{"id":4556,"date":"2017-05-16T15:32:29","date_gmt":"2017-05-16T20:32:29","guid":{"rendered":"https:\/\/blog.planview.com\/?p=4556"},"modified":"2022-04-04T13:43:32","modified_gmt":"2022-04-04T18:43:32","slug":"establishing-successful-product-portfolio-governance","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/establishing-successful-product-portfolio-governance\/","title":{"rendered":"Kingspan Insulation Establishes Successful Product Portfolio Governance for Improved Time to Market"},"content":{"rendered":"<p>I speak to different\u00a0product organisations every day and I\u2019ve found they often experience very similar challenges when it comes to establishing product portfolio governance in order to deliver\u00a0products to market, ahead of the competition. That\u2019s why I really like the Kingspan Insulation story \u2013 it\u2019s one that so many products organisations can relate to, learn from, and aspire to resemble. Here&#8217;s a summary of their story&#8230;<\/p>\n<p>As one of Europe\u2019s fastest growing building material manufacturers, Kingspan had experienced rapid growth through expansion and acquisitions. \u00a0These growing pains added up to an out-of-control product portfolio as they struggled to manage new resources and a disparate number of budgets spread across multiple time zones.<\/p>\n<p>For Kingspan, the last straw was spending two years developing a new product that got pulled from the market the week it was released.\u00a0<span style=\"font-size: 13pt;\">If Kingspan wanted to remain competitive, they would need stricter product and portfolio governance. They\u00a0needed a single point of truth to make accurate business decision in order to regain its technological advantage and improve time-to-market.<\/span><\/p>\n<p>If the premise of this story sounds familiar to you, I highly recommend you listen to their recent webcast, <a title=\"Establishing an Innovation Development System for Global Growth\" href=\"https:\/\/go.planview.com\/kingspan-insulation-establishing-an-innovation-development-system-wc-uk.html\" target=\"_blank\" rel=\"noopener noreferrer\"><strong><em>Establishing an Innovation Development System for Global Growth<\/em><\/strong><\/a>, where Joel Clarke, Innovation Development System Coordinator at Kingspan shares how they leveraged <a title=\"Product Innovation\" href=\"https:\/\/www.planview.com\/pd-product-innovation-lifecycle-management\/\" target=\"_blank\" rel=\"noopener noreferrer\">Planview Enterprise<\/a> to power their own in-house Innovation Development System (IDS).<\/p>\n<p>He shares how <a href=\"https:\/\/www.planview.com\/products-solutions\/solutions\/product-innovation-portfolio-management\/\">product portfolio management<\/a> allowed them to become highly focused on NPD efforts and institute a phase\/gate methodology \u2013 all while improving communication and project rationalization.<a href=\"https:\/\/info.planview.com\/kingspan-establishing-innovation-_webinar_pi_en_reg.html\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4559 size-full\" title=\"Establishing an Innovation Development System for Global Growth\" src=\"https:\/\/blog.planview.com\/wp-content\/uploads\/2017\/05\/Kingspan.png\" alt=\"Establishing an Innovation Development System for Global Growth\" width=\"919\" height=\"519\" srcset=\"https:\/\/blog.planview.com\/wp-content\/uploads\/2017\/05\/Kingspan.png 919w, https:\/\/blog.planview.com\/wp-content\/uploads\/2017\/05\/Kingspan-300x169.png 300w, https:\/\/blog.planview.com\/wp-content\/uploads\/2017\/05\/Kingspan-768x434.png 768w, https:\/\/blog.planview.com\/wp-content\/uploads\/2017\/05\/Kingspan-750x424.png 750w\" sizes=\"auto, (max-width: 919px) 100vw, 919px\" \/><\/a><\/p>\n<p>With better visibility into the health of their portfolio of products, the company acted on issues allowing them to kill projects, identify resource constrains, and more.<\/p>\n<p>One of the most interesting facts is related to ROI. Within four weeks, Planview Enterprise had paid for itself with the cost savings from the canceled projects. That\u2019s extraordinary! And two years later, Kingspan is still seeing the benefits.<\/p>\n<p>Here are several of the benefits outlined in the webcast:<\/p>\n<ul>\n<li>Resources are comfortable escalating risk and issues as everything is directly accessible by project teams \u2013 so there are no more surprises<\/li>\n<li>Risks can then be more closely monitored by senior management and stakeholders trust the data<\/li>\n<li>Under-performing\/high-risk projects can now be canceled early, saving time and resources<\/li>\n<li>Resource bottlenecks are easily spotted and decisions made to keep progress moving<\/li>\n<\/ul>\n<p><a title=\"Establishing an Innovation Development System for Global Growth\" href=\"https:\/\/info.planview.com\/kingspan-establishing-innovation-_webinar_pi_en_reg.html\" target=\"_blank\" rel=\"noopener noreferrer\">Watch the webcast for the full story and benefits<\/a>.<\/p>\n<p>Today, senior management has both visibility and a single version of the truth through the system\u2019s dashboards. It\u2019s much easier to ensure new products match Kingspan\u2019s strategic goals using a phase\/gate methodology. And, by integrating R&amp;D production and NPD, Kingspan can see the full product lifecycle \u2013 from a product being developed in a lab all the way through to its installation in a new building. That&#8217;s fantastic!<\/p>\n<p>A big congratulations to Kingspan for maturing their NPD processes and portfolio governance! I think this is a story product organsaitons need to listen to. Get inspired and <a title=\"Establishing an Innovation Development System for Global Growth\" href=\"https:\/\/info.planview.com\/kingspan-establishing-innovation-_webinar_pi_en_reg.html\" target=\"_blank\" rel=\"noopener noreferrer\">discover how Kingspan addressed their challenges to create an NPD processes that enable innovation and growth<\/a>.<\/p>\n<p>I\u2019d like to hear from you. How are you currently managing your NPD processes and what are you doing to mature them to remain competitive? Share by leaving a comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I speak to different\u00a0product organisations every day and I\u2019ve found they often experience very similar challenges when it comes to establishing product portfolio governance in order to deliver\u00a0products to market, ahead of the competition. That\u2019s why I really like the Kingspan Insulation story \u2013 it\u2019s one that so many products organisations can relate to, learn&#8230;<\/p>\n","protected":false},"author":76,"featured_media":4558,"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":[492,36],"tags":[],"class_list":["post-4556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customer-success","category-product-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Establishing Product Portfolio Governance - Blog | Planview<\/title>\n<meta name=\"description\" content=\"Product companies experience very similar challenges when it comes to product portfolio governance. 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