When what organizations do is not unique, how they do it becomes their
competitive advantage. Unless you are a Tesla or SpaceX, it is essential
you actively manage your portfolio of strategic initiatives through risk and
investment decisions and through a sharp focus on strategy implementation to succeed. Organizations with mature project portfolio management practices complete 35 percent more of their programs successfully. They fail less often and waste less money.
Monthly Archives: July 2020
Implementing Project Portfolio Management
When executives use project portfolio management, strategic initiatives have a better chance for success. But are many organizations’ leaders missing in action? This concept is explored in the EIU study, Why Good Strategies Fail: Lessons for the C-Suite, sponsored by PMI.1 According to this study, the top reasons for the success of strategic initiatives are leadership support and buy-in.
Winning through Project Portfolio Management
In Lewis Carroll’s classic, Through the Looking Glass, the Red Queen neatly describes the situation many organizations face. “Now, here, you see, it takes all the running you can do, to keep in the same place,” the Queen tells Alice. “If you want to get somewhere else, you must run at least twice as fast as that!” It comes as no surprise that organizations today operate in a highly complex and dynamic environment in which the pace of change is faster than ever before. A range of factors, including new technology, globalization, and evolving customer behavior, is forcing organizations to run fast merely to keep up.
Introduction to P3M3 Capability Maturity
As the rate of change accelerates, organizations continually strive to identify and leverage competitive and performance advantage from improved efficiency and delivery. Best practice continues to evolve as the understanding of what makes organizations perform well grows.