Lean Portfolio Management (LPM) is a strategic approach that helps organisations align their projects with their overall business goals. Incorporating Lean Principles into Portfolio Management Strategy . By implementing LPM, businesses can ensure that their project portfolio is in line with their strategic objectives, allowing for more efficient use of resources and increased likelihood of success.
One of the key benefits of LPM is its ability to provide a clear framework for decision-making when it comes to project selection and prioritisation. By clearly defining the goals and objectives of the organisation, LPM can help project managers and stakeholders identify which projects are most likely to contribute to these goals, and which should be prioritised.
Another important aspect of LPM is its focus on continuous improvement and learning. By regularly reviewing and evaluating the performance of projects within the portfolio, organisations can identify areas for improvement and make adjustments as necessary. This iterative approach helps to ensure that projects remain aligned with the business goals and adapt to changing market conditions.
Ultimately, LPM is about ensuring that organisations are able to deliver value to their customers and stakeholders. By aligning projects with business goals, organisations can maximise the impact of their investments and drive sustainable growth. In an increasingly competitive business environment, LPM can provide a crucial competitive advantage by helping organisations to focus on what really matters and deliver results that truly make a difference.