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Lean Portfolio Strategy Part 1: Visualizing your Strategy Flow for Transparent Outcomes

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How can you adopt lean portfolio management in a way that's not disruptive to current operations? What are the minimum steps to get maximum value?

Managing your epics correctly, connecting strategy to execution, and reducing overall waste by introducing thresholds and guardrails at your Epic level is a good place to start.

In this first webinar in our four-part series on Lean Portfolio Strategy we’ll join Cprime’s Michiko Quinones and Jesse Pearlman to discuss the fundamental 3 steps and how to:

- Build a strategy “placemat” to visualize current state
- Connect your “placemat” to strategic initiatives
- Establish an optimal synchronization cadence

We'll share best practices, actionable examples, and suggest a well-laid “garden path’ to adopting sound lean portfolio management.

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Lean Portfolio Strategy Part 1: Visualizing your Strategy Flow for Transparent Outcomes

  1. 1. ©2021 Cprime, Inc. All rights reserved and no copying without express written permission. WWW.CPRIME.COM | 877.753.2760
  2. 2. Lean Portfolio Strategy Part 1: Visualizing your Strategy Flow for Transparent Outcomes
  3. 3. HOUSEKEEPING ITEMS Audio is streamed through your computer speakers, so make sure your audio is on and turned up. The recording and slides will be sent to everyone via email within 24-48 hours after the webinar concludes. Submit questions any time during this presentation via the Q&A box on the bottom panel of your screen.
  4. 4. OUR SPEAKERS Michiko Quinones Jira Align Consultant Cprime Jesse Pearlman Delivery Manager, Business Agility Cprime
  5. 5. AGENDA 01 MAKE STRATEGY VISIBLE 02 PAINT YOUR MEASURES IN THE SKY 03 GET CONNECTED 04 GET DISCIPLINED 05 KEEP THE CONVERSATION GOING/Q&A
  6. 6. Go beyond the mic drop – Make your Strategy visible • Have a strategic Visual that describes your mission, vision, values with testable OKRs Paint your measures in the sky - Don’t let Strategy die a 2D Death • Take it out of the powerpoint/intranet picture/excel • Make your OKRs Live and Breath and Speak Get Connected - Ladder it up • Connect mid level strategy connects to the higher level strategies. Do that work ahead of time and show that linkage Get Disciplined - Build Connect to Strategy Muscles • Insist that all grow the business work connects up to strategy WEBINAR KEY POINTS
  7. 7. GO BEYOND THE MIC DROP Make Your Strategy Visible
  8. 8. • Its not enough to have a town hall and ‘drop’ the strategy on your people. • Create some type of visual that shows your strategy in visual format. • Use it over and over, post it everywhere – make it the most visible thing. GO BEYOND THE MIC DROP TO MAKE YOUR STRATEGY VISIBLE
  9. 9. SAMPLE STRATEGIC PLACEMAT – Yellowknife, N.W.T https://www.yellowknife.ca/en/city-government/resources/City_Council_and_Mayor/Councils_Goals__Objectives/Council-Goals- and-Objectives-2019---2022.pdf
  10. 10. SAMPLE STRATEGIC PLACEMAT – Vancouver Internet Exchange https://vanix.ca/about/strategic-plan/
  11. 11. GOOD NEWS – MOST OF YOU ARE DOING THIS
  12. 12. PAINT YOUR MEASURES IN THE SKY Don’t Let Strategy Die a 2D Death
  13. 13. KEY POINTS • We go from the placemat to a powerpoint/excel business case or write it down in a theme. The measure is usually buried within and is never revisited again. • Don’t let the strategy sit in the powerpoints/excels • Those documents have documented objectives and key results that get forgotten and left behind. They die a death in 2d, on paper. • We need to resurrect them back to life by: • Making them visible through an information radiator • Making it part of our process to reviewing the measures consistently • Adjusting your strategy based on outcomes to the measures
  14. 14. YELLOWKNIFE EXAMPLE Yellowknife makes their measures available via word search on their website. • Not posting it would be letting it die a 2d death • Putting it out there resurrects it. • Would be great if this was directly painted on the home page.
  15. 15. GITLAB EXAMPLE https://about.gitlab.com/company/strategy/ GitLab makes their strategy publicly visible directly (painting in the internet sky) on their own platform. They even allow you to contribute, engaging you in the measures. This is available right on their about page. An immediate link to strategy.
  16. 16. At Bloomberg, the lease of terminals is key. So on every monitor in every open space, there is a flashing number that indicates the number of terminals leased. (Painting in the Corporate Sky) BLOOMBERG EXAMPLE https://www.bbntimes.com/technology/bloomberg-terminal-base-drops-in-2016
  17. 17. REVIEW MEASURES CONSISTENTLY • Emphasis – Set up Monthly-Quarterly Regular Portfolio Reviews just to review the Key Results measurements on your information radiator
  18. 18. ABOUT THOSE STRATEGY MEETINGS • Consistently revisit the measures outlined in the strategy or business case. • Don’t be fooled by progress metrics - progress through percent complete data is not the same as meeting the anticipated key results. • Discuss, adjust, and take action based on the measures.
  19. 19. GET CONNECTED Ladder Up
  20. 20. KEY POINTS • In big organizations top layer and mid layer strategies can conflict if they are created in silos. • This leaves delivery confused and they will often bypass or ignore the strategy conflict in order to get things done. • Obviously if this happens, no one is working on your strategy. • So in your information radiator, visibly show how each of Enterprise and Organizational strategies support each other. • Note – if they don’t…fix that.
  21. 21. DISCONNECTED STRATEGY STOP GO
  22. 22. • Delivery teams are going to keep the business running. • If they can’t figure out what the corporate strategy is, they will de facto run their own. • That means the Town Hall Mic Drop was just that and your strategy died on stage. DISCONNECTED STRATEGY LEADS TO DEAD STRATEGY
  23. 23. • Its not enough to have a town hall and ‘drop’ the strategy on your people • Create some type of one pager that shows your strategy in visual format • Use it over and over, post it everywhere – make the most visible thing • Example – at Bloomberg – the sale of terminals is key. So on every monitor in every open space, there is a flashing number that indicates the number of terminals sold. VOLVO EXAMPLE VISUAL Source: https://www.volvogroup.com/content/dam/volvo/volvo-group/markets/global/en-en/investors/reports-and-presentations/annual-reports/annual-and- sustainability-report-2020.pdf.coredownload.pdf
  24. 24. DRIVING PROSPERITY MEANS…
  25. 25. VOLVO MEASURES EXAMPLE
  26. 26. ONE OF THOSE SOLUTIONS
  27. 27. • Corporate L1 Strategy : Drive Prosperity ○ Measure: 100% Safe ○ Measure: 100% Fossil Free ○ Measure: 100% More Productive • Corporate L2 Strategy: Transform ○ Measure: 100 Transport and Infrastructure Solutions by 2025 • Corporate L3: Large Scale Production of Fuel Cells VOLVO LADDERED UP
  28. 28. GET DISCIPLINED Build Connect to Strategy Muscles
  29. 29. OPEN ENDED QUESTION What disciplines does your company do to make sure work is connected to strategy?
  30. 30. • Now that your strategy is visible, connected and measurable – ie ALIVE – make sure work is connected. • This is where leaders have to insist to build muscle memory that all related work make its connection clear. • Insisting means: ○ To not approve work that’s that doesn’t elaborate on its connection to strategy ○ To always ask ‘what strategy is this connected to?’ ○ To enforce that connection in your delivery management tool STRATEGY TO EXECUTION MUSCLES
  31. 31. • One company has specified in their initiative approval process a criteria which says that initiatives cannot move forward without clearly specifying the link the strategy. • One company has included a connection to strategy dropdown with the listing of the strategic priorities, on every work item from epics to stories. • One company has created a BI report that show which initiatives are connected to which strategic priorities, filterable to programs – so that leaders are accountable. STRATEGY TO EXECUTION EXAMPLES:
  32. 32. SOME SUGGESTED PRACTICES TO EVOLVE • Monthly meets just around strategy and the accomplishment of measures. • Build the use of strategic information radiators into your day-to-day processes. • Talk to the measures all the time. • Insist that all work make its connection to strategy visible before approval to go forward. • You want your people to say “I’m not doing this unless I know what strategy it’s connected to” • That’s the Strategy Muscle Memory we want
  33. 33. KEEP THE CONVERSATION GOING… • Connect with our speakers on LinkedIn • Check out Cprime upcoming webinars, read our blog, download whitepapers/case studies & more: www.cprime.com/resources • Share with us what topics you are interested in, ask us questions or give us feedback: learn@cprime.com
  34. 34. FOLLOW US ON SOCIAL MEDIA Share in the conversation & keep updated on thought leadership, events & more! on LinkedIn, Twitter, Facebook, & YouTube
  35. 35. CPRIME SERVICES
  36. 36. QUESTIONS? WWW.CPRIME.COM | 877.753.2760 QUESTIONS?
  37. 37. QUESTIONS? WWW.CPRIME.COM | 877.753.2760 THANK YOU WWW.CPRIME.COM | 877.753.2760

How can you adopt lean portfolio management in a way that's not disruptive to current operations? What are the minimum steps to get maximum value? Managing your epics correctly, connecting strategy to execution, and reducing overall waste by introducing thresholds and guardrails at your Epic level is a good place to start. In this first webinar in our four-part series on Lean Portfolio Strategy we’ll join Cprime’s Michiko Quinones and Jesse Pearlman to discuss the fundamental 3 steps and how to: - Build a strategy “placemat” to visualize current state - Connect your “placemat” to strategic initiatives - Establish an optimal synchronization cadence We'll share best practices, actionable examples, and suggest a well-laid “garden path’ to adopting sound lean portfolio management.

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