Many organisations have invested tens of thousands of dollars in developing visions and strategies. This investment is squandered when organisations are unable to then execute their intended strategies. Very often leadership teams display a strong understanding of where they want to take their organisations but are often unable to establish a process on how to identify and prioritise the best project and programme investment decisions.
While the development of the vision and the strategy is clearly a ‘top-down’ exercise, organisations generally allow a culture of ‘bottom-up’ project and programme selection. This then creates what we call ‘the strategy gap’, where it’s difficult to understand what strategic contribution a project and a programme is making. This creates a sense that projects and programmes are driven by more tactical imperatives rather than selecting and identifying projects and programmes which support the strategy and vision more explicitly.
This ‘bottom-up’ approach can have many negative side-effects. Potentially staff can feel demotivated as there is no apparent link between their efforts and the achievement of organisational outcomes. This can also lead to frustration at the executive and board levels as constrained resources are squandered and diffused with little real strategic progress achieved.
At Nonsuch Consulting we offer a portfolio management solution that ensures that the realisation of your strategy is at the heart of the identification, qualification, prioritisation and selection of your entire collection of projects and programmes. This approach and technique is a vital tool available to all leadership teams to provide assurance that well-crafted, well developed visions and strategies are executed successfully.