Creating and managing value-driven product portfolios
The product portfolio decisions you make today will determine whether your company is relevant tomorrow. With such a fine line between success and failure, now is the time to make product portfolio decisions based on fact--not guesswork, political agendas, intuition or the opinions of the loudest voice in the room. Successful product portfolios are parked at the intersection of what is valuable to both your customers and your business. Companies with successful product portfolios often utilize a systematic process to effectively guide which projects are selected. After all, every new product initiative is an investment of scarce resources. To increase the chances of marketing a successful product, organizations must become value driven; that is, they must deliver products and services to the consumers they value the most, and they must provide those deliverables when their consumers want them. Benchmark analysis indicates that companies that are best in class at portfolio management are four times more likely to achieve margin advantages of 75 percent or higher for products on the market for less than two years. Becoming value driven requires a continual assessment of how value can be increased through the optimization of the products, services and projects that your organization delivers. Read this whitepaper to learn more about how your organization can improve product portfolio management with a more value-driven approach.