A product portfolio roadmap is used to set the the strategy and timeline for all product efforts across an entire group or a set of products in an organization. Planview is uniquely positioned to help organizations navigate strategy to delivery transformation by providing the full spectrum of enterprise Portfolio Management and Work Management solutions. to sell new products in new markets. In product portfolio management there is an assumption that a company has an existing set of products. As an outgrowth of the diversification trend in U.S. corporations, in which companies are expanding their product lines and entering new businesses, portfolio models have gained wider acceptance. It is one of the seven core competencies of the Lean Enterprise, each of which is essential to achieving Business Agility. As a result, we developed a brand consolidation strategy and deployment plan that identified an actionable plan to retire ~49% of product families and rebrand another 18%. This strategy is often more risky since the firm decides to make unfamiliar products for the unfamiliar markets simultaneously. 2. It is your route to getting strategy implementation closer to the financial goals you have formulated. Support the strategy of the enterprise; Portfolio Management is the responsibility of the senior management team of an organization or business unit. Track and drive portfolio changes that are consistent with a company’s financial objectives. Imagine adapting to the changing world of work , realizing agile at scale , creating a culture of innovation , and making the product shift . The Lean Portfolio Management competency aligns strategy and execution by applying Lean and systems thinking approaches to strategy and investment funding, Agile portfolio operations, and governance. 1. Strategy& analysed each product line within the portfolio with the goal of minimising redundancy and overlap while maintaining functional coverage of market needs. Make sure that each brand has a well-defined role or set of roles to play in each product-market context that it … Project portfolio management refers to the centralized management of one or more project portfolios to achieve strategic objectives. An optimized portfolio strategy and appropriate drug portfolio management methodology are the major must-have components and enablers of the commercial success of any pharma company. Great product managers engage in strategic thinking and execution every day – from the identification of lucrative market opportunities to the development of the product portfolio […] Take a more comprehensive view of the solutions your company can offer. As your clients’ buying habits, expectations and perceptions of value rapidly evolve, your approach to product and offerings management must keep pace. Product managers at technology service providers are challenged to update their product portfolios to remain aligned to the needs of a rapidly evolving market.Current and prospective customers too often seek the latest digital technologies that merely hold the promise of improving organizational processes. Why Every Organization Should Use the Product Portfolio Management Strategy 1. The latest Portfolio Management software will incorporate a strong business case and be aligned with your business strategy, considering investment, customer need, likely return and risk level. This team, which might be called the Product Committee, meets regularly to manage the product pipeline and make decisions about the product portfolio. We help you set the strategy that determines investment allocation across functional areas and brings products and services to market. Strategically manage your product portfolio to make the right investment decisions, optimize the value of your portfolio, and allocate the use of resources. Gathered from my book, Brand Portfolio Strategy, here are 10 guidelines that point toward the creation of a cohesive, effective, well-defined brand portfolio strategy. Learn to develop a strategic mindset that anchors product strategy as the pathway to growth. It encourages ideas. Product portfolio management simply implies that a business use a different pricing strategy within its product mix, one that matches a given product’s strengths, or lack thereof, to a price that maximizes returns – even if they’re minimal. Connecting your product strategy to actual resources is what turns a plan into reality, but the process for managing this gets increasingly more complex as your product portfolio grows in size. 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