Lean Portfolio Management - configuration considerations for PPM ?

Lean Portfolio Management (LPM) is a modern approach to managing a company's portfolio of projects, programs, and initiatives. It is designed to help companies deliver products and solutions faster, improve business outcomes, and support corporate strategic objectives.

One of the key principles of LPM is the focus on value. This means that all activities and decisions within the portfolio should be driven by the desire to create value for the customer and the business. This requires a deep understanding of the customer's needs and a clear alignment with the company's strategic objectives.

Another key principle of LPM is the use of data and analytics to inform decision-making. This includes the use of metrics such as return on investment (ROI) and net present value (NPV) to prioritize and allocate resources to the most valuable projects and initiatives.

LPM also emphasizes the importance of continuous improvement and innovation. This includes the use of agile methodologies and techniques such as continuous delivery, continuous testing, and continuous deployment to drive rapid iteration and innovation.

Overall, LPM is a modern approach that helps companies deliver value to their customers faster, improve business outcomes, and support corporate strategic objectives. It is a key tool for companies looking to stay competitive in today's fast-paced and rapidly-changing business environment.

How to implement Lean Portfolio Management (LPM)

There are several key steps to implementing Lean Portfolio Management (LPM) within an organization:

1. Define your strategic objectives: Clearly define your company's strategic objectives and how they align with the needs of your customers. This will provide the foundation for your portfolio of projects and initiatives.
2. Identify your value streams: Map out the flow of value from your customer to your organization, identifying the key activities and processes that contribute to that value. This will help you identify areas of waste and inefficiency that can be addressed through LPM.
3. Prioritize your portfolio: Use data and analytics to prioritize your portfolio of projects and initiatives based on their potential value to the business and the customer. This will help you allocate resources to the most valuable projects and initiatives.
4. Adopt agile practices: Use agile methodologies and techniques such as continuous delivery, continuous testing, and continuous deployment to drive rapid iteration and innovation within your portfolio.
5. Monitor and improve: Regularly review and assess the performance of your portfolio, using data and metrics to identify areas for improvement. Continuously seek out opportunities to optimize and streamline your processes to drive value for the business and the customer.

It is important to keep in mind that implementing LPM is a continuous process, and requires a commitment to ongoing learning and improvement. It may also require cultural changes within the organization, as it requires a shift in mindset from traditional top-down decision-making to a more agile and customer-centric approach.

?PPM configuration considerations when implementing Lean Portfolio Management (LPM)

There are several configuration considerations to keep in mind when implementing Portfolio and Project Management (PPM) tools to support Lean Portfolio Management (LPM):

1. Alignment with strategic objectives: The PPM tool should support the alignment of projects and initiatives with the company's strategic objectives. This includes the ability to link projects to specific objectives and track progress towards those objectives.
2. Data and analytics: The PPM tool should provide data and analytics capabilities that allow you to track and measure the performance of your portfolio, including metrics such as return on investment (ROI) and net present value (NPV).
3. Agile support: If you are using agile methodologies and techniques within your LPM practice, the PPM tool should support agile project management and provide features such as agile boards, sprint planning, and agile reporting.
4. Collaboration and communication: The PPM tool should support collaboration and communication between team members and stakeholders, including the ability to share documents, collaborate on tasks, and communicate through chat and messaging.
5. Customization and integration: The PPM tool should be customizable and allow you to tailor it to the specific needs of your organization. It should also be able to integrate with other tools and systems you are using, such as your product lifecycle management software, CRM, and financial management systems.

WHY CONSIDER CORA PPM (www.corasystems.com )

There are several reasons why someone might want to consider Cora PPM over the alternative options:

Unique features: Cora PPM offers features & capabilities that are not available in other tools, which would make it a better fit for your organization's needs.

Ease of use: Cora PPM is more user-friendly and easier to learn than other tools, making it a much more attractive option for organizations with limited training resources, larger user communities, or higher levels of staff turnover.

Customization & Configuration options: Cora PPM allows for more customization and configuration flexibility than other tools, which is a major advantage for organizations with specific or unique requirements.

Strong customer support: Cora offers excellent customer support, including training, onboarding, and ongoing technical assistance on a 7x24x365 basis, which would make your PPM tool a more appealing choice for organizations that value a high level of support and may need it to support global teams

If you would like to discuss Cora PPM, and our SPM (Strategic Portfolio Management) please drop me a note.?

Alan Crean | Project Financials, Systems, & Technologies Specialist?|?Cora?|[email protected]