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Elevating IT with strategic portfolio management

Import · Jul 22, 2024 · video

And that’s one of the big things with our clients that we introduce new capabilities is around benefit planning. And when we talk about that, what that really is there’s a lot of people say, “Oh, what’s the ROI? What’s the return on investment? I really want to know that.” We can’t do an ROI calculation without understanding what the benefits are out the back end, because you spend all this money during the project, but to what end? And so, if you don’t do that estimate up front, we can’t do the ROI calculation. And so there are some advanced financial concepts on the front end there that we like to help people adapt and adopt so that they can see more of what’s going on once the project does execute. And, of course, again, if you are doing project management and just doing the normal red, green, yellow status reporting there, it’s really hard to get that lean governance going where you’re making the hard trade-off decisions to say, “Hey, the schedule is going to slip by six months. What do we do with that project? What do we do with the resources assigned to that?” And it can really help to change governance. And one of the concepts we talk about a lot when we’re engaging our customers is this bridge between the business and IT. And by changing this conversation and having more of this language of the business, the benefit realization, the risk management, the goal achievement, that bridge starts to build, and you change the conversations, and you bring the business in and say, “Here’s what we know. How do you want to order this?” And that forms a true strategic partnership. And that really elevates IT. A lot of times, we expect that partnership to form, but you really got to get this governance down to start to build that bridge.

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