With innovation at the forefront of every company’s priority list, leadership teams are under pressure to continuously improve their program investment. It’s not just how fast companies can improve, the question for leaders is what to invest in? McKinsey has estimated that 80% of traditional business models are at risk of failure within the next few years. This puts added pressure to innovate in an efficient way.
Enter: Strategic Portfolio Management (SPM). SPM enables a continuous process for delivery and data-backed metrics that fits seamlessly into current PPM practices.
Existing PPM practice takes strategic value into consideration but unfortunately does not include an ever-changing business environment outside the walls of an organization. SPM allows insight into this current gap in the PPM structure. By doing the right projects at the right time using ever-present data points, businesses can adapt to changing environments.
The past 18 months have presented a perfect use case in the need for agile prioritization. The emergence of a global pandemic urgently demanded the ability to refocus program needs across every industry. With SPM, this adjustment can more easily be implemented.
Continuously improve your optimization efforts when it comes to strategic programs with SPM. Find out how it can start working for your business today.