Use Zero-Based Prioritization to Refocus Portfolios on Strategic Business Initiatives
As a result of the COVID-19 crisis, many organizations will see their budgets reduced. Meanwhile, new initiatives will increase and postponed portfolio investments will continue to accumulate. This situation makes it seem difficult to accept new initiatives or requests. Many budgets are linked to existing initiatives that the organization authorized in the past which are still underway. The situation may be even more complicated if companies are facing major changes in strategic direction as a result of reduced revenues, difficulties with the supply chain, and loss of work capacity as a result of the pandemic.
Executives responsible for planning, budgeting, and controlling costs must do a thorough analysis of their current initiatives in their portfolios. One technique for addressing this is by implementing a “zero-based prioritization” approach for analyzing your portfolio. Essentially this approach begins by putting all initiatives on hold and conceptually reducing costs to zero.
Gartner recently published an analyst report on “Use Zero-based prioritization to Refocus Portfolios on Strategic Business Initiatives”. We believe this report provides insight into the technique and recommendations for implementing it for your organization. Complete the form here to download a copy of this valuable report.
Gartner, Use Zero-Based Prioritization to Refocus Portfolios on Strategic Business Initiatives, Mbula Schoen, Lee Weldon, 3 April 2020.
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Triskell is a true Enterprise solution focused on Strategy Execution Management with advanced Project Portfolio Management features, helping to fill the gap between planning and proper execution. Triskell allows companies to plan, prioritize, manage and monitor their organization's initiatives. It includes tools for demand management, capacity management, project portfolio management, application portfolio management, resource management, financial management, waterfall and agile project management, and IT service portfolio management.