What does lean portfolio management do for an organization?

 

To understand the benefits of this for an organization, firstly, we need to understand the traditional approach.


In Traditional Approach:


1. People organized in function silos and temporary project teams.

2. Fund projects and project cost accounting.

3. Big up-front, top-down, annual planning and budgeting.

4. Centralized extensive work intake, project overload.

5. Overly detailed business cases based on speculative ROI.

6. Projects governed by phase gates; waterfall milestones, progress measured by task completion.


In Lean-Agile Approach:


1. People organized value streams/ARTs; continuous value flow.

2. Fund value streams, Lean budgets and, guardrails.

3. Value stream budgets adjust dynamically; participatory budgeting.

4. Strategic demand managed by portfolio Kanban: decentralized intake by value streams and ARTs.

5. Lean business cases with MVP, business outcomes hypothesis, agile forecasting, and estimating.

6. Products and services governed by self-managing ARTs, objective measures, and milestones based on working solutions.


Lean Portfolio Management is a process in which a program and product portfolio is managed by applying the concepts of lean thinking. As a result, it delivers high-quality work by prioritizing and managing the work in a Lean portfolio.


Source: What does lean portfolio management do for an organization?



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