Breaking Down Barriers to Success: The Power of Small Work Teams in Program or Portfolio Delivery
For project portfolio managers navigating the complexities of delivery, rethinking your approach could be the key to overcoming obstacles. Transforming traditional project delivery into a product team model, emphasising frequent releases and continuous enhancements, offers numerous advantages. Here's why you should consider breaking work into smaller, manageable pieces and how it can revitalise your project management strategy.
Enhanced Flexibility and Adaptability
In a rapidly changing business environment, adaptability is crucial. Smaller pieces of work allow teams to pivot quickly in response to market shifts or internal feedback without the burden of cumbersome processes or extensive rework. This flexibility keeps your projects aligned with current business needs and ensures that you're consistently delivering value to stakeholders and clients.
Continuous Funding and Resource Allocation
Adopting a product team model facilitates a more dynamic approach to funding. Instead of securing large sums upfront for vast projects, you can allocate resources in shorter cycles. This approach aligns budgeting with actual progress and performance, allowing for adjustments based on real-time results and insights. It empowers portfolio managers to optimise resource use, reduce wastage, and increase the return on investment.
Risk Mitigation
Breaking projects into smaller components drastically reduces risks. Each segment becomes a manageable unit with defined objectives and deliverables, making it easier to identify and address potential issues promptly. This method limits the scope of risk to smaller portions of the project, preventing it from affecting the broader objectives and enabling more straightforward contingency planning.
Boosting Employee Engagement
Smaller, focused teams are often more engaged. They can see the impact of their contributions more directly, fostering a sense of ownership and satisfaction. Regular releases and updates provide continuous success milestones, maintaining team morale and motivation. This heightened engagement enhances productivity and attracts and retains top talent who thrive in innovative and responsive environments.
By embracing the product team approach and focusing on smaller, incremental deliveries, portfolio managers can transform challenges into opportunities for growth and success. This strategy delivers immediate benefits and sets the foundation for sustained adaptability and achievement in an ever-evolving landscape.