Talk to an Expert

In this section, we’ve outlined everything you need to know about getting a prescription:

• Things to ask a Portfolio Management expert
• How to find a Portfolio Management expert
• How to get a FREE consultation to discuss ID and Portfolio Management

And remember, you’re not the first one to talk to an expert about Portfolio Management so don't be embarrassed.  Almost all organizations are afflicted with some form of ID.

 Expert Discussion Guide

To find out if Portfolio Management is right for your organization, answer a few questions below.  Then discuss these responses when you meet with an Expert.  It is a great way to start the conversation and will help the Expert assess your situation.  (note:  These will also help you gauge the Expert)

• What area would you like to apply Portfolio Management to, e.g. total organization, specific business segment or functional area?
• How do you define what is a discretionary investment or project?
• What are your strengths and development areas as it relates to resource allocation?
• Does your organization understand the relationship between resource allocation and strategy?
• What progress, if any, have you made on enabling Portfolio Management?
• How much do you expect Portfolio Management will benefit your organization?
• Have you attempted to determine the value or ROI of a Portfolio Management effort?  If yes, what did you arrive at?

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 Finding an ID Expert

There are many individuals out there who claim to be Portfolio Management experts but most are not familiar with ID and how to solve it.  When finding a Portfolio Management expert, please ensure the following:

• They have built a portfolio management discipline within in an organization, e.g., they have been a practitioner.  Most consultants don’t have to live with the decisions they suggest and so while pretty stylized PowerPoint presentations, theoretical frameworks and silver bullet solutions sound interesting, they don’t work.  Make sure you work with someone who has built the effort and lived with it and seen real results. 
• Anyone who only talks about the process and strategy and not the cultural & behavioral elements associated with ID and Portfolio Management is naive.  Enabling changes to how an organization allocates it resources and managing investments as a portfolio requires education and attention to behavior and culture.  A lack of awareness about this indicates you’re not talking to an expert at all.
• If a purported expert suggests that you need a software solution to enable Portfolio Management, you are not talking to an expert.  A software solution maybe helpful at some point, but initially, the focus should be on the process and behavioral elements.  Once those are in place successfully, a software solution may help make the process more efficient.

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 Get a FREE Consultation

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