Agile Portfolio Management (AgilePfM™) can transform portfolios from an elegant “still life” photo to a dynamic, interactive experience with the key players in the driving seat. That is, the business leaders who understand where they want to go from a strategic perspective, are able to navigate the most efficient route to their destination based on up-to-date business conditions.
This book focuses on management of a single portfolio. Some organisations divide their portfolio into several smaller ones, and large complex organisations may have a whole hierarchy of portfolios. The topic of complex portfolios will be addressed in a supplementary Complex Agile Portfolios publication.
What is Agile Portfolio Management?
Portfolio management enables organisations to select, prioritise and execute the optimum blend of change initiatives that deliver business value by coordinating processes and decision-making.
Many organisations using portfolio management still have challenges which an agile approach can resolve, such as:
- Difficulty incorporating change and ensuring the right things are done at the right time due to fixed long-term plans and budgets
- Limited organisational effectiveness caused by over-detailed early-stage planning, and lack of day-to-day testing of the strategy
- Failure to consider stakeholders, especially those closest to changes, in strategy and portfolio decisions
- Insufficient challenging or validating of business cases
- Appetite for change which exceeds the capacity to deliver it
- Poor decision-making due to poor management information
Agile Portfolio Management from the Agile Business Consortium has been specifically designed to address these challenges.