This video covers the three drivers of change: shifting priorities, variances in performance, and dependent benefit shortfalls, and also covers the process of driving change and the roles — executives, portfolio management, project teams.
- If you have been involved in projects in any way,…you know that change is inevitable.…That's true within portfolio management as well,…and there are three distinct reasons why change happens…within the portfolio.…The first is simply because the goals and objectives change.…The portfolio is created to deliver the business goals,…and projects are approved to achieve that.…Business needs change over time as new threats…or opportunities arise, and sometimes one or more…of the goals for the year have to be revised.…
When that happens, the portfolio must be adjusted…to deliver on those new goals,…which in turn, changes projects.…The second reason for change…is because the projects being delivered in the portfolio…experience variances from expectations.…In some ways, this is similar to the project change…you may be familiar with, but here, we're concerned…with the ability to meet the expected contribution to goals…not variance from schedule or budget.…If a project in progress can no longer deliver value,…whether because of internal or external factors,…
- Identify how to connect the strategy with delivery in portfolio management.
- Explain the process of managing alignment.
- Define a portfolio lifecycle.
- Explore business casing and analysis in portfolio management.
- Examine capacity and capability planning in portfolio management.
- Break down selection and prioritization in portfolio management.
- Recognize the elements of managing change in portfolio management.