The warning signs are all too familiar: too many active programmes, not enough resources, unrealistic pressure to deliver and a never-ending pipeline of ‘urgent’ new requests. If you recognise these, then you may have a large-scale change portfolio that is out of control.
The simple reality is that not all projects are created equal. In the eyes of many sponsors, theirs is the most important. So, how do you break this cycle and deliver what is most important to the business?
The first step is for the executive team to champion and support portfolio management. It needs to be a part of an organisation’s DNA. Then separate your governance of investment decisions from portfolio and programme oversight, capture demand from across your business, not just from those who shout loudest and qualify demand to weed out ‘pet projects’ that add little value. Finally prioritise and rank the portfolio against a set of criteria that enables delivery of the business strategy and stop programmes that are ranked low.
Then build your roadmap with key milestones, estimated resources, mapping of key dependencies to inform sequencing and a plan that sets out the schedule and phasing of the changes.