We’ve spent a lot of time in this series of blog posts looking at different elements – the imperatives – that are driving the need for Strategic Portfolio Management (SPM). Because we believe that mastering these seemingly disparate elements is the key building a successful business. But there’s another question, one that we’ve touched on occasionally in these posts, that eventually must be addressed. What’s next after mastering projects?
Because there’s so much more to discuss than just project type work. Sure, that’s the focus of a lot of your strategic and planning efforts. You determine how to invest your discretionary spend each year and then you need to do everything you can to ensure those investments generate the best possible return. Many organizations spend a tremendous amount of time and effort refining their portfolio planning and execution processes, and that does help.
Breaking down the silos
But those discretionary investments don’t exist in isolation, and they certainly aren’t the only way your organization succeeds. All of the projects, initiatives, epics or other such work items only exist to improve your products, services, capabilities and technologies in order to drive your overall success in line with your strategies. Unless you understand and manage that dynamic and relationship, you’ll fail to develop a 360-degree view of your business and you’ll underperform.