Growth and improvement portfolios lead to improved financial results. The previous article addressed creating and launching the portfolio. This article addresses managing the portfolio for results.
Initiatives within a growth and improvement portfolio are distinct projects. Each project goes through a lifecycle - from inception, to execution and completion. Well-established project management tools should be used to ensure high probability of success for each project and, in total, the portfolio.
Senior leadership interaction with the portfolio should be to frame the company’s multi-year strategy in a way that the rest of the organization can formulate and drive initiatives to achieve it. In a mature portfolio process, quarterly leadership reviews give an overview of the entire portfolio, with deeper discussions on large or strategically critical initiatives. The output of the review is to communicate financial benefits that are impacting the company’s results, driven by portfolio actions.
In summary, portfolios that are aligned with strategy and use core project management tools, have an increased probability of delivering financial benefits to a company. We at Wilmarco Technologies help companies build and manage improvement portfolios to drive financial growth and improvement.
Contact us now to discuss how to drive better results at your company through a growth and improvement portfolio.