Benefits For All

  Decision Making   Leadership   Portfolio Management   Strategy   ProjectsAtWork  

Does your organization have a clear, consistent process for evaluating new ideas and assessing expected benefits before moving forward with projects? Most important, is the process a true team effort? In this excerpt, the authors present best practices and 8 key questions for validating benefits based on resources, risks and consensus.

Portfolio management has long been a familiar term in investment firms and corporate finance where opportunities are ranked and prioritized, risks are calculated, and the return on investment is ruthlessly tracked. But these tools have seldom been applied to manage operational investments and are almost never extended to consider the organization’s most critical resource – its people and their skills. Taming Change with Portfolio Management: Unify Your Organization, Sharpen Your Strategy, and Create Measurable Value, by Pat Durbin and Terry Doerscher, provides a comprehensive approach to applying portfolio management to new areas of the organization to produce results. 

In this excerpt, the authors present a framework for documenting measurable benefits and validating investments for proposed projects and new initiatives.

Many groups and departments within an organization generate ideas for new initiatives and products. To ensure only the best ideas are selected to proceed requires an evaluation process based on …

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