{"id":1226,"date":"2015-09-17T10:00:29","date_gmt":"2015-09-17T10:00:29","guid":{"rendered":"https:\/\/blog.planview.com\/?p=1226"},"modified":"2022-04-04T14:02:09","modified_gmt":"2022-04-04T19:02:09","slug":"product-portfolio-optimization-part12","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/product-portfolio-optimization-part12\/","title":{"rendered":"12 Signs That It&#8217;s Time to Start Your PPM Journey"},"content":{"rendered":"<p>In my last post I discussed <a title=\"Is Your Product Portfolio Tool Working for or Against You?\" href=\"https:\/\/blog.planview.com\/product-portfolio-optimization-part1\/\">how product organizations are using ineffective tools to manage their product portfolio<\/a> and that it\u2019s likely cutting into their bottom line due to inefficient resource utilization and missed deadlines when bringing products to market.\u00a0Still, how do you know when you\u2019ve reached the tipping point, and when it\u2019s really time to <a href=\"https:\/\/blog.planview.com\/managing-craziness-change-portfolio-management\/\">invest in a true PPM option<\/a>?<\/p>\n<p>In a recent report from Tech-Clarity on <a href=\"https:\/\/www.planview.com\/products-solutions\/solutions\/product-innovation-portfolio-management\/\">product portfolio management<\/a>, analyst Jim Brown identifies twelve signposts that indicate it\u2019s time to begin your PPM journey. In this blog, <strong>I\u2019ll focus in on five of the twelve and provide reasons why they are causing your organization to strain under your current processes and tools<\/strong>.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.planview.com\/product-portfolio-optimization-part12\/#1_Late_Projects_and_Missed_Deadlines\" >1. Late Projects and Missed Deadlines<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.planview.com\/product-portfolio-optimization-part12\/#2_Resource_Shortages_Resource_Conflicts_and_Overloaded_Teams\" >2. Resource Shortages, Resource Conflicts, and Overloaded Teams<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blog.planview.com\/product-portfolio-optimization-part12\/#3_No_Central_Visibility_to_Portfolio_Investments_Across_the_Business\" >3. No Central Visibility to Portfolio Investments Across the Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blog.planview.com\/product-portfolio-optimization-part12\/#4_Process_Exceeding_the_Capabilities_of_Complex_and_Difficult_to_Maintain_Spreadsheets\" >4. Process Exceeding the Capabilities of Complex and Difficult to Maintain Spreadsheets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/blog.planview.com\/product-portfolio-optimization-part12\/#5_Executives_and_Others_Not_Able_to_Articulate_Priorities_andor_Innovation_Strategy\" >5. Executives (and Others) Not Able to Articulate Priorities and\/or Innovation Strategy<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_Late_Projects_and_Missed_Deadlines\"><\/span>1. Late Projects and Missed Deadlines<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nothing kills margin like missed deadlines. With each missed product release the organization suffers from unrecognized potential revenue the product would have brought in from being on the market. This problem compounds for markets where timing is critical to the success or failure of the product, like winter holidays or Valentine\u2019s Day.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"2_Resource_Shortages_Resource_Conflicts_and_Overloaded_Teams\"><\/span>2. Resource Shortages, Resource Conflicts, and Overloaded Teams<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the most difficult problems managers face is the allocation of their people. Consider how often you\u2019ve noticed one resources overburdened while others remain idle? Or perhaps a project gets approved but no one is available to work on it. These problems extend past simply having enough people. Tasking a resource with the wrong skill set can create just as much of a strain on your bottom line in terms of cost per product and time to market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_No_Central_Visibility_to_Portfolio_Investments_Across_the_Business\"><\/span>3. No Central Visibility to Portfolio Investments Across the Business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The first two items on this list are symptoms of the same problem. Lack of visibility across the enterprise and across the product development lifecycle creates nearly insurmountable difficulties. Without a global perspective it is nearly impossible to <a title=\"Analytics and Reporting For Product Development\" href=\"https:\/\/www.planview.com\/products-solutions\/solutions\/product-innovation-portfolio-management\/product-dev-analytics\/\" target=\"_blank\" rel=\"noopener\">quickly and accurately see the metrics that will make your organization successful<\/a>, such as: which products are using too many resources, what product is running over budget, which is behind schedule, what product currently on the market is too costly to support, who\u2019s working on what, and should they be working on that?<\/p>\n<h2><span class=\"ez-toc-section\" id=\"4_Process_Exceeding_the_Capabilities_of_Complex_and_Difficult_to_Maintain_Spreadsheets\"><\/span>4. Process Exceeding the Capabilities of Complex and Difficult to Maintain Spreadsheets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chances are, if you are suffering from the previous point, you\u2019re relying on spreadsheets to manage your commercialization process. Spreadsheets have their place, but not when you\u2019re working across large teams on several products. <a title=\"Climbing Out of Spreadsheet Hell\" href=\"https:\/\/go.planview.com\/climbing-out-of-spreadsheet-hell.html?tactic=blog\" target=\"_blank\" rel=\"noopener\">Spreadsheet obsolescence starts the moment you share them<\/a>, making them almost untenable for complex project and product management. Think about how far you typically get in meetings before you realize you\u2019re not all working from the latest version of a document.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Executives_and_Others_Not_Able_to_Articulate_Priorities_andor_Innovation_Strategy\"><\/span>5. Executives (and Others) Not Able to Articulate Priorities and\/or Innovation Strategy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Failing to have effective vision and execution in the <a title=\"Product Lifecycle Management\" href=\"https:\/\/www.planview.com\/products-solutions\/solutions\/product-innovation-portfolio-management\/product-lifecycle-management\/\" target=\"_blank\" rel=\"noopener\">product development lifecycle<\/a> reverberates across the enterprise. So far, I\u2019ve spent efforts explaining the impact to the execution of projects and products. However, for executives and leadership, the blind spots created by ineffective tools lead to real struggles in road mapping an effective innovation strategy. Without the visible connection between objectives and executed projects, your organization will struggle to compete.<\/p>\n<p><strong>Ultimately, each of the signposts are indicative of a single reality: your organization\u2019s product development department is ready to mature<\/strong>. To do so you need a solution that will allow you to maximize your two greatest product development assets: <strong>money and people<\/strong>.<\/p>\n<p><strong>To read the remaining seven of twelve signposts<\/strong> and tips on what to do, get your free copy of <a title=\"An Action Plan to Improve Your Product Portfolio\" href=\"https:\/\/go.planview.com\/tech-clarity-action-plan.html?tactic=blog\" target=\"_blank\" rel=\"noopener\">Tech-Clarity\u2019s PPM Buyer Guide, An Action Plan to Improve Your Product Portfolio<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In my last post I discussed how product organizations are using ineffective tools to manage their product portfolio and that it\u2019s likely cutting into their bottom line due to inefficient resource utilization and missed deadlines when bringing products to market.\u00a0Still, how do you know when you\u2019ve reached the tipping point, and when it\u2019s really time&#8230;<\/p>\n","protected":false},"author":54,"featured_media":1228,"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":[436,371],"class_list":["post-1226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-development","tag-ebook","tag-tech-clarity"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - 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