Barbara has been an agile trooper for years, helping organisations and individuals to shift to an agile mindset. We were lucky to have her with us 😉
During the evening, we discussed Agile Portfolio Management in detail. Especially the current challenges PMO and Portfolio Managers are facing such as:
- Issues with the yearly budgeting cycle of initiatives
- Insufficient challenging or validating of business cases
- Appetite for change exceeds the capacity to deliver. There is always more Change (defined as an activity such as: projects, programs and change requests) than people
- Poor decision making due to poor management information
If you are experiencing similar challenges, then the Agile Portfolio Management approach from the Agile Business Consortium may help you to tackle them. It has been specifically designed for it!
One major advantage of this approach is, that it is delivery agnostic. It is like an umbrella, sitting on top of your delivery approaches, which can be traditional such as PMBOK or PRINCE2 or using agile approaches like SAFe, LeSS, Scrum or Lean. Or just a combination of it, as most companies do. It really doesn’t matter.
Agile Portfolio Management is based on the underlying six core behaviours. Which are:
- Focus on the creation of Value.
Base the Business Strategy on creating value for stakeholders and customers and keep it relevant as this evolves.
- Review the portfolio continuously.
Continuously evaluate the portfolio to reflect evolving strategy and the changing environment the business operates within.
- Involve the right people to shape and manage the portfolio.
Ensure the right people are involved, use their experience, capabilities and aspiration to improve changes of susses outcomes.
- Clearly and continuously demonstrate that the portfolio is delivering optimum value.
Always be able to demonstrate that the portfolio is delivering the right value at the right time.
- Encourage innovation and creativity.
Welcome new ideas from anywhere at any time.
- Encourage collaboration and empowerment.
Create an environment where empowered people from multiple disciplines across the organisation collaborate to deliver change.
Some people might ask: Why do we need Agile Portfolio Management? Can’t we continue the way we are doing business now?
The answer to this could be as followed: Agile Portfolio Management recognises that many organisations use a blend of Agile and non-agile approaches. Consequently, it has an inbuilt flexibility to deal with all organisational change. When implemented successfully, it can deliver following improvements:
- The ability to adapt to a fast changing market environment
- Delivering value fast enough to beat competition
- Ensuring effort is spend on the most important things
- Increased Customer satisfaction
- More engaged workforce
- Better realisation of strategic goals and benefits?
So, why wouldn’t you start with Agile Portfolio Management?
For further information, you can download the slides from our PMO Meetup here: Agile-Portfolio-Management-Barbara-Roberts.pdf (727 downloads) .
The Agile Portfolio Management mini book is available from the Agile Business Consortium. For more information or to order a copy, please email: firstname.lastname@example.org