Do you have a VSP?

Project based organisations (PBO) visionary leaders must have a Visual Strategic Portfolio (VSP) within their enterprise project portfolios management (EPPMS) system. Visualisation of the SP means visualisation of your ultimate goals. The current or near future goals are business as usual. It doesn’t reflect the main existence of your organisation.
Another reason to have the VSP is that the visionary leaders know they will face many challenges to manoeuvre defining initial targets to make it easy to manage. However, not all PBO have the privilege to have big investment for long term because (the capability/the system) is not justifying or allowing big long-term investment.
Here it comes the importance of giving an annual percentage from the total investment for the vision (the big target). This annual percentage of spending depends on your PBO type.

In the owners/client’s side especially the public sector, the form of the VSP exists (sometimes not visual) more where the services demands are always increasing. However, it is limited for private developer, contractors, consultant and suppliers because their VSP reflects the announced market strategic plans.
In the public sector, the PBO portfolio planning concentrate on two targets. First, to keep the current services working on the same level with limited interruption/shutdown. Second, to keep/improve the overall services up to the challenges to minimise cost and long-term expansion through new ideas and long-term planning. This make the main task for the portfolios’ teams to concentrate on delivering by spending the annual budget and not by how much profit it makes.

The profit measurement here is end user satisfaction and keeping up with the competition challenge (if any). This competition measurement which is limited in most countries for main services can be measured by comparing the different markets projects costs and selling rates with other markets indicators.
If the services provider system has not the VSP and the above two measurements, it means a long-term failure plan.
In the other side, where the PBO is concentrating on measuring their success by their annual plans and profits which unfortunately applied by most companies especially the public listed companies where the shareholders pressure might restrict the long-term planning, or the restriction might be the confidentiality of the future plans. However, this restriction doesn’t mean not to have a VSP to manage. The projects titles and information might be concealed, and an alias can be written instead.
The good strategic portfolio projects planning never freeze or hold their visionary plans. They should be visualised, separated from the impact of the other portfolios delivery, expanded and kept moving by updating the related data which might trigger a green light for it again. Nowadays, there are many ways to fund the strategic goals especially if you have transparent plans to have a show case to get approval from the funders/shareholders.
Concluding, it is really disappointing where we are talking about VSP and some PBO is still even not having a (EPPMS) for their organisation while they are delivering hundred million budget every year by separating portfolios/programs and projects delivery which drive to cost increase and less profit.
With the new technologies, there is no excuse to work in silos. Project portfolio planning and management is the future. Visualise it, plan it and manage it from anywhere. Why fighting the future?
If you would like to evaluate your EPPM system or to develop a new one, please send us an email to info@zalbasireppm.com for further information.

Please visit our free training videos https://zalbasireppm.com/training-videos/ for more information.

Best wishes for all.

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