Do The Right Things

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Do The Right Things
San Retna   (May 16, 2005)





At a major AAA affiliate, the PMO plays a critical role in enterprise portfolio management efforts, providing the means to assess and rank potential initiatives while continuously engaging executives, business unit managers and project teams to share information in order to better align corporate strategy with investments.

This is the second article in an ongoing series on how enterprise portfolio management can be used to deliver significant business benefit. The first article, "Loop Dreams" (February 24, 2005), provided an overview of a closed-loop approach for selecting and executing projects. This article discusses the importance of aligning corporate investment with corporate strategy, and how the PMO can move beyond striving only to "do things right," but also to ensure that the company is "doing the right things."
 
The task of translating corporate strategy into tangible activities can be difficult — so difficult that a majority of even the world's best companies have significant opportunities to enhance their processes for execution. While most organizations have a clear grasp of their corporate goals and objectives, as well as clearly-defined business processes for managing projects, programs and other internal activities that are currently underway, the link between strategy and investment is often weak.



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