Planning for Portfolio Success

The world is a constantly changing place. Consequently any sizable enterprise will have a lot of programmes and projects going on at once if it is to survive and adapt (from internal infrastructure changes to front-line business development initiatives). These programmes and projects can enable an enterprise to survive and thrive if done right or can be its death if left to run wild.

How can an enterprise ensure that these programmes and projects lead to success rather than the scrap heap?

• What constitutes success for the enterprise?
• How can the enterprise best allocate its resources to programmes, projects and business as usual to ensure success?
• How can the enterprise remain flexible and adaptable enough to succeed in the face of adversity and exploit opportunities to increase success?

The answer falls under the broad umbrella of portfolio management. The dependency map below shows the benefits of good portfolio management and some initiatives for achieving it.

Given the potential scope and breadth of portfolio management I'm sure this diagram is not yet comprehensive; feel free to post your comments below and I'll rework the map to include them.

If you find this diagram helpful, feel free to re-use, alter and reproduce it as you feel fit.
The diagram was created and can be edited (for free) in a visual programme mapping tool called Realisor.

Links:

• Get Realisor Free Edition to edit the map
• Get the map shown above

Planning for Project Success

In many industries, not mentioning any names.., it is common for projects and programmes to run over- time, run over-budget and under-deliver. Whilst there are lots of potential reasons for failures, being able to answer three simple questions will greatly increase the probability of programme success.
These questions are:

1. What does measurable success look like for the programme (i.e. what is it trying to achieve)?
2. What activities will the programme conduct, what will those activities cost and how will they each contribute to success?
3. How will the programme measure success through-life, spot problems and act to ensure success?

The dependency map below shows some simple steps for answering these questions and getting your programme heading the right way from the start.

If you feel something important is missing feel free to post your comments below and I'll rework the map to include them.

If you find this diagram helpful, feel free to re-use, alter and reproduce it as you feel fit.
The diagram was created and can be edited (for free) in a visual programme mapping tool called Realisor.

Links:

• Get Realisor Free Edition to edit the map
• Get the map shown above