Client Issue: “We have too many projects that are going through the product development process. We can’t agree on which projects are most important, so we just do them all. Consequently, some of our product development team members are assigned to as many as 5 different projects; they’re spread just too thin, they can’t seem to complete any of their tasks on time, and all our new product development projects are delayed for months.”
Solution:Resource allocation among projects is one of the biggest black holes of product development for our clients. The question that needs to be answered is how many projects can I execute, with my available resources?
One of the root causes is the lack of a system for evaluating, comparing and prioritizing projects, which leaves the management team to make ad hoc prioritization decisions. Another is the lack of a system for evaluating and prioritizing resources, which usually leads to over-commitment of resources and project delays.
We work with your team in developing a portfolio management system that provides a portfolio-level view across all your product development projects. This helps facilitate comparisons of projects on key dimensions to ensure balance on key characteristics such as strategy, risk, size of investment, etc.