To distribute funds to achieve maximum value, it is helpful to define alternate investment and funding scenarios based on certain attributes, financial targets, and other information.
Prior to the execution of any ranking and prioritization of investments, the investment owner of the portfolio should validate the strategic objectives to be met by the collected investments. In Planview Enterprise, this can also be supported via a Strategic portfolio of missions, objectives, strategies, and the programs and other investments that support the strategies.
The objectives should reflect a clear, consistent method for assessing business value. These should be supported by an overall strategic business case, created by the executive body and validated by the investment owner. This is separate from the business case for individual investments. This is the first step to creating effective financial targets and generating a value-delivering scenario. As Yogi Berra said, "If you don't know where you're going, you might wind up someplace else."
To read the full best practice beyond this abstract, you must be a PRISMS subscriber. See your Planview administrator for details.