Forrester defines the role of SPM for Agile organizations as:
“Technologies that automate the translation of enterprise strategic plans into product and service plans that bring actual business value through the prioritization and delivery of work initiatives. SPM acts as the analysis and communication vehicle for the entire organization.”
According to Forrester’s Now Tech: Strategic Portfolio Management For Agile Organizations, Q3 2019, 30% of global software decision makers cite budgeting and 21% cite misalignment between IT and business as the biggest challenges their firms face when orchestrating their software strategy.1
This misalignment between strategy and execution is causing delays which affect decision making. In companies with effective SPM however, teams can achieve transparency and remove potential roadblocks thanks to them having the ability to give rapid feedback, enabling clear communication between all involved.
The report also uncovers other benefits of SPM that Agile companies tend to value highly2: the centralization of business strategy within the organization, accelerated strategic funding decisions and improved real-time analytics to assess performance of teams.
So what’s the best course of action for those wanting to build Enterprise Agility?
Forrester’s report suggests that evaluation of both long AND short term requirements must first be carried out, taking into account tactical needs as well as the overarching strategic requirements. This means being aware that as you go through this process, your organization is likely to change and evolve, so be sure to anticipate this.
Secondly, it’s important to know that you can never over-plan when it comes to assessing integration requirements for a new solution. Forrester suggests to “start with the minimum and go from there”.
Finally, thinking beyond simple terms of ROI defining the success of a new tool is also important. Companies considering implementing an SPM solution should be clear from the start about what success looks like for them; whether that be usability, or flexibility for the future.
Planisware has been recognized as a Large SPM provider based on revenue in Forrester’s recent report, “Now Tech: Strategic Portfolio Management for Agile Organizations, Q3 2019”.
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1 Source: Forrester Analytics Global Business Technographics® Software Survey, 2018. 2 Strategic portfolio management solutions leverage data from IT management solutions and provide views of products, programs, services, and applications. See the Forrester report “Portfolio Ecosystems Continue To Evolve .”