Today's product development organizations must evolve to meet new challenges with agility and adaptability. Planview's Product Portfolio Management maturity journey serves as a guide to help organizations quickly realize this evolution. This guide is detailed into progressive steps with distinct areas of focus, which have been ordered to make an organization’s journey as efficient as possible. The information and tools in the following sections are designed to help you understand and navigate this journey.
What is the Product Portfolio Management Maturity Journey?
The Maturity Goal: Optimize Your Product Pipeline
Organizations must respond to change and uncertainty in ways they never have before. They need to understand how and where to mature in ways that align with trends in product development portfolio methodologies.
Economic headwinds, supply chain constraints, and customer demands are causing significant disruption to product planning and development processes. While your teams will work hard to overcome those challenges, studies show that approximately 75% of new products fail to meet expectations. A successful product portfolio management process empowers R&D and product leaders to prioritize high-value products, align the product portfolio with strategic initiatives, adapt to change quickly, and optimize their product pipeline to achieve target revenue and profitability.
Planview's Product Portfolio Management maturity journey enables a modern approach to your product development processes. Organizations can empower teams to take on more independent planning and execution around the work. This shifts the focus to the portfolio level, ensuring the right teams focus on the right work at the right time, while orchestrating across teams to deliver value.
The reason for an organization to mature is simple: adaptivity and optimization. The best place to start is understanding where you are now on your journey, and the next steps to get you where you want to go.
- Commit to the journey. As with any change, it will take time to see the benefits.
- Update existing processes to accept change as a constant. Becoming adaptive is more than just a mindset: it modernizes how organizations carry out portfolio and work management.
- Understand your product strategy so that leaders are empowered to translate strategy into outcomes that drive business value.
- Emphasize resiliency. Disruptions will inevitably occur, so the ability to adapt quickly is crucial.
- Empower your teams in order to increase process automation and agility. Embrace differences as the new norm, where teams use delivery methods that best fit the work and desired outcome. No more one-size-fits-all!
- Embrace a culture of innovation. The best ideas can come from many places, so leverage innovation culture to get the best solutions.
Mature Your Product Development Processes
Achieve Business Value
To derive the full business value from your capabilities, employ the business processes and best practices aligned to your capabilities while putting in place analytics and reporting to quickly analyze information. This will prevent over-engineering and ensure you're optimizing business value and user experience.
When you’re ready to implement or mature your capabilities to maximize business value, visit the Planview Capability Framework for more information.
Product Portfolio Management Capabilities
Each organization will have a distinct journey and process for how capabilities are implemented and matured. Planview capability maps and journey assessments are used to understand where you are today and what the next steps on your journey will be. Download the Planview Product Portfolio Management Capability Map where you can mark which capabilities you are using now and which you would like to implement next. To help you as you fill out your map, the journey assessment in the next section will ask questions about how your organization is working today.
Customer Journey Assessment
Our customer journey assessment is a tool that will help you map out your journey and understand other areas you'd like to mature. The questions in the assessment point to principal areas for maturity. Once your answers are marked, you'll have a visualization of where you are on your journey. This serves to foster discussion around which areas you want to focus on to move the needle forward.
In addition to the image below, we've created an interactive survey to take the assessment and create a PDF visualization of the questions and answers to help roadmap your journey:
The Right Tool for the Work
When it comes to empowering teams, having the right tool for the work is key. Understanding the benefits of each tool while establishing their use cases – in contrast to only using the traditional work breakdown structure – is crucial to modernizing how your teams are empowered to work. This section compares the basic features of ProjectPlace and AgilePlace in a cross-reference grid, followed by additional resources for diving deeper into each tool.
Connected ProjectPlace in the Planview Capability Framework
- Planview Capability Framework
A full list of Planview's capabilities and how they connect
- Planview PPM Journey Mapping Tool
Use this interactive tool to define your modern project portfolio management journey
- Project Team Delivery
This capability describes the Planview Portfolios and ProjectPlace connector
Demonstrations and Webinars
- Planview Portfolios and Connected ProjectPlace – the Best of Both Worlds
This webinar details best use cases for the Portfolios and ProjectPlace connector
ProjectPlace Enablement Webinars and Training Materials (Free and Recorded)
Product Help in the Customer Success Center
- Planview Portfolios ProjectPlace Connector Help
Product help documentation on the Portfolios and ProjectPlace connector
- ProjectPlace (Standalone)
Product help and technical documentation for ProjectPlace
- ProjectPlace Video Library
Video tutorials on getting started with ProjectPlace, including setup, use, and administration
Get Help Along the Way
If you need additional support, Planview offers several services to help you throughout the process:
We partner with you, get to know your business, and apply our knowledge of best practices to help you achieve your strategic business outcomes.
Our global team is here to help with FastTrack implementation services specifically tailored to target common organizational needs and quickly drive tangible results.
These are specialized hours designed to help address specific customer needs, bridging the gap between Customer Care and on-site Planview Consulting, allowing you to receive quick and cost-effective enablement.
For assistance with the customer journey workshop materials or defining your own customer-specific journey that aligns to Planview capabilities and delivers the business outcomes you need, reach out to your Customer Success Manager. If you don't have a Customer Success Manager, reach out to our Customer Success Specialist teams for Planview Portfolios or Planview AdaptiveWork.
For technical or product support questions, please reach out to the Planview Customer Care team.