In this Part 7 we will cover:
Tips on Step 10 - Improve the Portfolio (Benefits & Change)
Improving the portfolio may just mean that you want to juggle the work, or the Portfolio Components, around a bit. Or it may be you can see ways to improve the portfolio management processes. Generally, these are relatively minor moves that you can make with little difficulty and little fan fair. Much more likely is that you need to redirect the goals of your portfolio as a result of a strategic change ordained by executive management with a consequent need for portfolio "improvement".
However, this is not likely to happen until management can see and experience the results of the portfolio outcomes in terms of the actual benefits being realized. And this in turn will not be clear until three important intermediate steps have taken place all of which fall within the responsibility of the Operations people. For this reason we have grouped the following four sequential headings together as a part of this Step 10 - Improve the Portfolio.
They may be collectively described as Strategic Change and are:
- Product launch
- Benefits harvesting
- Benefits reporting, and
- Improving the portfolio