What are the best practices for managing multiple process improvement projects?

If you are involved in business process improvement (BPI), you may have to manage multiple projects at the same time. How do you prioritize, monitor, and communicate the progress and results of your BPI initiatives? One way to do that is to use a process portfolio or a project portfolio. But what are the differences and benefits of each approach? In this article, we will explain the concepts of process portfolio and project portfolio, and share some best practices for managing multiple process improvement projects.

1 Process portfolio

A process portfolio is a collection of processes that are aligned with the strategic goals and objectives of the organization. A process portfolio helps you to identify, prioritize, and optimize the processes that deliver the most value to your customers and stakeholders. A process portfolio also helps you to allocate resources, measure performance, and manage risks across the processes. To create a process portfolio, you need to map out the current and desired state of your processes, assess their maturity and performance, and classify them according to their impact and complexity.

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Imrul Kayes

Co-Founder, Camel Tech | Business Automation Expert
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Managing multiple process improvement projects effectively involves maintaining a clear process portfolio. This means keeping track of all ongoing projects, their goals, and their status. A well-managed portfolio helps prioritize efforts, allocate resources efficiently, and ensure alignment with overall business objectives. In a previous role, we managed several process improvement initiatives by using a central dashboard to monitor progress and resource allocation. This approach allowed us to see which projects were on track and which needed more attention, helping us manage multiple projects smoothly and achieve better results across the board.

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Vikas Sethia

Help Enterprises unlock ERP Outcomes + AI/ML Strategy | Digital Transformation CIO | GTM Strategy | Let’s Talk Transformation
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You know what's harder than starting one process improvement project? Managing multiple at the same time. Here’s what I’ve learned through trial and error: 1) Prioritize ruthlessly. Identify which projects align most with your goals and attack those first. 2) Communicate clearly. Keep the team synced to avoid confusion and wasted effort. 3) Set milestones. Break each project into manageable steps so progress isn’t just a distant dream. 4) Be flexible. Adapt your approach based on feedback and results. It's not failure; it’s learning. 5) Celebrate small wins. Recognition fuels motivation to push through the tougher parts.

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2 Project portfolio

A project portfolio is a collection of projects that are aligned with the strategic goals and objectives of the organization. A project portfolio helps you to select, prioritize, and execute the projects that deliver the most value to your customers and stakeholders. A project portfolio also helps you to allocate resources, measure performance, and manage risks across the projects. To create a project portfolio, you need to define the scope, objectives, and deliverables of your projects, assess their feasibility and benefits, and rank them according to their urgency and importance.

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3 Process portfolio vs project portfolio

Both process portfolio and project portfolio are useful tools for managing multiple process improvement projects. However, they have some differences and advantages. A process portfolio focuses on the ongoing improvement of the processes, while a project portfolio focuses on the temporary and unique outcomes of the projects. A process portfolio helps you to optimize the efficiency and effectiveness of the processes, while a project portfolio helps you to achieve specific and measurable results. A process portfolio requires a continuous and iterative approach, while a project portfolio requires a structured and sequential approach.

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4 How to use both portfolios

Depending on your situation and goals, you may use either a process portfolio or a project portfolio, or both. To use them effectively, you should identify and prioritize processes that need improvement with a process portfolio, and select and prioritize projects that will deliver the improvement with a project portfolio. Additionally, it is important to align both portfolios with the strategic goals and objectives of the organization, and communicate them clearly and regularly to the stakeholders. Furthermore, you should review and update both portfolios periodically, and adjust them according to the changing needs and expectations of the customers and the market.

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5 Benefits of using both portfolios

Using both a process portfolio and a project portfolio can bring many benefits to your organization, such as improving alignment and integration with the strategy and vision, enhancing visibility and transparency of progress and results, increasing customer and stakeholder value and satisfaction, reducing costs and risks through resource optimization, and improving learning and innovation by capturing and sharing best practices and lessons learned.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What are the best practices for managing multiple process improvement projects?

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1 Process portfolio

2 Project portfolio

3 Process portfolio vs project portfolio

4 How to use both portfolios

5 Benefits of using both portfolios

6 Here’s what else to consider

Business Process Improvement

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