The key to enterprise agility is Lean Portfolio Management

To compete in today’s fast-paced environment, many organizations are evolving their traditional approach for managing strategic investments by turning to Lean Portfolio Management. UMT360’s Lean Portfolio Management solution can help organizations adopt the rolling wave continuous planning approaches that provide the agility needed to more effectively align all work with key strategies.

Align Execution with Strategy

To effectively respond to the mandate for business transformation, it’s imperative to understand how strategy breaks down into actionable work. UMT360’s solution can help your organization align all strategic objectives and priorities across all departments and layers within the organization to ensure all work is aligned with the business strategy. UMT360’s solution helps you:

Govern All Work Across Portfolios
  • Define and decompose your business strategy and themes
  • Define expected outcomes and track results for each strategic theme
  • Create and track key initiatives / epics that will help you to effectively achieve the desired outcomes

Right-Size your Governance Controls

Governance often gets a bad rap, because it traditionally has had the effect of hampering agility. But like brakes on a car, good governance isn’t there to slow things down, it’s there to actually help you go faster, secure in the knowledge that the proper controls are in place. Rightsized governance ensures teams have the flexibility to execute – with an appropriate level of standardization – while also ensuring that the key stakeholders have the visibility and insight required to change course as needed.

Align Execution With Strategy
  • Easily standardize a hierarchical operating model that works for your organization: portfolios, strategy, products, epics, features, user stories, tasks
  • Support for continuous or “rolling wave” planning
  • Enable block funding and team allocation at the right level within your operating model (e.g. portfolio, products etc.)
  • Establish the right governance controls to manage key investments / epics
  • Standardize performance measurement and recurring portfolio review meetings

Budgeting & Tracking

How organizations allocate budgets and teams impacts nearly every business outcome – from which work gets prioritized, to how teams are structured, to how that impact gets measured. UMT360’s solution helps organizations ensure that all funding decisions are made in alignment with specific desired outcomes, enabling you to:

Govern All Work Across Portfolios
  • Establish annual budgets for each portfolio
  • Allocate lean budgets in specific increments (quarterly or bi-annually) to your value streams, products or services
  • Allocate agile teams to your value streams, products or services
  • Include cost estimates into your lean business cases to help prioritize and sequence your epics
  • Track and rollup costs through every level of your operating model to understand surplus and deficits and help you re-allocate funds as needed

Visibility across all Demand

UMT360 can help you quickly right-size and standardize an approach to consolidate key epics across all value streams – like products, services and more – and gain visibility across all demand. Although EPICs typically pull from value stream block funding, so they do not require individual funding approvals, it is important for agile teams to record how and when an epic will contribute to the overall outcomes, by:

Align Execution With Strategy
  • Using workflows to funnel your new requests through epic hypothesis, detailed analysis, go/no-go decisions, portfolio backlog and implementation
  • Prioritizing new requests using your choice of prioritization methods (WSJF, MoSCoW, etc.)
  • Capturing comprehensive lean business cases including estimates, key milestones, dependencies, KPIS, etc.
  • Building and updating near-term and strategic portfolio roadmaps based on expected outcomes, dependencies and the anticipated size of effort

Portfolio Planning & Roadmapping

The static set-it-and-forget-it approach to annual planning simply doesn’t support today’s dynamic business environment. A continuous planning model enables you to more effectively react to changes on-the-fly by maintaining both near-term and multi-year roadmaps. That, coupled with robust portfolio analysis capabilities, allow you to model the impact of, and effectively react to, any change due to internal or external factors, and:

Govern All Work Across Portfolios
  • Support program increment planning within and across value streams / products
  • Easily prioritize Epics and Features based on varying prioritization methods (WSJF, MoSCoW, etc.)
  • Understand the impact of your plan on resource capacity, cost and revenue
  • Perform what-if scenario analysis to re-plan initiatives when assumptions and priorities change
  • Generate portfolio timeline roadmaps to visualize key events and dependencies across all work

Master Resource & Capacity Planning

Moving to a value-stream based model that assigns funding by product, service etc., normally involves building and dedicating teams to specific products, initiatives, or services. In theory this simplifies the whole resource management process as teams are self-organizing and active management of the backlog ensures that teams remain fully utilized. But with or without those capabilities, Resource Management and Capacity Planning will still remain a challenge, unless these capabilities are included:

Align Execution With Strategy
  • A flexible definition of teams allowing for partial allocation of team members to multiple teams
  • The ability to automatically derive team capacity based on the capacity of each team member
  • Mix and match team assignment and individual Resource assignments for a complete picture of the work being done in your organization
  • Identify staffing needs by pivoting availability and capacity views on roles and skills
  • Run what-if scenario analysis to understand how to maximize resource utilization

Monitor Portfolio Performance & Health

By standardizing the status reporting process at all levels in the portfolio hierarchy, UMT360 can help you to ensure that product managers, portfolio managers and executives all gain the visibility and insight they need to identify issues and take corrective action as needed, with the ability to:

Govern All Work Across Portfolios
  • Generate and share Portfolio level Boards to easily see the status of Epics and Features (e.g. Backlog, In progress complete etc.)
  • Standardize Epic, Product and Portfolio performance status reporting
  • Easily track financial performance (budget actuals and forecast)
  • Generate portfolio timeline roadmaps to monitor the health for key dependencies and track milestone performance
  • Utilize best practice or easily build custom dashboards to gain visibility across all work in the portfolio

Outcome Management & Benefits Realization

Organizations can more effectively align all teams – and their work – with their strategic imperatives by moving from a project-based approach to one that is more outcome-centric. UMT360’s solution helps your organization adopt the right capabilities needed to embrace this approach, so it can more easily respond to market changes, and drive a truly agile business by:

Align Execution With Strategy
  • Defining strategic objectives and manage their expected outcomes
  • Managing KPIs at any level within your operating model and mapping them to your expected outcomes to track their progress
  • Planning and tracking KPIs at the right level within your operating model
  • Supporting optimization and prioritization efforts through flexible definition of value
  • Running what-if scenario analysis to understand the impact of your decisions on key KPIs

Easily Integrate with Agile and Project Execution Systems

Most organizations and their teams use a combination of execution methods with different agile work styles (e.g. Scrum, Kanban etc.). Each team should be free to choose their execution tool of choice (JIRA, AzureBoards, etc.). By providing the portfolio controls across all work, UMT360 helps you ensure there’s alignment across all work and teams, which:

  • Allows stakeholders and teams to work in the tool of their choice while bringing together all the data you need for decision making
  • Enables review and approval of demand within the UMT360 solution, while only pushing epics and features that were approved to the backlog of the Agile execution system
  • Pulls status, milestones, inter-dependencies and actuals information from the Agile execution system into UMT360 in real-time to get an up-to-date picture of the progress that is being made