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What are the emerging trends in program portfolio management?

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Program portfolio management (PPM) is the process of selecting, prioritizing, and managing multiple programs that align with the strategic goals and objectives of an organization. PPM helps program managers and executives to optimize the use of resources, minimize risks, and maximize value across different programs. As the business environment becomes more complex, dynamic, and uncertain, PPM needs to adapt to the changing needs and expectations of stakeholders, customers, and markets. In this article, we will explore some of the emerging trends in PPM that are shaping the future of program management.

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1 Agile and hybrid approaches

One of the key trends in PPM is the adoption of agile and hybrid approaches that combine the best practices of traditional and agile methodologies. Agile and hybrid approaches enable program managers to deliver value faster, respond to changing requirements, and collaborate more effectively with cross-functional teams. Agile and hybrid approaches also require program managers to adopt new tools, techniques, and mindsets, such as iterative planning, continuous feedback, adaptive governance, and value-driven delivery. Program managers need to balance the flexibility and speed of agile and hybrid approaches with the alignment and control of traditional approaches.

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PALLAVI NIGAM

Business & Digital transformation Evangelist |Digital Product Strategy , IT Product management & Portfolio Management I S4/HANA I SAP BTP I S2P I O2C I Ex-Unilever # Ex-GEP #Ex-Zycus, Doctoral Researcher, AI leader
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Blockchain for Transparency: Blockchain technology is being explored for enhancing transparency and traceability in PPM. It can improve project documentation, contract management, and audit trails. Robotic Process Automation (RPA): RPA is increasingly used in PPM to automate routine tasks, streamline processes, and enhance efficiency in managing project and program portfolios. Machine Learning for Predictive Analysis: Machine learning algorithms are being employed to predict potential risks, resource bottlenecks, and project outcomes, aiding in better decision-making.

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Hariom Singh ??.?. PMP, RMP

Co-Author - GenAI | MBA, PMP, RMP | Senior TPM | Risk & Innovation Leader | Architecting Scalable Data Solutions | Driving Fortune 500 Success | Empowering AI Ethics & Governance for a Smarter Future.
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?? Embrace Continuous Evolution! I'd recommend that program managers be proactive rather than reactive when navigating the evolving landscape of Program Portfolio Management (PPM). With the infusion of agile methodologies, there's a palpable shift towards adaptability and cross-functional collaboration. Strategic alignment is no longer a luxury but a mandate, ensuring projects resonate with overarching business goals. The rise of AI enables precise decision-making, but don't let technology overshadow the human element. Sustainability isn't just a trend—it's a responsibility. And remember, fostering innovation isn't just about new ideas but a culture that celebrates continuous learning.

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PALLAVI NIGAM

Business & Digital transformation Evangelist |Digital Product Strategy , IT Product management & Portfolio Management I S4/HANA I SAP BTP I S2P I O2C I Ex-Unilever # Ex-GEP #Ex-Zycus, Doctoral Researcher, AI leader
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Cybersecurity Integration: PPM is incorporating cybersecurity considerations into project and program management. Protecting sensitive data and ensuring the security of digital assets is paramount. Customer-Centricity: PPM is becoming more customer-centric. It involves soliciting customer feedback, incorporating user experience design, and aligning projects and programs with customer needs and preferences. Remote Work and Collaboration Tools: With the rise of remote work, PPM tools are adapting to support virtual collaboration and communication among teams and stakeholders. Cloud-based PPM solutions are gaining prominence.

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Xander Marsden ?????

Leader & Director of Culture & Transformation | Programme Director | Consulting | Microsoft Technologies & ERP Expert | Microsoft Dynamics 365 | People led, Technology enabled Cultural & Organisational Transformation
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We have been doing this for years, especially in Technology deployment. Waterfall and Agile, or WAGILE as its often referred to, allows the alignment and blending of these 2 methods. I find it beneficial to use this approach as it allows the business to stick to what they know and suits them - Waterfall. For the tech delivery Agile (and SAFE) allow us to operate with pace and in iterative cycles., and good tech is designed to be deployed this way. I dont recommend that you implement Agile into the business at the same time, as it hinders progress and confuses people - but you can start to embed Agile into the organisations culture, which makes it easier for everyone.

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2 Strategic alignment and value realization

Another important trend in PPM is the emphasis on strategic alignment and value realization. Strategic alignment means that the programs in the portfolio are aligned with the vision, mission, goals, and objectives of the organization. Value realization means that the programs in the portfolio deliver the expected benefits and outcomes to the stakeholders and customers. Program managers need to ensure that the programs in the portfolio are not only feasible and viable, but also desirable and valuable. Program managers also need to measure and communicate the value of the programs in the portfolio using relevant metrics, indicators, and dashboards.

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Harisha Lakkavalli - PMP, PgMP, PfMP, RMP, ACP

Project, Program and Portfolio Management consultant and PMP, PgMP, PfMP, Coach. Director at Avi Solar Energy pvt. Ltd
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In the distributed global development and business environment, with a big challenge of ensuring effective communication, the challenge is to remain align with the strategic objectives. Programs are undertaken in a relatively unstable environment. So, it is a high probability to loose the sight of the alignment with volatile strategic objectives. The best way to ensure the program remains aligned is to have quarterly/monthly meetings with the view of mapping to the strategic objectives. Phase gate reviews can add an element of an alignment table.

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3 Artificial intelligence and data analytics

A third trend in PPM is the integration of artificial intelligence (AI) and data analytics into the decision-making and execution processes. AI and data analytics can help program managers to automate, optimize, and enhance various aspects of PPM, such as portfolio selection, prioritization, optimization, risk management, resource allocation, performance monitoring, and reporting. AI and data analytics can also help program managers to generate insights, predictions, and recommendations that can improve the quality and efficiency of PPM. Program managers need to leverage the power of AI and data analytics to augment their human capabilities and intelligence.

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4 Stakeholder engagement and customer centricity

A fourth trend in PPM is the focus on stakeholder engagement and customer centricity. Stakeholder engagement means that the program managers involve and communicate with the internal and external stakeholders who have an interest or influence on the programs in the portfolio. Customer centricity means that the program managers design and deliver the programs in the portfolio based on the needs, preferences, and expectations of the customers. Stakeholder engagement and customer centricity can help program managers to build trust, rapport, and loyalty with the stakeholders and customers. Program managers need to adopt tools and techniques that can facilitate stakeholder engagement and customer centricity, such as stakeholder analysis, customer journey mapping, user feedback, and co-creation.

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5 Sustainability and social responsibility

A fifth trend in PPM is the incorporation of sustainability and social responsibility into the selection and management of the programs in the portfolio. Sustainability means that the programs in the portfolio consider the environmental, social, and economic impacts of their activities and outcomes. Social responsibility means that the programs in the portfolio contribute to the well-being and development of the society and the planet. Program managers need to ensure that the programs in the portfolio are not only profitable and competitive, but also ethical and responsible. Program managers also need to align the programs in the portfolio with the global standards and frameworks that promote sustainability and social responsibility, such as the United Nations Sustainable Development Goals (SDGs).

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6 Innovation and learning

A sixth trend in PPM is the cultivation of innovation and learning across the programs in the portfolio. Innovation means that the program managers create and implement new and better solutions that can solve problems, meet needs, or create opportunities. Learning means that the program managers acquire and apply new knowledge, skills, and competencies that can improve their performance and effectiveness. Program managers need to foster a culture of innovation and learning that encourages experimentation, creativity, curiosity, and collaboration. Program managers also need to use tools and methods that can support innovation and learning, such as design thinking, prototyping, testing, and feedback loops.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Imtiaz Hussain

Portfolio Management/ Multi-sectoral Expert/Trainer/Analyst and social researcher
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This is very interesting for me as i still not convinced that agile or hybrid can be used in development Sector projects or program . Paternalistic approach of management can be used to obtain maximum results and wellbeing of employees . iteration is good but in long term program than what about short term fixed projects ? Adaptive management and benovelent -autocratic style of leadership can work well .

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What are the emerging trends in program portfolio management?

1

2

3

4

5

6

7

1 Agile and hybrid approaches

2 Strategic alignment and value realization

3 Artificial intelligence and data analytics

4 Stakeholder engagement and customer centricity

5 Sustainability and social responsibility

6 Innovation and learning

7 Here’s what else to consider

Program Management

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What are the emerging trends in program portfolio management?

1

2

3

4

5

6

7

1 Agile and hybrid approaches

2 Strategic alignment and value realization

3 Artificial intelligence and data analytics

4 Stakeholder engagement and customer centricity

5 Sustainability and social responsibility

6 Innovation and learning

7 Here’s what else to consider

Program Management

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