Viewing Posts by Somnath Ghosh
Lean Portfolio Management to Align Enterprise Strategy
Categories:
Global Summit 2023
Categories: Global Summit 2023
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By: Somnath Ghosh I presented at the PMI Global Summit 2023 in Atlanta. This was a great event with featured speakers, exhibits and networking activities. My presentation Lean Portfolio Management (LPM) to Align Enterprise Strategy focused on data-driven decision making, disciplined intake mechanisms, incremental funding, and consistent feedback loops to inform portfolio planning. We discussed how LPM aligns your organization's strategy with initiatives, enabling you to prioritize them based on their value to your customer and increase your ability to pivot when necessary. It enables you to fund projects based on performance and customer feedback rather than just blindly following a plan, ensuring you build value, see results, and meet customer expectations. Attendees learned to leverage data to enable Lean Portfolio Management, build guardrails for their portfolios, measure what matters, and establish value flow to the customer, while taking advantage of a modernized Portfolio Management approach. During our sessions, we delved into a few intriguing themes, such as “How long does it take to change traditional portfolio management to a LPM”, “Culture and the need to maintain status quo will be a challenge”, “How to get started on making the change”, and “How do you handle initiatives that do not make the cut or get defunded”. The questions posed and the active participation were exceptional. I had a great time presenting, and the full presentation will be on demand through 1 January 2024. Visit PMI Global Summit 2023 for more details.
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Upcoming Presentation: Unleashing Business Outcomes through Lean Portfolio Management: Harmonizing Strategy and Execution
Categories:
Global Summit 2023
Categories: Global Summit 2023
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By: Somnath Ghosh In today's dynamic landscape, where customer expectations evolve alongside rapid technological advancements, traditional methods like annual prioritization and funding no longer suffice. Alarming statistics from Gartner reveal that a staggering 75% of all US IT projects are deemed failures by their initiators, underscoring the disconnection between delivered solutions and intended outcomes, even after diligently adhering to conventional portfolio management methodologies. To thrive in the digital age and fiercely competitive environment, organizations require an approach that seamlessly synchronizes strategy with execution on an ongoing basis. Lean Portfolio Management (LPM) transcends conventional portfolio management by melding lean and agile principles. LPM shines a spotlight on optimizing value delivery, fostering continuous improvement, championing innovation, and aligning strategy with execution. Empowering Decision Makers and Trailblazers LPM empowers leaders by offering them vital insight into ongoing efforts. This empowerment stems from assessing progress through incremental achievements and real-time customer input, steering endeavors in the right direction. This iterative process of adjustment or persistence, rooted in tangible data, helps leaders make informed decisions and optimize their investments for maximal returns. Decentralized Leadership and Bidirectional Objective Setting In the realm of LPM, decisions are a collective effort, determined by those closest to the frontline. The decentralization of administration cultivates an environment of autonomy and agility, where teams can make well-informed choices. This decentralized approach dovetails with bidirectional objective setting, ensuring that strategic aspirations seamlessly align with execution realities. The result? Flexibility for real-time adjustments and refinements as needed. Join Me on Thursday, October 26, 2023, at the PMI Global Summit 2023 to embark on a journey to explore how Lean Portfolio Management has galvanized business accomplishments through the synchronization of strategy and execution. During this session, we will delve into the world of data-driven decision-making, structured intake mechanisms, incremental funding, and the establishment of consistent feedback loops to bolster portfolio planning. Participants will grasp the art of harnessing data to enable lean portfolio management, constructing a protective framework for their portfolios, quantifying impactful metrics, and cultivating a continuous flow of value to the customer, all under the canopy of a reimagined portfolio management paradigm. As the business sphere evolves at an unprecedented pace, Lean Portfolio Management will inevitably ascend to a core approach. Don't miss this chance to stay ahead of the curve and learn about incessantly recalibrating portfolio trajectory, ensuring alignment despite the ceaseless dynamics of the market. See you there! |
