Strategic Portfolio Management (SPM)
Strategic Portfolio Management (SPM) is the combination of business processes and software that addresses “strategic portfolio management” for the enterprise. Organization must be able to define their overall strategic plans and objectives and set strategic goals. It is critical that these goals not simply be high level, and they must also be “time-phased” meaning the goals should specify the time period which they will be measured against.
Having an SPM capability means putting in place processes and tools to define and measure the following:
- Day-to-day work
The practice ensures any major item in the portfolio meets the desired results.
SPM also includes a capability to monitor in-flight projects and initiatives, as well as Agile product lifecycles and efforts, evaluating the organization’s capacity to take on new initiatives aligned with goals. This may mean integrating with your PPM applications, such as Microsoft Project Online, Azure DevOps, Jira Confluence, ServiceNow ITSM/ITBM, etc.
Implementing SPM provides senior management of an organization the ability to quickly and accurately view the alignment of an item in the portfolio with the strategic goals. It also helps determine the corrective action scenarios to be considered when investments are not executing according to plan.
PROJILITY’s SPM practice can help you plan and implement a dynamic, proven SPM process and tool to support your business needs and goals.
For more information, or to setup a demo of PROJILITY’s Hammerhead SPM solution, contact us: