Project Management Office

Lean Portfolio Management: Ways to Implement It

Managing projects in an Agile team is not an easy task. Whether it is SAFe or Scrum, the idea is to help the team quickly achieve their goals. What if easily achievable goals do not meet clients’ expectations or needs? How do you ensure that your teams complete clients’ jobs at the right time with the right technology? This is where lean portfolio management plays a vital role. In this article at Gartner, Ashutosh Gupta explains how to implement lean portfolio management in your organization.

Steps to Follow

Plan Execution Methods

The first step to consider is planning task execution methods. This step involves brainstorming or strategizing among team members. Under this process, an Agile team will plan execution methods to increase business outcomes based on existing data. As team members are a significant part of decision-making, they must actively suggest execution methods.

Identify Value Streams

Instead of setting milestones based on traditional portfolio management systems, divide projects into value streams. Independently consider each value stream. Since value streams are crucial for lean portfolio management, your team can visualize and present them.

Deliver Software in Batches

Delivering software in incremental batches will help you ensure that the product you provide meets the customers’ expectations. If the team receives negative feedback after delivering a batch, they can only work on that batch and not the whole project.

Plan

When you send a completed product to customers, they may not be happy with some features. This undoubtedly increases your teams’ workload as teams may have to rework a lot of features. Often, this may require a complete overhaul of the software. Lean portfolio management enables your team to plan and replan the execution process and avoid repeating those underwhelming features.

To read the original article, click on https://www.gartner.com/smarterwithgartner/3-steps-to-start-lean-portfolio-management/.

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