Traditionally, when we consider strategic portfolio management, we think about a collection of projects. Each project is seen as a separate entity, often represented as an abstract concept in the portfolio. However, this viewpoint may be limiting our potential to drive effective change and organizational growth. Instead, we should reconsider how we think about projects.
Rather than focusing on projects as isolated units, we should concentrate on the real drivers of progress: teams. Each project is, in fact, a coalition of individuals pulled from various areas of an organization, brought together to work towards a common purpose.
Shifting Focus: From Projects to Teams
To truly understand the essence of a project, we must shift our perspective and consider what’s at its heart: the team. Each project team is a dynamic, collaborative force. It’s made up of unique individuals, each contributing their unique skills, knowledge, and creativity to achieve the project’s objectives.
Viewing strategic portfolio management through this lens allows us to better understand the complex interplay of talents, abilities, and teamwork required to bring a project to life. It’s a reminder that behind every project timeline, every deliverable, every milestone, there is a team of people making it happen.
Project Decisions: To Add or Not to Add Another Team
With this team-focused approach, decision-making in strategic portfolio management also takes on a new perspective. When contemplating whether to take on a new project, the question isn’t simply whether we have the capacity to add another project to the portfolio. Instead, we ask: do we have the resources and capabilities to form another high-performing team?
This approach ensures we’re taking into account the human resources and team dynamics that are crucial for project success. It puts people – our most important asset – at the center of strategic decisions.
Why This Perspective Matters
This shift in perspective is not merely semantics. It has profound implications for how we manage and lead within our organizations.
Firstly, it brings the focus to the people who drive projects forward, highlighting the importance of team dynamics, collaboration, and individual skills. This can lead to better project outcomes, as teams feel more recognized and valued.
Secondly, it encourages us to think about capacity in terms of teams rather than abstract projects. This can lead to more effective resource allocation, as we ensure that each team has the resources they need to be successful.
Finally, this perspective encourages us to build and foster a culture that values teamwork, collaboration, and people, creating an environment where teams can thrive.
Conclusion
In conclusion, to maximize our potential in strategic portfolio management, we need to stop thinking solely about projects and start focusing on teams. It’s the teams – the people – that bring projects to life. By centering them in our strategies and decisions, we can drive more effective change and foster a culture that truly values its people.