Organizations want to work on the right ideas – the ones that customers want, and which will generate value.
Given that resources are often constrained (of time, people and money) making the right decision seems more important than ever. Yet portfolio management is often seen as a problem. This paper considers ways to quickly discover the highest value projects and compare them effectively, helping organizations balance risk and differing objectives across the portfolio.
Most organizations don’t have a problem generating ideas – demand usually outstrips supply. Allocating resources effectively is essential. A mature organization is able to compare ideas, projects and initiatives in order to focus on the most valuable. This thought paper goes on to explore the nine key principles of managing for value.
Quickly focus on the most profitable areas.
Managing for value – the nine key principles
- Capture ideas
- Increase visibility
- Compare and prioritize
- Make economic trade-offs
- Create a framework
- Apply incremental funding
- Balance the portfolio
- Integrate management
- Ensure consistency and repeatability
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