Line Of Business Executives
Line of business (LOB) executives are critical in supporting your organization’s success.
They must contribute to your corporate strategies and the ways their business area can support those strategies, and they must ensure that all of their investments are contributing to the success of the business.
LOB Executive Role Summary
Executives across the business play an instrumental role in driving transformation. There are several imperatives within strategic portfolio management that they must master:
- Effective use of roadmaps for all investments
- The derivation of all work from strategy
- Optimal resource utilization
- The ability to manage all investments in an integrated manner
- Managing to ensure outcomes are delivered
Aligning department goals with business strategy
LOB executives are more than just the individuals responsible for a department or business area. They must also ensure that their business area is contributing to the overall organizational strategy. That means using roadmapping tools to help in the developing, maintaining and executing on roadmaps for all work in their control. It also means ensuring those roadmaps integrate with the overall organization’s strategic roadmaps.
Those roadmaps must drive all work for the business area and provide a tool for communicating alignment between work and strategy to all staff. They act as a means of confirming that all work being planned and delivered aligns with one or more roadmap elements. In addition, all planned work within a business area must be driven from the top and the LOB executive is accountable for ensuring that happens.
Gaining insight and managing outcomes
The work done by those people across the Tri-Modal Reality – traditional, agile and ad-hoc – must be managed as part of an integrated whole. The LOB executive needs visibility into all work at all times along with the insight to understand dependencies across different work types, the impact of decisions on other business areas, and the implications for downstream work of decisions made today.
Finally, LOB executives can use benefits realization management software to ensure all work optimizes business outcomes. Those individuals only succeed when their departments succeed, and that means delivering the expected contribution to the organization’s goals and objectives. That will also strengthen the department in terms of revenue, efficiency, etc. but LOB executives must ensure the overall strategic goals drive everything.
Primary relationships for LOB executives are with the SRO that drives execution and with the domain PMO for their own business area. They will also be accountable to the strategic planning function and the CFO and may well depend on roles like the CIO to help them identify and deliver the best solutions.