Step three is to make sure that only projects that are critical to the business take place and that the projects that do take place are measured on the actual benefits they deliver to the business at the end of the project. Most organizations are currently failing in both of these areas.
These decisions must be made at the highest level in the organisation and portfolio management provides the mechanism for this (although you don’t have to call it that). The most business-critical projects are always prioritized and anything else (including projects that are already under way) can be deferred or delayed. This way all projects are business critical and will get full top management support.
2 comments:
I fully agree with your statement that many organizations do not ensure that the right projects get done, nor do they measure the proposed benefits once the project has been implemented. I am particularly interested in this last point. I have started some research in determining the right metrics and post-implementation measurement. It is an interesting topic for which I am not finding an abundance of information so far. I'll keep looking!
Thanks Leigh, most organizations I have worked with don't want to do it as it involves some work and they are afraid of what they might learn. No organization will ever be fully mature until it measures all projects' delivered benefits against the projected benefits and uses it to refine their processes.
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