Portfolio processes

Concientious behaviour would typically propose or want to see:

• a rational explanation of what portfolio management is aiming to achieve;

• a consistent and systematic approach to initiating, governing, managing and co-ordinating a portfolio;

• a long term commitment to maintaining and monitoring the portfolio;

• tangible and detailed financial benefits which are measurable and can be shown to be realised from the investment.

Someone exhibiting concientious behaviour would typically be perceived as:

• increasing bureaucracy and delay when insisting on evidence and facts to justify the adoption of portfolio management;

• discounting intangible / non-financial benefits and relying solely on tangible / financial benefits for the justification.

Dominant behaviour would typically propose or want to see:

• action taken quickly to complete the initiation process;

• a pragmatic view of the achievability of the perceived value;

• that they have maximum freedom to take action as they believe necessary to complete the initiation process;

• resources being identified and committed to portfolio management in the short term.

Someone exhibiting dominant behaviour would typically be perceived as:

• focusing on short term wins and the demonstration of value as quickly as possible;

• focused primarily on quantifiable / financial benefits of portfolio management and potentially dismissing those benefits that cannot be described in this way.

Steady behaviour would typically propose or want to see:

• key individuals are given the opportunity to input and influence the decision;

• equal consideration to intangible and non-financial benefits when considering the potential value;

• a clear understanding of the positive and negative impacts on people of introducing portfolio management;

• caution regarding how quickly portfolio management can be adopted especially where it involves a change in people’s attitudes and behaviours.

Someone exhibiting steady behaviour would typically be perceived as:

• being empathic to the impact of the proposed changes on people;

• a leader who wishes to ensure that there is adequate investment in managing the change associated with implementing portfolio management;

• focusing on the attitudes and behaviours of those impacted versus the tangible benefits  of adopting portfolio management;

• focusing on dis-benefits of portfolio management as well as benefits.

Influential behaviour would typically propose or want to see:

• clear communication on the importance of portfolio management and its role in improving team motivation and thereby performance;

• short term responsibilities for portfolio management identified and clarified with people;

• encourage early interaction within the team and with stakeholders as part of the adoption process;

• a broad view of the benefits of portfolio management adoption - intangible and non-financial.

Someone exhibiting influential behaviour would typically be perceived as:

• over-estimating the value in some intangible and non-financial benefits of portfolio management to the organisation;

• being overly optimistic regarding the ease with which portfolio management can be adopted.

Concientious behaviour would typically propose or want to see:

• the consistent use across the portfolio of methodical, fact-based tools and techniques that provide quantitative data to facilitate objective decision making;

• principles and details of the way valuation tools should be used;

• a methodical and evidence based approach to measuring the before and end-states, which objectively demonstrates the value of the portfolio;

• a high proportion of information that is robust, verifiable and against which measurement can take place.

• performance quantitatively judged during the management process;

• a comprehensive and robust portfolio plan linking outputs to the necessary changes that will realise the benefits and all steps for a successful transition.

Dominant behaviour would typically propose or want to see:

• the use of portfolio management tools and techniques that are quick to implement and provide short term value;

• a focused set of data around which logical decisions can be made;

• that lessons learned are taken into account and acted upon;

• quantitative rather than qualitative output from the portfolio processes that allows speedy decision making;

• flexible approaches which are there to act as guidance for those responsible for implementing the processes;

• sufficient and verifiable information against which measurement can take place and progress can be easily monitored across the portfolio

• accountabilities for managing the portfolio processes made clear and formally recorded;

• timely monitoring and control to ensure that people are being held to account against their responsibilities.

Steady behaviour would typically propose or want to see:

• the involvement of people, ideally through one-to-one discussions in the selection, categorisation, prioritisation and balancing phases;

• benefits and dis-benefits that are people centric (often intangible and non-financial);

• communication with people from other portfolios to obtain lessons learned, focusing on the impact on people of the practice of portfolio management;

• the use of qualitative techniques  as well as quantitative;

• comprehensive portfolio processes that clearly identify responsibilities including their own;

• an approach that has been agreed by all parties with clear responsibilities that are fairly allocated across the portfolio management team;

• resources being deployed to communicate with all those impacted by the decisions made through the management process;

• a focus on minimising the negative impact on people and ongoing operations if prioritisation / balancing results in major changes within the business.

Influential behaviour would typically propose or want to see:

• the involvement of team members and stakeholders through discussion and workshops to ensure a broad mix of views is considered;

• communication  with people from other portfolios, typically in a workshop setting, to obtain lessons learned

• less focus on dis-benefits where they don’t consider them significant;

• information for the portfolio processes created with minimal level of formality;

• resources being deployed to ensure sufficient performance information is available across the portfolio;

• the adoption and use of qualitative techniques for valuing benefits;

• flexible processes that are there for guidance allowing people to tailor and adapt;

• effort put to marketing and communicating the portfolio to a broad audience to ensure their support;

• a personal role in this, potentially acting as a spokesman for the process and helping people to understand the impact of the changes implemented by the portfolio

• a flexible and simple means of monitoring actions.