John Kotter, acclaimed author and former Harvard Business School professor, recently wrote that:
“Strategy should be viewed as a dynamic force that constantly seeks opportunities, identifies initiatives that will capitalize on them, and completes those initiatives swiftly and efficiently.”
He recognizes the inextricable link between strategy and execution, which is where project, program and portfolio management deliver unparalleled value to organizations.
Linking organizational strategy to portfolio development is critical, particularly when company strategy involves both a high degree of innovation and a high rate of growth. Across multiple sectors and geographic regions, top-performing businesses display strong management support for portfolio selection and management, using formal portfolio management methods to manage their portfolio strategy within the context of the enterprise business strategy.
However, the successful implementation of an organizational strategy has, in most cases, been an insurmountable challenge to most practitioners as it fails to yield anticipated benefits. A few factors that may lead to this are:
At BRISK Business Inc. our Subject Matter Experts are best positioned to translate our customers’ strategies in portfolios, sub-portfolios, programs and projects that in their aggregation satisfy the entirety of the Strategy’s objectives. We work with our clients on the definition, evaluation, selection, prioritization, alignment and optimization of all strategic programs and projects, while developing and deploying the frameworks and processes for execution, monitoring, control and transitioning of all initiatives, providing senior management with real-time information and status reporting to aide decision making.
Our strategic portfolio classification framework is based on the need to select projects due to their strategic impact and to form a policy for project selection. We identify risk and outsourcing as having a particularly strong impact on portfolio selection and management. One key criterion for successfully applying risk evaluation in portfolio selection is that risk assessment and quantification be uniformly applied across all projects and teams, a requirement now mandated by good governance.
Because we understand the reiterative nature of Strategy formulation, our framework is responsive to changes in strategy and provides the organizational agility necessary for constant alignment.
All services performed by BRISK Business Inc. are in complete alignment with the Project Management Institute (PMI®)’s standards, practice guides, and best practices.
Contact us to start a conversation of how our Strategy Execution Framework can best serve your organization.
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