While similar to general budgeting, the Portfolio Management process differs from budgeting in its laser-tight focus on project and program groups. We define portfolio management as the management process that seeks to analyze, select, and manage the execution of, the best mixture of projects that will deliver the most value, at the best price, to the organization’s goals and objectives.
Many organizations today have implemented or are considering implementing a “PMO” – a portfolio management organization. Typically, their efforts focus on implementing a “portfolio management” software tool. While helpful, the vast majority of these tools focus almost to exclusion on the back-end of portfolio management – the execution and management of projects after they have been selected.
At Synth Solutions we focus on the front end of portfolio management, where portfolio leadership and governance occur. In this most important piece of a portfolio solution, the organization is tasked with identifying goals and objectives, setting policy, and prioritizing and aligning projects, initiatives and investments with objectives.
Expert Choice provides a powerful yet simple portfolio alignment capability that delivers value quickly, takes the complexity out of portfolio management, and gets the organization to focus first on what matters most – selecting the right projects.
Using the Analytic Hierarchy Process (AHP) methodology, this approach helps you first align your initiatives with your goals and objectives, producing a benefit score. Second, it uses a technique that finds the best mixture of initiatives that will create the most value toward your goals and objectives, while staying within your organizational constraints. This technique, called optimization, has been shown to save organizations tens of thousands – if not millions – of dollars in the first implementation.
At Synth Solutions we can help your team optimize and balance its portfolio, and teach you how to do it yourselves on an ongoing basis. Using our PortfolioSynth™ methodology, we take a systems approach to portfolio management that unites portfolio planning, with project execution and performance measurement – taking into account the full project and portfolio lifecycle.
We offer several solutions to help your portfolio alignment efforts succeed:
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