An organization’s projects and other initiatives must underpin the business strategy. However, it can be hard for management to maintain an overview and prioritize between initiatives. Here, portfolio management is an essential tool for creating cohesion between strategy and realization.
A project portfolio is an outline of the organization’s ongoing and upcoming projects. The purpose of this outline is to give management an opportunity to orientate themselves and prioritize between the projects and thereby create a solid basis for decision and transparency across the organization. But this requires competent portfolio management that is adjusted to the maturity of your organization. At Peak we help our customers analyse the connections between projects, programs and portfolios, resource capacity and reporting requirements – and we have broad experience with completing these analyses effectively. We ensure, that your portfolio underpins your strategic goals in the best possible way, whether they be profitability, market shares or delivery capabilities.
The effect of good portfolio management
There are many benefits to gain from the overview a well-established portfolio provides. Regardless of your strategic basis or maturity, good portfolio management can be a determining factor for achieving:
- Quick correction and strategic adjustment within initiatives that underpin the overall strategy
- Rendering the effects of the project visible
- Faster project course
- Improved allocation of development resources for top priority projects