Optimize Product Portfolio Investments with Business Strategy
Strategic Portfolio Planning is the business process by which organizations determine the set of innovation and new product development (NPD) investments they will fund—and those they won’t—to achieve their business objectives.
Portfolio Optimization helps you strategically manage your product portfolio to make the right investment decisions, optimize the value of your portfolio, and allocate the most profitable use of resources.
Typical challenges companies express related to Strategic Portfolio Planning and Project Portfolio Optimization:
- “Our portfolios and resources are not aligned with objectives and strategies.”
- “We lack transparency or don’t have access to good, accurate data.”
- “Our resources are maxed out due to time wasted on too many low-value projects.”
- “It is difficult to adjust our portfolios to quickly respond to market changes.”
Based on extensive experience with many of the world’s leading brands, we advocate a four-stage process to overcome these challenges and develop mature processes in a company for Strategic Portfolio Planning and Project Portfolio Optimization to achieve exceptional results from innovation and NPD initiatives.
The Four Stage Innovation Maturity Process model depicted above consists of:
This way you can address any issue in the portfolio before it creates significant trouble for the organization. You will have complete visibility for portfolio reviews of timelines, costs, rewards, revenue trends over time, and portfolio value.
As leaders push the business toward more innovative products, it is important to ensure that the mix of investments is appropriately weighted toward high-value projects, with reasonable and known risk levels.
You should rather consider a strategic portfolio planning approach to innovation planning, which represents a different way of thinking about both the planning process and the portfolio management process.
You should start with determining what the company’s strategies are, and then planning how to implement these strategies through effective strategic portfolio prioritization.
You can accomplish this by using product and project portfolio optimization to determine the best combination of innovation and NPD initiatives and projects to meet your market and business goals.
Using an integrated strategic portfolio planning solution enables you to improve the speed and impact of decision-making across the entire enterprise innovation portfolio.
Strategic Portfolio Planning and Project Portfolio Optimization solution capabilities enable you to identify optimal investment scenarios, ensuring fewer, bigger and better projects in your portfolio, and to align short- and long-term innovation and new product development activities with strategic priorities and financial targets.
What Customers Say
"Our goal in R&D is to transfer market trends and ideas quickly out of science and into innovation. We use new technologies in order to develop additional market chances. Accolade supports us to manage our innovation projects in a focused and efficient manner. Simultaneously it offers an outstanding database for setting the correct priority of the projects within our innovation portfolio."