The proactive portfolio
With new technologies accelerating the rate of change, organizations feel the pressure to build innovation into the project portfolio. For project managers, this means balancing risks and expenditure and demonstrating to executive sponsors that innovation has the potential to add value. In “The Proactive Portfolio,” project managers discuss approaches to reducing risk in the innovation process.
Forging into uncharted territory is a risky endeavor. But in a rapidly changing business environment, standing still comes with risks of its own. Big name brands such as Blockbuster, Atari and Borders have stumbled or fallen to the wayside due, in part, to a failure to adapt. New technologies accelerate the pace of change, and organizations feel the pressure to build innovation into the project portfolio—before it’s too late. With cloud computing, 3-D printing, drones, robotics and the Internet of Things reinventing “business as usual,” even the most risk-averse industries are being forced to innovate, says Anshul Srivastav, PMP, vice president of information technology, Bharti Axa General Insurance Company Ltd., Bengaluru, India. “Innovation is scary, but if you’re not doing it, you are losing out,” Mr. Srivastav says. “It can happen in any industry—manufacturing, financial services, telecommunications: If you don’t change the way you do things, you will collapse one day when some other organization comes al