Time to choose. Which investments are you going to prioritize?
By Lily Oxenham, Senior Product Marketing Manager on October 20, 2016
Filed under IT Leader
Scarcity is a fundamental principle of economics. Our time, energy and resources are limited. So we’re inherently making tradeoffs each time that we choose to fund one initiative (over another).
And in today’s fast-paced digital era, even the most seasoned business leaders can get overwhelmed by the number of investment opportunities that they can choose from. So how can we be sure that we’re making the right decisions?
Taking a data-driven, portfolio-management approach can boost your confidence, as you will be able to align investment decisions with strategic objectives based on facts and monitor performance objectively to deliver optimal business results.
Turn Scarcity into a Driver for Innovation
While scarcity is often associated with constraints, it can also fuel innovation by forcing us to think outside of the box, find radical solutions and remain focus on producing results. And smart organizations learn that the output from any given unit is not static, as both efficiency and effectiveness come into play—so it’s important to invest wisely and take smart risks.
So why not try using a portfolio-management solution to help you capture and evaluate ideas from anywhere within the organization?
Find out how to adopt a portfolio-management approach and prioritize your investments based on data. Register for this free webinar.
Project Online can help you standardize and structure this process, feeding information into detailed business cases and project charters for management review. And from there, decision makes can easily model different portfolio scenarios to determine the best strategic path, analysing proposal against strategic business drivers while considering the cost and resource constraints.
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