Enterprise investment management simplified: Prioritization

To build on investing in the right things, at the right time, the enterprise should prioritize top strategic initiatives within the enterprise portfolio. Using data to inform prioritization decisions is key. Executives and senior leaders want top initiatives to align to strategy, objectives, measurable business outcomes and financial factors (defined in the business case, which was covered in my previous post).

A Prioritization Scorecard calculates priority data that is needed to inform decisions, which are strategic drivers, or key values that align to strategic goals, and detractor information, key values that take away from the project. The data attributes for the key values should be taken directly from the business case. The key outcome is using this scorecard data to generate collective buy-in from senior leadership on top strategic priorities.

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Enterprise investment management simplified: The business case

How can you help your department invest in the right things, at the right time? The way you develop your plan can help clarify what your priorities and goals are — and having clear goals is an important part of being able to achieve those goals.

Start with the basics. The foundation is a business case. You want your company’s senior executives, to all levels of employees, to clearly understand what you are trying to achieve with an initiative for a product or service offering.

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