What you have to do to improve strategic planning and Lean portfolio management
Strategic planning and Lean Portfolio management is a critical part of a company’s value stream. Its purpose is to create a guide for the work the company does. This includes both products, services, internal work and improvements to the organization. Leadership’s role is to set direction, plan for it and provide visibility to the rest of the organization about this.
Attending to strategic planning is a first step in adopting a “project to product” mentality. Accomplishing this can make improving the budgetary process much simpler.
Improving strategic planning and Lean portfolio management requires the following:
What challenges fixing strategic planning and Lean portfolio management improve
Ineffective Budgetary Process
Strategic planning and Lean portfolio management helps fix the budgetary process because sit gets us thinking about the long term value of our products and services. It is much easier to budget for long standing initiatives.
Lack of Visibility: Line of Site to Strategy
Strategic planning and Lean portfolio management provides visibility as to why something is useful. It is, of course, necessary to tie all artifacts back to these insights.