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Strategy deployment through portfolio management - Taking action: 10 key steps - EY - Global

Strategy deployment through portfolio management

Taking action: 10 key steps

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Our innovative portfolio management approach helps organizations manage the risk of their transformation in an integral way.

Our portfolio management approach enhances the organization's chance of success in their transformation efforts because it forces the organization to focus on the risks that matter.

In addition, the approach helps enable a common risk language within programs and projects, strengthening the organization’s risk culture.



The key steps organizations should take to the make this happen are:
 
  1. Review the corporate strategy and transformation objectives.
  2. Translate the strategic objectives into initiatives.
  3. Optimize strategic initiatives to enhance strategic alignment.
  4. Translate strategic initiatives into programs and projects by means of project charters.
  5. Evaluate current project and program portfolio.
  6. Optimize portfolio by adding new programs and projects based on enterprise architecture alignment, risks, business case and other criteria.
  7. Balance demand and supply and potentially stop programs and projects that may cause project gridlock to the organization.
  8. Prepare a consolidated overview of projects to monitor, evaluate, accelerate, stop and “must do” to support executive decision-making.
  9. Perform risk reviews of high-risk and must-do programs and projects.
  10. Use risk and issue information to support executive decision and portfolio optimization.

 

 


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