“Lean” organizations are so common today. Doing more with less is such a popular slogan. While the Portfolio of projects, initiatives and tasks is “super-sized”, the staff to complete all of this work is not big enough to get it all done. If resource demand is much higher than capacity, some things just aren’t going to get done, projects will fail, mistakes will be made and people are going to be very unhappy. This is a sure way to lose the best people.
Your organization will always have tons of ideas for improving business, improving processes or buying the latest technology. But you can’t do it all! However, you can stick to a very solid corporate strategy and prioritize what gets done based on the strategy.
Right-sizing the Portfolio of Projects and Initiatives:
1. Develop a clear, solid Strategy based on your organization’s core competency.
2. Communicate the strategy so that everyone knows how to translate the strategy into what gets done.
3. Develop a method to determine value of projects and initiatives (relate to strategy and other benefits to be realized).
4. Prioritize the portfolio of projects and match resource capacity and demand.
While your organization certainly is made up of superstars, they aren’t super human. There really are only 24 hours in a day and you really do have finite resources.