Completing my recent mini series on organisational culture, I finish by looking at what capabilities are needed to support the behaviours and skills already identified to create and manage a successful project portfolio that maximises customer value.
There are 4 key capabilities that should be in place to get the most out of your portfolio:
- A clear, well understood end-to-end process: for identification, prioritisation, selection and implementation of ideas through to value realisation. There are lots of examples of what this can look like, some very linear, others more iterative, but one type is unlikely to fit all activity, so make sure it is adaptable, simple and has a continual learning mechanism built in.
- Portfolio management disciplines and structures: to define, balance, sequence and manage the portfolio, ensuring it is strategically-aligned, and within risk, financial and capacity constraints. Note that success measures, used to select ideas and track implementation, will likely need to differ for incremental and transformational activity.
- Change management capabilities, tools and processes: every innovation brings change, and so it needs to be well managed to succeed. This requires strength in communication, collaboration and senior management role modelling and leading change, after all “no strategic initiative, big or small, is complete until it has been incorporated into day-to-day activities” (Kotter).
- A team with diversity of thought and experience: offers the best potential for success, sponsored by a senior leader who empowers a passionate and skilled accountable lead, who takes a collaborative and accountability-focused approach.
What others do you think are important?
Comments
Post a Comment