What are the main challenges of running multiple projects?
- With multiple operational and strategic projects under review and in-flight at any given moment in time, it can be difficult to step back and "see the big picture".
- How can you assess whether or not all the initiatives will effectively contribute towards achieving the overall corporate strategic and business objectives and how to select the right ones?
- The process of planning and running large and complex portfolios needs to be done on an ongoing basis, not just as an annual exercise. How can you create the process and governance structure to put this in place?
- Initiated projects are not expected to lead to satisfactory results, or quickly become problematic. How can you understand what the options are and whether it is necessary to stop the project?
KPMG Advisory considers portfolio management at Board level, focusing on prioritizing and balancing the organization's resources with its appetite for risk. KPMG Advisory can help ensure alignment with strategic objectives and enhance the value of its investment in change initiatives.
Through a process of discovery, analysis and change, the end phase of Portfolio Management would look to enable an organization to achieve certain goals, such as:
- Ensuring that all new and existing projects are aligned to the organisation’s strategy and objectives;
- Developing a ‘Big Picture’ view and providing transparency on the collection of projects, as a whole;
- Creating an objective methodology for identifying, ranking, prioritising and selecting new projects;
- Removing low value projects from the portfolio;
- Ensuring there is a healthy balance among the projects in the portfolio;
- Providing a detailed understanding of the expected benefits from these initiatives and how to report such information.