to clarify the purpose and engage all the people involved working together as a team to excel in the delivery of quality products or services with accelerated speed.
Portfolio management provides an “executive” view including impact analysis, alignment to strategy, ROI estimation, quality improvement, etc. It should focus on setting leadership principles and providing program/project guidance, rather than micro aspects of the business initiatives, allowing the portfolio to be fine-tuned over time so that it delivers maximum strategic advantage to the organization, improving organizational effectiveness and efficiency.
0 comments:
Post a Comment