Many companies end up having an inflated project portfolio because they don’t treat projects as financial investments and they execute inadequate project approval processes. Many of the projects in the portfolio, consequently, end up lingering in ‘open’ or ‘green’ status for extended periods of time and end up draining valuable resources. It’s critical for companies to get a handle on all of the projects within their portfolios.
In analyzing these inflated project portfolios, most of the projects have little or no linkages to the strategic intent or the corporate objectives of the firm. Additionally, the status for these projects is usually reported as ‘in-progress’ or ‘on target,’ even though the project completion dates have been pushed back several times. When companies take the time to capture a snapshot of all of their projects, they are usually quite surprised with what they find:
- Project redundancies
- Misalignment with strategic objectives
- Incomplete business cases
- Little of no business value
- Incomplete project charters
- No management support
- Missed completion dates
- Little or no activity
- No tracking or reporting of value metrics
KIM Consulting Group provides expertise and knowledge to quickly identify process and change improvements and to develop relationships with the appropriate business units to ensure the change initiatives are supported and lasting.