A few high value projects may get approved, but “money” is left on the table as a result of not taking action on those good project candidates. In some cases, the rigor to do a good cost-benefit analysis is absent and makes it difficult to communicate how much ‘value’ is being ignored by not taking on additional projects due to strong cost cutting measures. Such extreme cost cutting also has the negative residual effect of discouraging innovation among employees.
My personal approach is to right-size portfolio management processes to fit an organization's culture and maturity to be effective without creating a bureaucracy. Please contact me if you would like to know more about how project portfolio management (PPM) can help your organization achieve its strategic goals.
Latest posts by Tim Washington (see all)
- A Guide to Building a Project Prioritization Scoring Model - September 4, 2018
- Know The Difference Between Work Intake Versus Stage-Gate - April 1, 2018
- Beware of Project Dependencies - July 9, 2017