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Why is strategic alignment important?

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An overview of why strategic alignment is so important and of how a proper, AHP-based project prioritization process helps deliver strategic alignment which, in turn, leads to improved project success rates.

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Why is strategic alignment important?

  1. 1. Alignment, project prioritization and project success rates An overview of why strategic alignment is so important and of how a proper, AHP-based project prioritization process helps deliver strategic alignment which, in turn, leads to improved project success rates.
  2. 2. This webinar will cover:  What you don’t know will kill you  Why strategic alignment is so important  The business case  There IS a right way (AHP)  Demo of TransparentChoice Products
  3. 3. What you don’t know will kill you. Most PMOs focus primarily on executing projects… and that will kill you eventually! Portfolio planning is, quite possibly, more important.
  4. 4. % Alignment really matters! Strategically aligned projects are: - 57% more likely to achieve business goals - 50% more likely to finish on time - 45% more likely to finish on budget Source: PMI –Pulse of the Profession – In- depth Report: The Strategic Impact of Projects
  5. 5. Some good resources • Blog setting out the 57% number and linking to prioritization. • Infographic setting out the 57%, 50% and 45% numbers and linking TCH. • Blog showing difference btw highest and lowest performers and linking to alignment – includes infographic • Blog setting out that AHP- based prioritization is THE way to do it. https://blog.transparentchoice.com/how-ahp- and-project-prioritization-helps-pmos-achieve- more-project-success-rates https://cdn2.hubspot.net/hubfs/301083/Dowlo adable_Documents/3%20Reasons%20to%20Im prove%20Strategic%20Alignment.png https://blog.transparentchoice.com /rate-your-pmo https://blog.transparentchoice.com/th ere-can-be-only-one
  6. 6. • Eliminate waste • Make the important projects successful • Stronger exec sponsorship • Save time
  7. 7. “I already got one” https://youtu.be/1B_f9HXDjWY
  8. 8. 7 signs you need to improve your project prioritization process
  9. 9. AHP is academically shown to be “The One” for project prioritization100+ methodologies reviewed Only 2 are “suitable” – AHP is easier to use TransparentChoice uses AHP SO – best practice = AHP, end of debate
  10. 10. Why AHP?• “My process works!” • Too many projects? • Politics? • Failing projects? • Resource allocation problems? • Why it doesn’t work • Human bias (cognitive biases or decision bias) • Group dynamics • Decision science • Evaluated over 100 methods • Over 40 years of AHP research • AHP validated again and again Blog: research says AHP is the way to go! https://blog.transparentchoice.com/th ere-can-be-only-one Blog: “There is a RIGHT WAY” https://blog.transparentchoice.com/how-many-pmos- does-it-take-to-reinvent-the-wheel Blog: “Beware of ‘fake methods’” https://blog.transparentchoice.com/a void-fake-project-prioritization- methods
  11. 11. So…. ?• What does “value” mean? • What does “strategic alignment” mean? • These are the FOUNDATION for project selection • Without a solid foundation, everything else is flawed
  12. 12. Case study: EnerginetDanish power-grid - 5m customers - $1.6bn revenue - €20m p’folio Challenges - All projects “top priority” - High failure rate - 30% obsolete - Difficulty allocating resources day-to-day - Political process Results - Eliminate 30% obsolete - Every project aligned - Less time, less politics - Clear priorities, allocation of resources Est. € 6m saving https://cdn2.hubspot.net/hubfs/301083/Dowloadable_Documents/Partner %20Training%20Resources%20and%20Marketing%20Collateral/Collateral%2 0/Project%20Prioritization/Energinet%20infograph.png
  13. 13. Three steps of prioritization AGREE on goals and drivers Capture and evaluate project requests Decide… Capture and evaluate project requests “Demand management” Agree on goals and drivers: “Definition of value” Pick a portfolio with a punch!
  14. 14. Let’s go and look at some software…!
  15. 15. Thank you! Why not set up a call to explore your own, personal “return on investment”? www.transparentchoice.com

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