In recent years, there has been a significant shift in the way organisations approach portfolio management, with many turning towards Lean principles to drive efficiency and innovation. Revolutionize Your Business with Lean Portfolio Management . This evolution towards Lean Portfolio Management (LPM) represents a new era in which businesses are striving to streamline their processes, eliminate waste, and deliver value to customers in a more agile and responsive manner.
The concept of Lean Portfolio Management is rooted in the principles of Lean thinking, which originated in the manufacturing sector but has since been applied to various industries and functions. At its core, Lean is about continuously improving processes, reducing inefficiencies, and focusing on delivering value to customers. By applying these principles to portfolio management, organisations can better align their strategic objectives with their day-to-day operations, prioritize initiatives based on customer value, and adapt quickly to changing market conditions.
One of the key elements of Lean Portfolio Management is the concept of value stream mapping, which involves identifying and visualising the end-to-end process of delivering value to customers. By mapping out each step in the value stream, organisations can identify bottlenecks, inefficiencies, and areas for improvement, ultimately leading to a more streamlined and effective portfolio management process.
Another important aspect of Lean Portfolio Management is the focus on continuous improvement and learning. By embracing a culture of experimentation, feedback, and adaptation, organisations can quickly identify what works and what doesnt, enabling them to make informed decisions and pivot as needed.
Overall, the evolution of Lean Portfolio Management represents a shift towards a more customer-centric, agile, and efficient approach to portfolio management. By embracing Lean principles and practices, organisations can drive innovation, improve decision-making, and deliver value to customers in a more effective and sustainable way.