How do you use agile in project portfolio management?

Agile is more than just a buzzword; one size does not fit all. Review your projects and apply appropriate methodologies and strategies as a portfolio manager. Most organizations may pressure portfolio managers to adopt agile techniques in a well-meaning way of achieving cost savings and faster time to market. As a portfolio manager, your primary objective is to ensure timely delivery, and agile methodology requires organizational changes, which will affect culture and mindsets. Pick agile principles and practices that align with the organization's culture and can be quickly adopted to drive maturity and change. Level up the organization at a pace where project delivery is not impacted.

💡 To truly grasp agile PPM, you need to understand its underlying principles and frameworks. 🔄 Continuous Prioritization Agile PPM adapts priorities to market shifts, feedback, and strategy, avoiding static project rankings. 🎯 Outcome-Oriented Metrics Traditional PPM focuses on project outputs, while Agile PPM emphasizes outcomes aligned with organizational goals. 🤝 Collaboration & Transparency Stakeholder engagement is crucial in Agile PPM, emphasizing open dialogue for real-time decision-making with shared insights. 👨💻 Decentralized Decision-making Empowering teams boosts agility by reducing top-down directives and increasing team autonomy in projects.

I applied Agile by breaking down larger initiatives into smaller, manageable projects. I prioritized projects based on value delivery and adjusted priorities iteratively. Regular reviews ensured alignment with business objectives. Agile ceremonies, like sprint planning and retrospectives, enhanced transparency and collaboration. I facilitated communication between teams and stakeholders to adapt to changing requirements. Continuous feedback loops allowed for quick adjustments and optimization of the portfolio. Agile principles guided decision-making, fostering a culture of flexibility and responsiveness. By embracing Agile methodologies, I maximized the efficiency and effectiveness of project portfolio management processes.

Agile is a mindset that should definitely be considered in portfolio management. The application varies based on the business and project types. For instance, IT Companies might use SAFe or other Agile Framework/Methodology for IT projects, while other industries like Industrial or Mining may split portfolios into IT Portfolio using (SAFe or other Agile Framework/Methodology) and Industrial Portfolio using (Waterfall methodologies). However, non-IT companies often end up managing the portfolio in a unique way, often considering IT and non-IT projects in the same way.

Voice of customer/organisation, delivering strategic outcomes, funding and resources are critical for any organisation. Using agile portfolio helps to achieve these outcomes. We should be clear about the priorities within organisation and its strategic outcomes to help prioritise use any of the levers like funding or resources. Using agile in PPM also helps to remove silos and the barriers to bring leadership and rest of the organisation together to read from the same page.

You can start by following these 2 tips: 1. Involve your customer in the development of a roadmap with a collaborative approach. You know your product and/or service, so, if the customer requires to implement a digital solution, for example, in a machine, help them to create a roadmap where both describes the sequence of steps and activities to achieve the objectives of what they are looking for. 2. Execute servant leadership. Agile approaches such as Scrum emphasize servant leadership. It focuses on understanding your team and addresses the needs and development. When a multidisciplinary team brings value frequently and reflects on product and process, the team is agile.

It’s important to include the customer in the iterative process. Through design and build. That said, using agile allows you to deliver priority features faster for customers to review and provide feedback. Adjustments can be made from that feedback to ensure a product is created that customers will love.

Agile is a powerful tool for the portfolio project management. Here are some points which could be applicable in general, while managing the project priority. 1) At the start of the year establish few strategic objectives for the year. Ex . Business continuity, Support for launch of a Product, Reduction of quality issues etc 2) Rate these objectives relatively. Ex Business continuity (10), Regulatory impacts (10), Quality (8) etc 3) Establish a Change Control Board. 4) Maintain a live project backlog sheet and list all the projects. 5) During project CCB meeting rate the project based on, a) Objective impacted. b) collective rating by all stakeholders of the portfolio. 5) Keep this backlog sheet Live and follow for the year.

Biggest challenge is to understand priorities and everything getting high priority. This makes assigning resources to the "right" initiative in a "right " way to achieve a "right " outcome at the "right" time. Another challenge is silos that create communication and collaboration barriers resulting in friction leading to loss of momentum and resource wastage. Organisation wide review of progress towards outcomes is challenged by siloed approach and takes away the capability to allocating resources to the "right " initiatives.

Overcoming challenges in agile PPM requires creating a bridge between agile teams and traditional corporate structures. Use the concept of 'Agile Champions' or 'Agile Coaches' who can translate agile successes into language that resonates with senior management and stakeholders. This role is crucial for bridging the gap between agile teams and those more accustomed to traditional project management methodologies.