Project Portfolio Management - align your strategic activitiesHow do organisations actually execute strategy? They execute their strategy, deliver on performance objectives and manage risk through their activities; the programmes, projects, and initiatives which they undertake.
Aligning activities to deliver performance objectives or mitigate risks is a challenge for many organisations. However achieving high levels of alignment represents a significant opportunity to drive execution, focus resources and significantly reduce costs by rationalising your portfolio of activities.
Manigent supports clients to implement a project portfolio management approach as part of a wider performance and/or risk management project. In such projects, once objectives and risks are defined, we encourage clients to undertake a project alignment and rationalisation exercise. Typically this generates fast, tangible benefits that help build buy-in, support and momentum for wider change.
Research highlights the benefits of project portfolio management. One study shows a formal project prioritisation process can accelerate decision-making by up to 5 times. Another study found that project portfolio management can improve productivity to the value of £650 per employee per month.
Manigent works with management teams to support their organisations as they deploy a project portfolio management agenda. We work to develop technology-enabled management processes and capabilities in five areas:
Manage – the capability to balance a portfolio of programmes and projects.
Align – the capability to understand which strategic activities most effectively drive performance and mitigate risk.
Monitor – the capability to understand what current and past levels of project performance and risk are.
Analyse – the capability to understand why project execution is at current levels.
Plan – the capability to continuously optimise the project portfolio.
Benefits of Project Portfolio Management
- Improve strategic execution.
- Speed up decision-making by up to 5 times.
- Improve productivity up to the value of £650 per employee per month.
- Reduce costs and waste through project rationalisation.