In this video, learn the difference between objective vs. subjective decision making and optimal mix for results alignment vs. optimal mix for delivery success. This video also covers scheduling and prioritization and concept of approving to a backlog rather than to initiation.
- Capturing ideas, developing business cases,…and assessing capacity and capability…are all designed to make the initial selection of projects…for your portfolio a simple process.…When those elements are done well,…business leaders will be able to approve…the best-fit projects based on ease of execution,…alignment with goals, strategic importance, et cetera.…That approval will occur by reviewing the recommendations,…considering the advantages and disadvantages…of each combination of projects,…and understanding their limitations.…
But approval to include a project…in your portfolio is not the end of the process.…You set goals and objectives for a full year…to align with your reporting and financial period.…You'll also allocate funds for projects…on the same basis,…so your projects are approved for that same one-year cycle.…Because of this, for many projects…there is a period of time…between the decision to include a project…in a portfolio and the start of work on that project.…Depending on when the project is scheduled…
- 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.