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Planview Customer Success Center

Product Funding

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Product Funding

The Product Funding capability’s enablers include Product Planning, Product Funding, and Financial Targets. Each capability within the Planview Capability Framework has a distinct set of features and functionality, business processes, best practices, and analytics and reports that deliver value to customers in the form of specific business outcomes.

Enablers and Business Outcomes

Product Planning

Supports the creation, planning and approval of the organization’s products. Resulting business outcomes include:

  • We can define, describe, and categorize the products to be delivered by our organization in order to realize our strategic plan.

Budgeting

Supports the setting of time-phased financial budgets for each product, against which planned and current investments can be analyzed and approved. Resulting business outcomes include:

  • We can define product budgets that represent the portfolio’s investment “pot.”
  • We can support investment planning by providing the context of product budgets for analyzing demand and making assessments on our ability to take on new investments.
  • We can adjust product budgets as needed to reflect changes in priorities and desired outcomes.

Financial Targets

Supports the setting of time-phased financial targets (benefits/revenue) for products against which planned and in-flight investments can be analyzed. Resulting business outcomes include:

  • We can define the benefits or revenue targets that the product portfolio must yield. This provides further context for analyzing and prioritizing programs and projects.
  • We can adjust product financial targets as needed to reflect changing priorities and desired outcomes.

Best Practices

Align budgets to outcomes

Align funding to your business outcomes to ensure that the end-to-end delivery of your products can be managed more effectively and flexibly. This encourages greater flexibility and autonomy within your value streams, teams, and teams of teams.

Create guardrails for spending

Once you align your budget with your outcomes, create guardrails that define spending policies, guidelines, capacity, and practices across the portfolio. This ensures that the right investments are made within each budget while giving teams the freedom to weigh new opportunities against long-term strategies.

Reassess budgets often

Reassess your budget regularly to analyze investments across value streams and reallocate funds to new initiatives. Continuously monitoring your portfolio enables you to pivot toward new opportunities or away from unsatisfactory projects with greater flexibility and ease.

Budget collaboratively

Create a better-informed and effective system for distributing investments by involving stakeholders and business owners in the budgeting process. Participatory budgeting encourages leaders to share resources to achieve results within their initiative.

Use scenario planning

Scenario planning helps to forecast the cost and benefits of a given selection of product investments. Create and assess various scenarios of different product mixes to ensure the products you choose to invest in can achieve your organization’s strategic goals. For more information, see Prioritization and Scenario Analysis.

Processes and Reports

conceptual image_product funding.jpg

Product funding supports the creation, planning, and approval of an organization's products, and the ability to set time-phased budgets and financial targets (benefits and revenue) for each product. In-flight and potential investments can be analyzed against the budgets and financial targets to assess the organization's ability to take on new investments. 

Select your product

           

Product Planning Process Steps

           

Product Funding - Product Planning w white box.jpg

Product planning process flow

 

Process Step Description
Create product

Create a record of the new product entity in Portfolios. ​

For more information:
Describe and categorize product  After a new product is created, create configuration-specific description and categorization attributes as determined by the organization's data and information needs.
Create / manage product roadmap

Define the target dates and milestones of the product. This allows the product manager to align the product schedule and the schedule of the associated entities that will deliver the product.​

For more information:

           

           

Product Funding Process Steps

           

Product Funding - Product funding w white box.jpg

Product funding process flow

           

Process Step Description
Create/manage product budget Create the product budget. The financial planning detail screen is used to input financial planning, budgeting, and forecasting data. Additionally, financial data can be rolled up from work and strategy to outcome (product).

           

           

Financial Targets Process Steps

           

Product Funding - Financial Targets w white box.jpg

Financial targets process flow

           

Process Step Description
Create/manage product financial targets (benefits/revenue) Capture the revenue targets and benefits of launching the product, against which actual costs can be compared later. All appropriate data should be populated in the financial planning detail screen for the product. 
Baseline product financial plan

Following the input or roll up of financial planning budgeting and target data, a financial baseline for the financial plan should be taken to compare and track variances on the product financials through time.

           

Related Capabilities

Supported Solutions