What is Portfolio Management?
Every organization needs a way to make decisions about the initiatives they champion and deliver each year. However, it can be difficult to compare apples to oranges (e.g., a Human Resource applicant tracking system compared to a document storage system). When the choices are more than a couple of dozen, organizations benefit from a standardized, objective decision-making support system. Portfolio management is the key. Once projects are launched, there should be a process in place to check status, and if needed, enable the brakes to be applied. Canceling a project can be difficult, especially if there are no criteria that signal when it is time for the end nor a process for bringing the initiative to a controlled stop.
TSI works with its clients to put standards in place for better decision-making. Teams are empowered with work-in-take processes, formalized business cases, decision-making criteria, and support tools that enable decision-makers to objectively plot the course. Projects are investments. An investment portfolio requires analysis to set up, ongoing care, continued oversight, and effective methods to remove assets from the portfolio. Operational portfolios require the same tools.
Why you need Portfolio Management
When management launches every project that comes into the pipeline, they are faced with resource constraints and face under delivery in terms of value. If initiatives are championed by the leader with the biggest title or the largest voice at the table, the decision makers may sub-optimize its investment. When new opportunities are presented, and there is no standardized method for evaluation, the organization may swap out the wrong initiatives. TSI will work with you to avoid these pitfalls and stand-up controls that enable, instead of hinder, your progress.
Why Work With Us?
Similarly to how an advisor can help you manage your investment portfolio, TSI will help you manage your project portfolio. We have methods for vetting your initiatives and helping you make the best choices. Objective decision making processes (e.g., analytic hierarchy process) can be tailored to your particular requirements.
Don’t experiment with lots of data on your own. Leverage our experience for better results.