Strategy deployment through portfolio management
Portfolio management challenges
Many organizations can improve their approach to portfolio management and deliver more value as a result.
Many organizations struggle with keeping their project portfolio under control.
Typical issues faced by organizations include:
- Too many projects running at the same time that do not deliver because of a lack of focus
- Strategic objectives that are not supported by a project or program
- Investments in a project or program that are not supported by a strategic objective
To overcome these challenges, portfolio management needs to be embraced by organizations to achieve three main objectives:
- Strengthen the strategic alignment of programs and projects to prevent initiatives being undertaken that do not support the enterprise strategy.
- Enhance the overall economic value of the portfolio to get the optimal return on investment, focusing on tangible business benefits of programs and projects.
- Enhance executive decision making on programs and projects based on company-specific criteria, including:
- How does the initiative fit in the defined enterprise architecture?
- How do risks and interdependencies come into play?
- How does the organization deal with compliance initiatives?
Such a triangulated approach enables organizations to ensure optimal value creation from their investments in programs and projects.
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