Co-founder and Vice President, SmartOrg Inc.
project managers and department heads in making decisions that will affect
their teams, the process of portfolio management for some companies has focused
on the needs of the C-suite executives and management first. Decisions that
affect the teams working on project may be made behind closed doors with little
thought put into how those decisions would impact those teams. Access to the
data that is used to make decisions is limited to a privileged few, and project
leaders are then handed these decisions, given no voice in the process and
given the daunting task of disseminating them to their teams, whether anyone
likes it or not. By handling portfolio management in this way, stakeholders,
project managers ' and, indeed, all participants ' are left feeling
disconnected and disenfranchised from the process. The work is often viewed as
large-scale drudgery and overall morale I s negatively impacted.
stakeholders participate in the process and have a voice. Those people who are
most invested in the decisions and motivated to seek the best possible results
find the process useful in guiding their work. And the rationale of the final
decisions that was made is stored (rather than ignored) and becomes a
repository of knowledge for supporting ongoing decisions throughout development
and commercialization. It's the difference between facts and knowledge and it
has a profound effect on every aspect of a company's operations.
supports it, creates a forum for all stakeholders to participate and for the
decision-making process and strategy to be communicated openly. All
participants have a voice and are able to contribute to the final decision,
which promotes individual investment in the outcome. An inclusive process is
understood by all, eliminates paralysis through analysis and reliance on
spreadsheets that need to be reworked and intelligible.
your decision-making process to benefit from it. The more involvement that stakeholders
have in the process, the more infested they will be in implementing decisions
and the more likely they will be to engage in ensuring success.