Portfolio Management - Linking Strategy with Execution

Portfolio Management - Linking Strategy with Execution

The strategic differentiation for businesses was never achieved on ideas alone, but in their ability to execute good ideas and turn them into tangible benefits. Project and program management have been the disciplines of choice for executing complex initiatives, yet the success rates are dismal due to doing the wrong projects and weak executive support. This is where portfolio management comes into play, providing a disciplined approach to project selection and aligning them with organizational objectives. Highly effective portfolio management can yield a 36% improvement on completing projects on time and 29% for return on investment. PMI identified five drivers to effective portfolio management, including senior management receptivity, competent portfolio governance, standardized metrics and criteria, consistency and logic of organizational strategic objectives, and mature project management office.

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