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Product Portfolio Management

Three Signs Your Organization is Ready to Implement Product Portfolio Management

Published By Carrie Nauyalis

Your product pipeline might be perfectly streamlined and efficient. But if you’re like many organizations, your portfolio may have some issues that are costing your organization in terms of revenue, product failures, and eventually reputation. Is your organization ready for PPM?

Maybe you’ve wanted to implement a Product Portfolio Management Solution but haven’t defined or designed your processes yet. Did you know that it’s actually recommended that you go ahead and get started with a PPM solution so you can grow your processes as you go along? Here are some sure-fire ways to gauge whether it’s time you invest in a software solution to improve your chances for success.

  1. Failed Market Launches
    Has your organization launched unsuccessful products that have blemished your brand or product line? Have you missed critical time-to-market deadlines that have cost real money? Product Portfolio Management allows you to analyze your portfolio before you make the decision on what will be on your roadmap. It enables you to evaluate every piece of your portfolio so you have a complete picture — the impact on your brand, competition, resources, sustainability, and bottom line. What has a failed product launch cost you? Chances are, a lot more than what it would cost to implement a solution.
  2. Limited Resources
    You’ve repeatedly heard and our recent Benchmark Surveys have confirmed that the #1 pain point around Product Portfolio Management is too much work for available resources. You may have people presenting great ideas, but you only have a limited capacity when it comes to people. If you say ‘yes’ to every good idea, you spread your resources too thin and few of those good ideas actually make it to the market on time. Product Portfolio Management gives you tools to run ‘what-if’ scenarios before you execute. It allows you to perform comprehensive portfolio analysis to understand your current capacity, usually based on role or skill, and then evaluate all of the things in your pipeline to go on the roadmap to ensure they can actually get done on-time with the available resources. When you use your resource capacity as a filtering mechanism, you have a much higher chance of success.
  3. Market and Product Conditions
    Look at the size of your product catalog and the number of markets you serve. If you have a large number of products, multiple projects that deliver a product, a large number of metrics to analyze the performance of each product, multiple markets or global markets, or if your roadmap is frequently changing, you’re ready to centralize and automate your product portfolio to maximize visibility and reduce risk. Are you still updating your roadmap manually through PowerPoint? That’s a not just a sign, but a neon flashing sign telling you it’s time to convert to a formal solution.

Take a look at your current product portfolio and see if any of the 3 signs above are present. If so, you just might be ready to call in reinforcements!

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Written by Carrie Nauyalis Contractor - Product Development

Carrie Nauyalis brings her passion, experience, and thought leadership in the product portfolio management industry to her current role as Executive in Residence at Planview. As an EIR, Carrie is collaborating on market research and sharing best practices with Planview prospects and customers. She is an active speaker, MBA guest lecturer, blogger, and vlogger on all things PPM, with warm places in her heart for innovation, calculating ROI, and agile. Carrie spent 19 years with Planview in various positions, including global consulting, product management, and as the solution evangelist for innovation and new product development. Prior to Planview, Carrie held multiple systems engineering positions with Emerson Process. She earned her Bachelor’s degree from Truman State.