SPM is essential for business success, requiring skillful assessment of projects and resources to optimize results amidst ever-changing markets and demands.
Strategic Portfolio Management Overview
This presentation will cover five key challenges in strategic portfolio management and provide insights on how to overcome them for improved efficiency and effectiveness.
Five Main Challenges
Aligning project portfolios with organizational goals is crucial but challenging due to multiple projects, shifting goals, and differing stakeholder opinions. A clear, shared list of goals is essential.
Alignment With Organizational Goals
Balancing resources involves ensuring the right resources are assigned to the right projects at the right times, despite competing demands &limited access to specialized resources.
Resource Allocation Challenges
Accurately forecasting project value is difficult due to unpredictable variables, upfront investments, and changes during a project. Thorough research and adaptive plans are crucial
Forecasting Challenges
Effective risk management requires early identification of potential risks, development of mitigation strategies to adjust plans based on changing risk profiles.
Risk Management
Overcome SPM challenges by setting clear goals, balancing resources, accurately forecasting project value, managing risks, and adapting to market changes
Strategies for Success
With proper planning and execution, organizations can effectively manage complex portfolios, ensuring continued success through strategic portfolio management.