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"Six Principles of Strategic Portfolio Management"
Tools to align Finance and Innovation to Unlock Breakthrough Growth
Strategic portfolio management is 'doing the right projects' (vs. the operational view of 'doing the project right.'. While operational tools have their place, they fall short in supporting decisions about where and how much to invest to optimize the value of project and product portfolios. 80% or more of new products fail*, and SPM aims to improve the odds of success and the returns on successful products
To optimize decision that drive top-line and bottom-line value, companies need to consider three distinct areas: economic, resources and process.
Economic – the What: selecting the most promising projects in which to invest, allocating resources, and developing a balanced risk vs. reward portfolio.
Resources - the Who: achieving StageGate goals, allocating and managing human resources, budgeting and day-do-day project management.
Process - The How: the project/portfolio management process from ideation and concepts to commercial launch.
* According to numerous studies.
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