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No company has the resources to meet all of its business needs. A portfolio management process provides a way to select, prioritize, authorize and manage the totality of work in the organization. This includes work that has been completed, work in-progress and work that has been approved for the future.
Managers that do not understand how their budgets are spent, and who cannot validate that scarce resources are assigned to work that is of the most value, will find themselves under greater scrutiny and second-guessing in the future. Portfolio management can help your organization answer some of the most basic, yet difficult, questions regarding work performed and value provided.
TenStep, Inc. has a predefined model for implementing portfolio management in your organization using our six step model:
When you manage your work as a portfolio, you change the emphasis from the costs of each initiative to the value provided. If the value (and alignment) is right, the work will get authorized. If the value is not there, the work should be eliminated, cut or backlogged. This focus on value is especially appealing to the IT organization, which has traditionally been seen as a cost to the business rather than an enabler for providing business value.
Let us help you with the following portfolio management services.
A one-day workshop to show you the basics of portfolio management and to get you thinking of some of the fundamental decisions you need to make.
Facilitated sessions that will help you define the portfolio model that best meets your needs.
A complete and customized business planning process that will determine the work that gets added to the portfolio.
A framework to manage the portfolio and to deal with new work that arises during the year.
TenStep, Inc. understands the value of portfolio management and the challenges in getting it established. Let us use our portfolio management framework to help you implement this critical resource management tool in your organization.