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Organizations started implementing the Lean Portfolio Management approach to work in an organized manner. Leaving the traditional methods behind, organizations are now expanding their businesses by applying the Lean-Agile methodology. This approach helps them to organize their teams in value streams and ARTs for continuous improvement. And assists them in focusing on eliminating tasks that delay the team’s productivity. This methodology comes with a specific approach that provides an alignment and governance model for the company’s portfolio.
So far it is acknowledgeable that Lean Portfolio Management has helped businesses to develop self-organized and self-managing ARTs that achieve milestones by generating working solutions. In this article, let’s discuss the future of Lean Portfolio Management and how it is going to be.
Want to know the ways to achieve business agility with Lean Portfolio Management? Here is our article “How Lean Portfolio Management can help you achieve Business Agility?” to guide you.
Future Predictions and Trends of Lean Portfolio Management
Compared to the traditional approach, the Lean-Agile approach has equipped organizations to continuously develop their systems. To eliminate the misalignment, they need a Lean way of working. This methodology gives a complete shift to organizations from annual planning to fixed expectations to give importance to high-value work first. This way they can reduce waste and improve their flow of work.
By adopting the Lean-Agile way of approach, organizations can organize a value stream that describes the significant steps from value creation to value delivery. Due to its ability to maximize the company’s value in the competitive market by embracing an iterative approach and continuous planning, Lean Portfolio Management is assisting and will continue to assist organizations wanting to improve their methodology. And it will help them sustain in the market too. This importance of companies adapting the LPM way of working also encourages courses like Lean Portfolio Management Training to equip leaders with appropriate knowledge.
Organizations can continue to take advantage of the benefits that come with the Lean Portfolio Management approach. Some of the future predictions are:
With the Lean-Agile approach, organizations are more focused on developing value around customer needs. So, it is expected to find value streams becoming more prominent among organizations. They are more focused on crafting a team that is self-organized and capable enough to adapt to new trends and changing needs of the market.
As we mentioned earlier, compared to the traditional approach that runs linearly, an iterative way of working creates more opportunities for improving flexibility among teams. This approach helps derive outcomes by measuring the results and value delivered to customers.
The Lean Portfolio Management process is expected to foster or encourage continuous improvement among agile teams with certain tools. They are portfolio Kanban system and important metrics to track the progress of the system. This will enhance the quality of the value and help identify the impediments to eliminating the wastes.
As businesses are turning virtual the demand for better working systems continues to grow. The need for smooth functioning and growth of the business relies upon a better approach. And that is the Lean way of working that focuses on the highest-value tasks.
So, the increased demand for adopting LPM methodology in organizations paves the way for leaders who are well-versed in applying this approach. Large organizations are hiring agile professionals who are knowledgeable enough to run their projects. And so agile professionals should focus more on acquiring the necessary knowledge about the LPM methodology. This can be done through the Lean Portfolio Management Certification course available online.
Lean Portfolio Management Certification
Lean Portfolio Management is a two-day course that helps agile practitioners improve their knowledge of Lean methodology. This course provides them with the necessary knowledge regarding establishing strategy and investment funding, ways to apply portfolio operations, and implementing the Lean Portfolio Management function. After the completion of the course, the candidates must attend an online test. With the completion of the course and the test, they are given a certificate that demonstrates their knowledge regarding LPM methodology.
Read this, “How to Lead an Enterprise Lean Agile Transformation: Learn Implementing SAFe with SPC Certification” to understand LPM better.
Conclusion
In conclusion, with the principles of Lean and Agile the Lean Portfolio Management methodology continues to help organizations generate working solutions. Organizations to manage their portfolios of projects aligned with the business goals and to make an agile transformation can adopt this methodology.
For further reading: “Six Ways of Scaling Agile.”
FAQs
1. What are the benefits of Lean Portfolio Management?
Lean Portfolio Management helps organizations manage projects with improved decision-marking, increased transparency and efficiency, and better alignment of strategy and execution. And also helps in budget management.
2. How hard is the Lean Portfolio Management Certification?
The Lean Portfolio Management Certification is an advanced-level training course that helps individuals to become Lean Portfolio Managers. Depending on the prior knowledge of the candidate the difficulty level differs. Mostly it is a challenging course as it equips agile professionals with Lean-Agile leadership skills. It helps the candidates to reach their full potential to empower an organization’s agile teams.
3. How to start the Lean Portfolio Management process for your organization?
Lean Portfolio Management process is a continuous journey of improvement. So before adopting the Lean methodology the leaders in an organization must understand the principle and practices of the Lean-Agile process. They must evaluate their current portfolio status so that they can align strategy with execution.
About Advance Agility
We, at Advance Agility, are the new-age Agile Coaching, Consulting, and IT services company. We enable end-to-end Digital Transformation. Agile execution is integral to our being. We are doing SAFe implementation with small, medium, and large organizations across the globe.
Our vision is to be the leading Agile execution player globally. To keep adding value at every process stage. We are on a mission to empower our clients and move from concept to cash in the shortest sustainable lead time by adopting the human-centric approach to business agility. Embracing change is in our DNA.
Things that keep us apart are Quicker and Seamless execution with End to end gamut of services. Our Global presence and Stellar Track Record give us an edge over our competitors.
Connect with us at advanceagility.com to learn about SAFe and SAFe implementation. Write to us at contact@advanceagility.com for any agile training or consulting needs. We are always looking for competent agile trainers as well. So if you are the one or want to become one, do get in touch with us to that we can learn, grow and achieve together.
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