In todays fast-paced business environment, organisations must be able to quickly adapt and respond to changes in order to stay competitive. How Lean Portfolio Management Sparks Business Innovation . This requires a high level of organisational agility, or the ability to swiftly pivot and adjust course as needed. One approach that can help boost organisational agility is Lean Portfolio Management.
Lean Portfolio Management is a strategic approach that aligns strategy, execution, and delivery to drive business outcomes. By applying lean and agile principles at the portfolio level, organisations can better prioritise and deliver value, reduce waste, and foster a culture of continuous improvement.
One key aspect of Lean Portfolio Management is the emphasis on empowering teams and individuals to make decisions and take ownership of their work. This helps to foster a sense of ownership and accountability, leading to increased motivation and engagement. By giving teams the autonomy to make decisions and adapt their approach as needed, organisations can respond more quickly to changing market conditions and customer needs.
Another important aspect of Lean Portfolio Management is the focus on value delivery. By prioritising work based on the value it delivers to the organisation and its customers, organisations can ensure that they are maximising their return on investment and delivering the most impactful outcomes. This helps to ensure that resources are allocated effectively and that the organisation is focusing on the initiatives that will drive the greatest value.
Overall, Lean Portfolio Management can help organisations to boost their agility by enabling them to quickly adapt to changing market conditions, deliver value more effectively, and foster a culture of continuous improvement. By applying lean and agile principles at the portfolio level, organisations can better align strategy with execution, reduce waste, and drive better business outcomes.