WHAT IS IT?

Portfolio Management is a structured framework approach and process for defining the annual business planning process where companies determine what work is going to be authorised for the following  year(s). It is an on-going enterprise activity that ensures that projects across the portfolio are aligned with the overall organisational strategy and ROI expectations.

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WHY IS IT IMPORTANT?

Top 5 Reasons for Implementing

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Better Decision Making

It enables better decision making by providing a  well defined framework make good decisions by providing good, consistent data, visibility and transparency, quantifiable metrics of success that align to corporate strategy.

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Minimise Risk

Proves an accountability framework across the entire organisation to reduce risk by identifying the risks, assessing potential outcomes and enabling well informed decision making.

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Maximise Resources

Ensuring your employees are working on initiatives that deliver greatest benefits and that are aligned to corporate strategy.

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Prove value to stakeholders

By measuring all initiatives with quantifiable metrics that are validated and checked regularly

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Ensure repeatable success

By taking learnings across all initiatives, good and bad implementing enterprise wide

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BEST PRACTICE

10 Steps to Follow

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Step 01: Portfolio Set Up and Categorisation

1. Revenue Driving - New customers

2. Revenue Retention - Existing Customers

3. Cost Reduction/Scalability

4. Risk, Compliance, Legals, Regulatory

Each portfolio categorisation should have key measures of success, i.e. $40M Revenue in 2017.

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Step 02: Identify Needs and Opportunities

The following deliverables will identify needs and opportunities:

1. Current State Assessment

2. Future State Vision

3. Gap Analysis

4. SWOT Analysis

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Step 03: Evaluate Options

Categorise the initiatives using the portfolio groupings.

Define Standardised Criteria for measuring initiatives

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Step 04. Select Work

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Step 05: Prioritise Work

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Step 06: Balance and Optimise the Portfolio

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Step 07: Authorise the work

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Step 08: Plan and Execute the work(Activation of Projects, Programmes, Other Work)

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Step 09: Portfolio Status Reporting

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Step 10: Improve the portfolio(Launch products, harvest benefits, feedback, change strategy)