Few things in business are as open to interpretation as Portfolio Management
And that's unfortunate because I've rarely found an organization that wouldn't be significantly strengthened by employing this discipline in a meaningful way.
So what is it? Well frankly, it means the same thing it does when your retirement advisor says it. Deciding what to invest your money (and time) in.
What should we be doing? What should we stop doing? What are we actually doing? Where is the money going? What's making us money? What brings value? And where are we going next? How do we position ourselves to take advantage of what's coming?
Of those questions, I've found the third to usually be the most illuminating for the groups I've worked with. Because if you aren't inventorying, tracking, and analyzing what projects are being worked on, what products are being offered, and what services are being consumed you'll never really grasp how essential it is to carefully manage the entire portfolio.
Sounds like a lot of work no one has time to do, right? But there are many experts out there that will tell you only focusing on the urgent-important and ignoring the non-urgent-important will eventually lead to trouble, but more insidiously, it stunts a business from really succeeding. You won't know what you're missing or how steep your growth curve could be. You won't know what risks you could and should take or what opportunities you're driving right past.
A great first step in remedying this is to get those ambitious yet frustrating employees from all levels of your organization together with your head of finance in order to begin to see the extent of the problem. If this sounds like something you're ready to do, Frameadapt is happy to help. Contact us for a free consultation.
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