Organizations are complex. Work is carried out across multiple functions and departments, frequently in many different locations, and with numerous potentially conflicting priorities. In this environment, it’s critical that teams have a common understanding of strategic priorities, and investments designed to deliver on those priorities. If that shared comprehension is lacking across the organization, it’s like trying to accelerate with a foot on the brake.
But how do you achieve this common understanding? How do you ensure that everyone involved in strategy delivery is pulling in the same direction— the right direction? It takes clear communication and shared understanding. Historically, organizations have found this shared understanding hard to achieve, resulting in confusion, projects that aren’t optimally aligned, and objectives that aren’t consistently achieved. But it doesn’t have to be that way.
The role of strategic portfolio management
Successful organizations are embracing strategic portfolio management (SPM)to improve alignment between strategy, investments, work, and outcomes. Our clients are using ServiceNow® Strategic Portfolio Management (SPM) to plan collaboratively, modeling different proposed portfolio mixes, adjusting strategies and priorities, and understanding how proposed changes impact performance.
Using ServiceNow SPM’s powerful roadmapping capability, organizations are then able to communicate those strategies, priorities, goals, and objectives to all stakeholders in a consistent manner that is intuitive and straightforward. This immediately helps eliminate some of the confusion and strategic misalignment across organizations that is all too common by providing an easy-to-understand visual strategic baseline that can drive all investment work.
Those key investments can be derived directly from strategy, providing alignment between the funded work and the required performance targets that work is designed to deliver. Everyone from the C-suite to the front line of the business can see not just what is expected to be delivered, but how that work contributes to top level success.
Easily adapt evolving strategic plans
Of course, in today’s world, things change. Plans must evolve and adapt in response to shifting operating environments, emerging opportunities, and new threats. ServiceNow’s SPM solution allows for rapid, straightforward replanning with the ability to understand impacts on dependencies, schedules, resources, and objectives. Then updated roadmaps can be shared that clearly show where changes are needed and how they can be achieved.
With a strategic focus, supported by SPM concepts and the right SPM platform, organizations can avoid misalignment. They can eliminate work that doesn’t contribute to the success of the business, and they can ensure that all areas are able to achieve the best outcomes possible in support of strategy. And with everyone pressing the gas pedal, organizations can achieve what they never previously thought possible.
To learn more about the benefits of aligning work to strategy check out the SPM eBook.
