Developing and maintaining a balanced product portfolio that is aligned to the company strategy is key to the survival of product-based companies. Products are the source of revenue and therefore excellence in Product Portfolio Management is directly related to the value creation potential of the company.
Ten Six has helped companies implement effective and efficient Product Portfolio Management, who were able to achieve the following benefits:
Product Portfolio Management
- Maximize investments performance – Align product development and commercial investments with organizational priorities and goals.
- Maximize value of portfolio – Identify product winners and losers as early as possible.
- Gain competitive advantage – Shorten product cycle time by streamlining and improving portfolio decision making.
- Increase agility – Accelerate or suspend initiatives to respond to change.
Manage the product portfolio across the full life-cycle
- Relevant, consistent information about all products and initiatives is available from a single source.
- Focus on highest value initiatives and projects.
- Identify losing product candidates early enough to know when to kill products.
- Prioritization based on different value measures can help separate “clear” winners and losers from those products requiring further review.
Complete product information at the right level
- Manage costs, benefits, resources.
- Control the schedule for each product and initiative.
Improve quality of decision making
- Evaluate milestone plans graphically to quickly measure impact and take corrective actions.
- Understand technology and products interrelationships.
- Assess the impact of accelerating or delaying products.
Measure product portfolio performance and alignment with business goals
- Market newness vs Project category.
- Project category vs Life-cycle stage.
- Ease vs Attractiveness.
- Strength vs Attractiveness.
Rapidly re-allocate key resources across competing product development projects
- Analyze project or initiative demands for resources against the availability of these resources.
- Model different scenarios and adjust workload accordingly to ensure that the work can be done.
Ten Six can help you successfully implement a robust enterprise Product Portfolio Management solution together with effective governance. Call Ten Six today to learn more about our Product Portfolio Management services!