Lean Portfolio Management (LPM) is a powerful approach that helps organisations align their strategy and execution by applying lean and agile principles at the portfolio level. 5 Steps to Implement Lean Portfolio Management Successfully . This ultimate guide is designed for beginners who are looking to understand and implement LPM in their organisation.
LPM provides a structured framework for managing and prioritising a portfolio of projects, initiatives and investments to achieve strategic goals. It helps organisations to focus on delivering value to customers, improving efficiency and reducing waste.
One of the key principles of LPM is prioritising work based on value and impact. This means that organisations should focus on delivering the most valuable projects first and continuously evaluate and adjust priorities based on changing business needs.
Another important aspect of LPM is visualising and managing the flow of work. By visualising the flow of work, organisations can identify bottlenecks and inefficiencies and make data-driven decisions to improve the flow of work.
LPM also emphasises the importance of empowering teams and individuals to make decisions and take ownership of their work. By giving teams the autonomy to make decisions, organisations can increase productivity, creativity and innovation.
In conclusion, Lean Portfolio Management is a powerful approach that can help organisations align their strategy and execution, prioritise work based on value and impact, visualise and manage the flow of work, and empower teams and individuals to make decisions. This ultimate guide is a valuable resource for beginners who are looking to implement LPM in their organisation and achieve strategic goals.