How can you guarantee project portfolio deliverables are consistent and beneficial to stakeholders?

Certainly, the vision and aspirations of stakeholders are important, but more than that, the vision and aspirations of the organization need to be aligned with the portfolio. It is crucial that the vision and strategic alignment are clear at all levels, and both stakeholders and the portfolio itself are aligned with them. The use of a SWOT matrix, combined with clear criteria for portfolio definition, worked in conjunction with OKRs and KPIs, is undoubtedly one of the key elements for a portfolio that is well-aligned with the organization's strategy.

Each portfolio should be mutually exclusive, collectively exhaustive (MECE) to ensure clarity, and reduce risk of overlap or gaps. The vision and objectives should be decomposed from the organization's overall strategy, and because strategies can be fluid, so too should the vision and objectives so that they maintain strategic alignment and relevance.

I want to reemphasize the importance of alignment between organization vision and roadmap with the portfolio of programs. Any program that doesn’t have a clear alignment should be ruthlessly deprioritized. Once you can draw a clear connection between the org objectives and roadmap with your portfolios then you can break it into projects and cascade it down. OKR framework works quite well for this propagation and for having alignment and transparency.

Align projects with strategic goals. Top level Prioritize projects based on clear criteria. Top level Establish effective governance and oversight. Top & Mid level Efficiently allocate resources. Mid level with Top level oversight Proactively manage risks. Mid to low level Monitor and report on progress. Mid to top level Engage stakeholders throughout. Across the board Focus on quality assurance. Mid level Track and realize benefits. Across the board Learn from past projects and improve. Cross funtional Stay flexible and adaptable to change. PM

Defining of a portfolio vision, often requiring several iterations to align effectively. It is best accomplished through a workshop-style session where stakeholders can openly share their priorities and expectations. This often dovetails with broader investment planning sessions. Communicating the portfolio's vision and objectives plays a pivotal role in gaining collective buy-in from stakeholders and teams who will be actively involved. A strategic approach to communication, resembling a broadcast message, serves to ingrain the overarching theme, direction, intended pace, and purpose of this cohesive 'Portfolio' entity. This communication is usually undertaken during a kickoff event or after a period of funding or priority reevaluation.

Identifying the most representative stakeholders is indeed very important in order to ensure the following points: - projects benefits from a diverse group of stakeholders that represent the perspectives of the intended project audience/users - we reduce the "noise" in the system by reducing the number of non-constructive interventions or "low return on investment" actions - we have a good understanding of the power/influence of each major stakeholder

?? Effective stakeholder engagement is a nuanced process that goes beyond mere identification. ?? Stakeholder Mapping Categorize stakeholders by influence and interest. Use tools like Power-Interest Grid for prioritizing engagement. ?? Engagement Techniques Tailor communication to different stakeholder groups. This includes meetings, check-ins, or workshops based on roles and interests. ?? Feedback Mechanisms Establish regular feedback loops through surveys, meetings, and sessions to align project deliverables with stakeholder expectations. ?? Engaging stakeholders requires dynamic communication, feedback, and adaptability to align their needs with project goals.

Ensuring OKRs and KPIs are defined, refined, or aligned with strategic goals. Achieving clear, universally understood metrics may take several iterations. An agile approach and continuous progress monitoring facilitate this. Avoid the pitfall of solely focusing on current metrics; consider past project performance for insights. Regular data measurement is key. Metrics must answer critical questions, guiding whether to continue or pivot. Beyond project metrics, outcomes like customer enablement, adoption rates, and regulatory compliance matter. In sum, this stage refines OKRs and KPIs, acknowledging the need for multiple iterations. Agile methods and broadening the focus to outcome metrics ensure comprehensive progress evaluation

One way to start is to see if there are previously established metrics from projects past that can be leveraged for your current portfolio deliverables. Work smart, not hard and pull whatever pieces you can forward, particularly if they are still relevant and/or were well-received by leadership. Use what you can and only create new where needed!

Research and decide on the most suitable standardized project management methodology. Then be ready to adapt certain parts of it to your environment and your major stakeholders' style. Focus on simplicity and clarity. Ensure any methodology used does not become a burden instead of a help.

Don't make portfolio admin an over-engineered tick box - it needs to work for the Program Managers at the coal face and be added value for them too - otherwise they will disengage from supplying meaningful information to portfolio management and set-up their own shadow governance.

Implementation of a portfolio management software is akin to equipping your team with the most advanced and efficient tools available. Think of it as upgrading from traditional paper maps to a GPS navigation system. It makes the journey smoother, provides real-time insights and shortcuts. It allows you to centralize data, streamline processes, and enhance communication. This, in turn, leads to better decision-making and more effective resource allocation. Moreover, it offers stakeholders a clear and real-time view of the portfolio's performance, fostering transparency and trust. It empowers your team to stay agile, make data-driven choices, and deliver consistent and beneficial results to stakeholders.

Completely agree. Planview , Service Now ,Clarity today are advanced to inculcate Lean portfolio Management methodology, KPI,OKR tracking etc. PPM tool today can really advance company ways of working itself. It all comes down to implementation, tool tuning, adoption and data quality . With strategy tracking , Value Management modules being incorporated. PPM tool becomes a formidable asset for portfolio deliverables consistent with selected strategies. It is our visor to tell us where are compared to our objectives (financial, strategy etc). Ofcourse we need stakeholder management , governance, leadership, processes to ensure better portfolio delivery and performance. I think the tool makes it happen overall.

Estabele?a um Ciclo Contínuo de Melhoria ?? Veja a melhoria como um processo contínuo, n?o como um evento isolado. Estabele?a um ciclo de avalia??o e ajuste constante. Isso garante que os processos estejam sempre alinhados com as demandas em constante mudan?a. Avalie a Eficiência dos Processos Atuais ?? Conduza uma análise abrangente dos processos existentes. Identifique pontos fortes, lacunas e possíveis gargalos. Isso fornece insights sobre áreas que exigem melhoria e otimiza??o. Encoraje a Inova??o nos Processos ?? Estimule uma cultura de inova??o nos processos do portfólio. Incentive a equipe a propor ideias e solu??es inovadoras. A constante busca por melhores práticas impulsiona a evolu??o contínua.

Avoid having regular rounds of cuts. It creates a negative behaviour whereby program managers over-egg what they need early on in anticipation and try and game the system.

One thing i have found helpful that within the context of Project Portfolio Management (PPM), it's vital to understand that diverging viewpoints are an organic component of the journey, and, intriguingly, they possess the potential to elevate decision-making when handled in a constructive manner. Achieving success in this domain hinges on nurturing open and effective channels of communication, instituting well-defined operational protocols, and maintaining an unwavering dedication to aligning project endeavors with the strategic goals of the organization. This trifecta not only helps in conflict resolution but also ensures the prosperity of project portfolio management efforts.