Delivering on Strategy: The Power of Portfolio Management

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Organizations with mature project portfolio management practices complete 35 percent more of their programs successfully. They fail less often and waste less money.

This report is a synthesis of the lessons learned from the C-suite and portfolio managers and details the leading practices of organizations that realize the benefits of portfolio management.

These practices include:

  • Connecting project execution to strategy fulfillment
  • Seeking simplicity
  • Creating a portfolio-minded culture
  • Developing strong portfolio decision-making capabilities in the journey toward greater maturity

Ensuring that senior leaders have a clear and early warning of problems and their related impacts is also essential, so they have sufficient time to course-correct and reallocate resources. To accomplish that, portfolio managers need the right resources and support to balance the conflicting demands among portfolio components.

Whether a call for stronger portfolio management comes from the C-suite or the project level, it is critical that each layer of stakeholders be involved, so that they understand how effective portfolio management can impact their function.