This week, Dan Neumann is joined by Misi Eyetsemitan to address the topic of Portfolio Management in an Agile ecosystem.

In this episode, they discuss Agile Portfolio Management as a dynamic approach that enables organizations to effectively manage and prioritize their projects, initiatives, and investments. Dan and Misi explore how Agile Portfolio Management embraces flexibility, adaptability, and continuous learning. This transformative approach empowers teams to respond quickly to changing market demands, seize opportunities, and deliver value incrementally. In this rapidly evolving business landscape, Agile Portfolio Management is a vital framework for organizations seeking to navigate complexity, drive innovation, and achieve sustainable success; listen to today’s episode and learn more about its implementation, benefits, factors, components, and even its challenges.

Key Takeaways

Challenges when implementing an Agile Portfolio Management:

Trying to do too much can be an obstacle.
Scaling can be complex when an organization is transforming to Agility.
Mindset changes are needed!
Context switching can be painful.
In the hands of the customer, everything cannot represent the same value.

Shifting from a project mindset to a product mindset.

Shift to a customer-centered practice; this is a paradigm shift. Ask: What kind of product does our customer want? What does this product mean to the customer?
Agile Portfolio Management is a Team Sport; it pertains to all the organization.

Agile Portfolio Management is a good platform for business Agility.

Organizations can deliver great value in the customers’ hands as a result of working with Agile Portfolio Management.
There is continuous planning since there is a constant evaluation of the ongoing process.
It is very useful to leverage insights from the market, the customer, and those executing the development.

Factors that need to be considered when making decisions in terms of what is most valuable:

Cost of delay.
Value in the hand of the customer.
What needs to be prioritized? What are our: Must haves, Could Haves, and Should haves?

What are the components of Portfolio Management?

Trust must exist not only for leaders but for those who execute.
There needs to be a system alignment in respect of what the priorities are.
Consistent communication and partnership, everyone needs to understand the “whys.”

How to get started in Portfolio Management:

It can be a challenge to hoard money at the beginning to realize later that it needs to be spent or there won’t be the same amount the following year.
To successfully implement an Agile Portfolio Management there needs to be transparency and trust.
Decentralization of decision-making, especially at the local level. Teams need to be able to scale the Agile Mindset across the organization.
Implementing customer-centric strategies all across the organization.

Mentioned in this Episode:

Agile Portfolio Management, by Jochen Krebs

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