{"id":1166,"date":"2015-09-02T07:00:14","date_gmt":"2015-09-02T07:00:14","guid":{"rendered":"https:\/\/blog.planview.com\/?p=1166"},"modified":"2022-04-04T13:59:51","modified_gmt":"2022-04-04T18:59:51","slug":"product-portfolio-optimization-part1","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/product-portfolio-optimization-part1\/","title":{"rendered":"Is Your Product Portfolio Tool Working for or Against You?"},"content":{"rendered":"

Whether you know it or not, your company already uses a product portfolio tool<\/a>. This tool might be as simple as a collection of spreadsheets, or possibly something more robust. Regardless, if you\u2019re using a method for recording ideas, prioritizing projects, and managing resources – you\u2019re already leveraging a tool(s) to manage the product development lifecycle.<\/p>\n

But to what extent does the toolset you currently have in place aid in speeding time to market? If you\u2019re using spreadsheets, I\u2019d guess that it\u2019s not much.<\/em><\/strong><\/p>\n

Those spreadsheets might seem sufficient, but how much visibility can they really provide? Can you track resource availability efficiently? Can you easily measure project cycle times? Can you see which of your innovations is eating up more costs than it stands to make back once it goes to market? If not, what\u2019s the impact? How much money is your department leaving on the table in terms of executing the wrong products with the wrong people resulting in missing the market window by leveraging the wrong tools?<\/p>\n

The question isn\u2019t \u201cShould I get a product portfolio management<\/a> solution,\u201d but \u201cWhat is my current solution costing me?\u201d<\/p>\n

In a recent report from Tech-Clarity on Product Portfolio Management (PPM), Jim Brown notes that \u201cMost manufacturers are inefficient and have trouble making informed decision because they use spreadsheets and other office productivity tools that don\u2019t stand up to enterprise class processes.\u201d<\/strong><\/p>\n

Sound familiar?<\/p>\n

A true, purpose-built enterprise-class PPM solution<\/a> provides an organization with the necessary visibility to fill their pipeline with the right ideas, select the right products, apply the right resources, and bring the best products to market on-time and on-budget. Only with global visibility can you effectively monitor the product development process.<\/p>\n

The good news is that you\u2019re not alone. Very few organizations have optimized their innovation and portfolio strategy and processes to the point of maturity, and less have implemented a comprehensive solution that tracks products from ideation to end-of-life. For those willing to coalesce their operation around a true solution (one that works for you not against you), there is significant possibility for competitive advantage and return.<\/p>\n

In my next post, I\u2019ll discuss some of the biggest signposts highlighted in the Jim\u2019s eBook that it\u2019s time to consider PPM to boost revenue and productivity and lower cost and risk during the commercialization<\/a> process.<\/p>\n

Interested in learning more about the potential of a true PPM solution? Enjoy a free download of Tech-Clarity\u2019s PPM Buyer Guide An Action Plan to Improve Your Product Portfolio<\/em><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you know it or not, your company already uses a product portfolio tool. This tool might be as simple as a collection of spreadsheets, or possibly something more robust. Regardless, if you\u2019re using a method for recording ideas, prioritizing projects, and managing resources – you\u2019re already leveraging a tool(s) to manage the product development…<\/p>\n","protected":false},"author":54,"featured_media":1167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":2,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[36],"tags":[371],"class_list":["post-1166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-development","tag-tech-clarity"],"acf":[],"yoast_head":"\nIs Your Product Portfolio Tool Working for or Against You?<\/title>\n<meta name=\"description\" content=\"Whether you know it or not, your company already uses a product portfolio tool. 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