Are your project portfolios achieving the desired results?
by Amber Roman, on May 23, 2018 2:22:45 PM
It comes down to the "alignment challenge."
Where is your alignment challenge? If you could pin point where it is today, where would it fall? A recent article I read from MIT Sloan Management Review, "No one knows your strategy, not even your top leaders," discusses the surprising reasons why leadership doesn't know their organization's strategy. The most surprising point was that the authors believe top leadership must "agree on single set of objectives for the business as a whole, and that just over half of senior executives converged on the same list of strategic objectives."
That means the remaining half of leadership is not agreeing on the same set of strategic objectives, leading to multiple agendas competing for the same resources (people, technology, budget). Having differences in strategic priorities directly impacts the ability to measure projects and programs value delivery which leads to project/program managers only managing to time and budget. Managing value/benefit realization can't be done if there is not an agreed upon set of strategic objectives.
If the top layer of leadership in an organization is misaligned or unable to articulate strategic objectives, just imagine the mid-management layer directly below being aligned to strategic objectives!
That doesn't leave mid-management with much choice but to follow the lead of their executive, and the research indicated that the layer below mid-management was to able effectively align but clearly around the wrong things.
In these situations, PMOs can then fall into the trap of executing the wrong work without a framework to facilitate alignment of competing "agendas." Capability-based management and planning addresses this challenge by doing two things: Creates an agreed upon set of strategic objectives and defines the capabilities needed to achieve them. This creates a set of strategic objectives to close the alignment gap. Check out our webinar to learn more about how you can address this challenge.
Accelare Upcoming Webinar:
Do you have what it takes to know when to grease or replace the squeaky wheel?
Learn how some companies are filtering the noise from the squeaky wheel and rationing a portion of spending to build needed future state capabilities. Register now for webinar on Friday, June 8, 2018 from 12:30 to 1:30 ET. Webinar leaders will be Amber Román and Richard Lynch.