Aligning corporate strategy with the project portfolio mien.pptx
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The document outlines the importance of aligning project portfolios with corporate strategy, emphasizing the need for clear communication of strategy across the organization. It discusses methods for assessing and managing portfolios to ensure they reflect current business priorities and performance. Additionally, it highlights the complexities of executing strategy and the necessity of making tough decisions regarding project execution and change management.
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Thinking techniques which solve issues keeping business leaders up at night
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Aligning corporate strategy with the project portfolio mien.pptx
- 1. Aligning the Project Portfolio to Corporate Strategy Columbus Brown, MBA [email protected] @cb1492 #makeiteasynow #pmbawtor18 Join the Movement & Get This Presentation www.makeiteasynow.com Invest In YOUR Future with Performance Coaching www.wazacoach.com
- 2. About Me
- 3. WHAT ARE WAZA? ©2015-2018, WAZA Consulting, LLC www.makeiteasynow.com
- 4. WAZA | Noun | [wah.zah] 1. Good form, technique 2. Consider, think, imagine WHAT ARE WAZA? Thinking techniques which solve issues keeping business leaders up at night ©2015-2018, WAZA Consulting, LLC www.makeiteasynow.com
- 5. WAZA For Today! Finding the Strategy Assessing the Portfolio Managing Portfolio Change
- 6. Technical Systems ModelingThe business can’T waiT for the perfect plan Waiting for the perfect plan
- 7. What is Strategy? "...broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals" and the "...combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there.“ - Michael Porter “Desirable ends with available means” – Max McKeown
- 8. What is Strategy? The overall scope and direction of a corporation and the way in which its various business operations work together to achieve particular goals. www.businessdictionary.com
- 9. Where is your Companies Strategy? On the back of your badge? Clearly communicated from leadership? In your annual performance goals?
- 10. Where is your Companies Strategy? “Most companies have a more detailed process for ordering post-it notes than for formulating and communicating corporate strategy” – Jeff Scott, Business Innovation Partners
- 11. Finding the Strategy Ask your leadership Annual Reports (Publicly Held) Investor Call Transcripts – Analyst Questions Understand your Industry Model Value proposition, Market, Operations, Costs, Revenues
- 12. Develop Strategy (Why) Determine Bus. Architecture (What) Operationalize Strategy (Where & When) Realize Strategy & Optimize Operations (How) Drive Initiatives & Measure Progress Create/Review Bus. Model & Customer Value Proposition Customer, Industry, Performance & Market Insights Objective ID., Tradeoff & Dependencies Strategic Objective Formulation & Prioritization Finalize Objectives, Articulation Plan & Success Measures Strategy Mapping (Value, Capability, Culture, People, Process, Tech) Current/Target Initiative ID & Alignment Finalize Initiatives & Target State Bus. Arch. Initiative Measurements Assess Business Drivers & Performance Assess Current Initiatives & Realign to Target Strategy Develop Target State Initiative Roadmap Maintain Target State Roadmaps & Bus. Arch. Develop Projects, Manage Innovation & R&D Assess Bus. Process Factors Assess Technology Factors Benefits Realization Mgmt. Assess Portfolio Demands & Performance Operationalize Success Measures STRATEGY OPERATIONS & ANALYSIS BUSINESS ARCHITECTURE – (The &) PROGRAM MANAGEMENT Strategy to Execution Value Stream - Corporate
- 14. Assessing the Portfolio Where is the portfolio? What are we doing today? What are the groupings? What are last years priorities? Do they still make sense? Where are we spending the most effort/dollars?
- 15. Assessing the Portfolio What must be done to keep the lights on? Infrastructure / Safety / Regulatory What is being driven by new priorities? What are the resource constraints? How much can we successfully execute at once? (Size, # of projects)
- 16. Assessing the Portfolio NOW SOON LATER
- 17. Assessing the Portfolio Low Value High Value HighEffortLowEffort
- 18. Assessing the Portfolio IRIS Business Architect www.biz-architect.com
- 19. Strategic Collaboration - QuEST Question Problem Scope Current State Envision Option Development Criteria Tracking Select Reduce the options Take Who does what Interdependencies Reviews Nilofer Merchant
- 21. Rules of Engagement – Portfolio Change Do not run from change Do not jump into the pool of change without a flotation device and swimming lessons Do not antagonize those who don’t desire to swim in change, they will drown you as you try to save them Always look for the high ground, safe haven, cover, or an escape route out of the pool Keep in mind that estimates on the timing for any change you plan needs to have its duration extended by a factor of 10.
- 22. Making the tough decisions 1. Identify the key stakeholders and decision makers 2. Present the current state – Is the Portfolio aligned and why does this matter to the business? 3. What are we executing that mattered yesterday, that no longer matters today? 4. Present the options, with the tradeoffs 5. Be prepared for the risks and the consequences of shining lights in dark place
- 23. What did we learn? Strategy is easily formulated, but hardly executed Determining which projects to execute will always be easier then stopping the ones already started. Managing change to the portfolio means engagement and making tough decisions
- 24. MAKE IT EASY NOW Moving from Parenting to Partnership in Business Relationships Columbus Brown, MBA Part I – Trading Places for Understanding Part II - 5 Ways IT Acts Like Bad Parents Part III – 5 Paths for Partnership www.makeiteasynow.com ©2015-2018, WAZA Consulting, LLC www.makeiteasynow.com
- 25. Let’s talk about your next event ->Columbus Brown, MBA [email protected] @cb1492 #makeiteasynow #pmbawtor18 Join the Movement & Get This Presentation www.makeiteasynow.com Invest In YOUR Future with Performance Coaching www.wazacoach.com THANK YOU! Aligning the Project Portfolio to Corporate Strategy
- 26. Additional Resources – Strategy Books The New How: Creating Business Solutions Through Collaborative Strategy by Nilofer Merchant The Strategy Book :by Max Mckeown
- 27. Additional Resources – Business Models Books Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers by Alexander Osterwalder and Yves Pigneur The Lean Startup: How Today’s Entrepreneurs use continuous innovation to create radically successful business by Eric Ries Value Proposition Design: How to Create Products and Services Customers Want (Strategyzer)