Portfolio management — a comprehensive approach to strategy execution
Today, nearly all businesses are investing heavily in performance improvement initiatives. But tracking progress and measuring success effectively continues to be highly challenging. Enterprise Portfolio Management enables organisations to successfully execute strategy by providing a structured approach and incorporating a comprehensive view of the organisation’s entire portfolio of projects, allocating funding and resources to the most critical initiatives. It also provides the structure for organisations to track, monitor and report the organisation’s implementation performance against its strategic initiatives and report results to executive leadership, allowing for timely decision-making.
Enterprise Portfolio Management incorporates a comprehensive view of the entire portfolio of projects and allocates funding and resources to the most critical initiatives that directly deliver on an organisation’s strategic objectives.
Purposeful strategy execution with portfolio management. Are you confident that:
• Your strategy is being realised through initiatives aligned to your strategic vision?
• You can track implementation performance of your organisation?
• Programme- and project-driven changes impacting your people and firm are being managed effectively?
Portfolio management is a deliberate approach to identifying, prioritising, funding and delivering a specific selection of priority initiatives across a function or an organisation.
Companies who embrace portfolio management principles have experienced 60% higher review and profit growth than firms who have not.
In a world of increasing business uncertainty and disruption, portfolio management is a tool that allows leaders to steer their organisations in the right direction. Such a tool can assist senior executives in understanding the complexity and scale of work being undertaken and can bring potential and upcoming complications to their attention. It forms the bridge between planning and delivery of initiatives and ensures that organisations stay on track to achieve their goals and, if required, provides insights and recommendations to executives for prompt corrective action.
Embedding a portfolio management capability requires extensive deliberation on the impact it will have on an organisation’s people, processes and technology, and demands rigorous planning and change management. Understanding the common barriers to success and the overarching benefits should assist executives in making a sound business decision for developing this capability within their business.