Anticipate, Adapt and Accelerate to increase your business agility
Change is the only constant in life. The old Greek philosopher Heraclitus already said it. We experience several external factors which affect and increase the internal challenges our organizations are facing. Quite often you see this slowly approaching, think about digitalization, economic slowdown, changing customer expectations and the increasing need for sustainability. Sometimes it comes unexpected and causes disruption. The Covid-19 pandemic is an example of that.
But it’s not about the circumstances or the changes that will happen, but how you handle them. What if you are able to embrace the change and utilize it to gain benefit? This starts with being able to adapt to change in a fast and effective manner.
To stay successful, you need to pro-actively anticipate on the changes which can and shall take place. That requires the ability to constantly set and adjust priorities in order to make sure that you invest in those change initiatives which are most relevant to your organization. Adjusting priorities might lead to killing some less important projects, to make room for others. By adapting to change and accelerating decision making you will be able to reach your strategic goals and generate more value to your business.
Meisterplan is a Portfolio Management tool which helps you to achieve this goals of being able to anticipate, adapt and accelerate. It provides visibility in how you can best allocate your resources on those projects which have the highest added value. In order to provide this information, Meisterplan only requires a very limited set of information on the priority, required capacity, cost and benefits of your projects.
Based on the Lean PPMTM principle, it takes four simple steps to generate the optimum scenario for your Project Portfolio.
First of all you need to Strategize. This means defining the organisational strategy and the related criteria to which you score investements in order to come to the real, objective priorities.
The next step is Collect. Here all existing and new change initiatives are collected. Meisterplan only asks you to capture that information which is vital for your portfolio management process. Each change initiative will be scored individually in order to determine their priority. As investments quite often are somehow linked to each other, it’s important to capture those interproject dependencies as well.
During Decide you will start comparing the investments. Based on their individual priorities they will be ranked. Don’t forget to determine whether or not running projects are still on track and generate sufficient value. If necessary, replace them by initiatives with higher value for the organisation. Meisterplan allows you to create mulitple scenarios. You can include or exclude investments, increase or decrease capacity, move investments, etc. This enables you to determine various options for the composition of the portfolio where you seek the optimum between resource allocation, cost and added value to your organizational strategy.
The final step is Execute, in which you communicate the plan and execute it. Meisterplan contains several reports which help to inform your stakeholders about the changes made. Once informed, the project can be executed using the desired methodology and tool. For example, this can be a tradional waterfall approach using Microsoft Project or a more agile approach using Jira.
If you need to be able to pro-actively anticipate on and adapt to those changes which impact your organization, let Meisterplan be your solution to increase business agility and support quick and effective decision making on your project portfolio. Want to see it in action? Reach out to us and we are happy to setup a demo!