Concepts

Evaluating organizational strategic goals and objectives is an important element of portfolio management. This can be achieved through various means including document reviews, conducting interviews, and other information gathering techniques. These are imperative in understanding the strategic priorities of an organization, which is a key attribute for Portfolio Management Professional (PfMP) certification exam.

Document Reviews

Document review, as a traditional method of information gathering, involves studying all the relevant data, records, reports, plans, and other documents pertaining to the strategic goals and objectives of the organization. Documents such as strategic plans, project charters, business cases, and even financial reports provide crucial insights into the organizational direction and priorities.

For instance, an analysis of the strategic plan could reveal aspects such as the vision, mission, core values, strategic objectives, and goals of the organization. On the other hand, reviewing project charters could highlight specific operational objectives, project focus, and scope.

Interviewing

Another effective method for evaluating organizational strategic goals and objectives is through interviewing key stakeholders. This might include senior management, operational managers, project managers, staff, among others. During the interview, important insights can be gathered about the organization’s strategic priorities, challenges in achieving strategic goals, and the perception and understanding of these goals at different levels within the organization.

A hypothetical example of this could be interviewing the senior management to understand the strategic direction they envision for the organization. Then, talking to project managers to see if their projects align with this direction. A misalignment here could highlight issues with strategic execution within the organization.

Other Information Gathering Techniques

In addition to document reviews and interviews, other information gathering techniques include surveys, workshops, focus groups, and observation. These techniques can be used to complement the information obtained from document reviews and interviews.

For example, a survey could be conducted to gauge the understanding and commitment of staff towards strategic objectives. Workshops could be organized to refine and clearly define these objectives. Observations could provide practical insights into how these goals are being implemented on the ground.

Understanding Strategic Priorities

Understanding the organization’s strategic priorities involves assessing the importance of each strategic goal or objective. Priority may be determined based on factors such as the organization’s value proposition, competitive position, resources, or stakeholder expectations. For example, for a tech start-up, innovation might be a top strategic priority to ensure a competitive advantage in the market.

Conclusion

In summary, evaluating organizational strategic goals and objectives necessitates a thorough understanding of the organization and its environment. This can be achieved through document reviews, interviews, and the use of other information-gathering techniques. Understanding strategic priorities helps to map out the key focus areas and guides the decision-making process in portfolio management. The PfMP exam will require you to demonstrate competency in using these techniques effectively to manage and align projects and programs with strategic priorities.

Answer the Questions in Comment Section

True or False: Change management techniques can be employed to enhance portfolio performance and sustain strategic alignment.

  • True
  • False

Answer: True

Explanation: Change management techniques facilitate smooth transitions and maintain the strategic alignment of the portfolio, hence improving its performance.

Which of the following is NOT a change management technique often used in portfolio management?

  • A. Communication planning
  • B. Resistance management
  • C. Process modeling
  • D. Ignoring the change

Answer: D. Ignoring the change

Explanation: Ignoring change is not a strategy. Effective change management involves active planning, communication and resistance management.

True or False: Effective implementation of change management techniques in portfolio management doesn’t require clear communication.

  • True
  • False

Answer: False

Explanation: Clear communication is essential in change management to ensure that everyone understands the change and the planned strategies for implementing it.

What is the PRIMARY goal of managing portfolio changes using change management techniques?

  • A. To preserve current portfolio performance
  • B. To sustain strategic alignment
  • C. To improve portfolio performance
  • D. To maintain project continuity

Answer: C. To improve portfolio performance

Explanation: While all options are important, the primary goal of managing portfolio changes with change management techniques is to improve portfolio performance.

True or False: Resisting the changes in a portfolio is a common part of change management techniques.

  • True
  • False

Answer: False

Explanation: A key element of change management techniques is resistance management – helping people accept and adapt to changes, not resisting them.

Changes in your portfolio should be:

  • A. Avoided at all costs
  • B. Accepted without question
  • C. Managed effectively
  • D. Ignored unless major

Answer: C. Managed effectively

Explanation: Changes in a portfolio should be managed effectively using change management techniques to ensure the portfolio performance improves.

Which of the following does NOT affect the strategic alignment of a portfolio?

  • A. Technical developments
  • B. Changes in the organization’s strategy
  • C. Stakeholders changing their mind about a project
  • D. The weather

Answer: D. The weather

Explanation: The weather doesn’t affect the strategic alignment of a portfolio unlike other factors.

True or False: Change management involves modifying existing strategies to align with new goals.

  • True
  • False

Answer: True

Explanation: Change management indeed includes reassessing and modifying strategies to keep in alignment with new goals or changes.

Major changes can sometimes lead to:

  • A. Reduction in performance
  • B. Disruption of workflow
  • C. Both A and B
  • D. Neither A nor B

Answer: C. Both A and B

Explanation: Major changes, if not managed effectively, can disrupt workflow and reduce performance.

True or False: A well-executed change management process has a high chance of failing.

  • True
  • False

Answer: False

Explanation: If a change management process is well-executed, it increases the chances of success not failure.

Which change management technique involves giving clear, concise explanations of the change to all stakeholders?

  • A. Communication planning
  • B. Resistance management
  • C. Process modeling
  • D. Risk management

Answer: A. Communication planning

Explanation: Communication planning involves giving clear, concise explanations of the change to all stakeholders.

True or False: Portfolio Management Professionals (PfMP) should always practice and improve their change management techniques.

  • True
  • False

Answer: True

Explanation: As professionals, PfMPs should always work on enhancing their skills including their change management techniques, to improve portfolio performance and maintain strategic alignment.

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Aiza Hægeland
8 months ago

Managing portfolio changes effectively can really help with staying aligned to strategic goals. Any tips on specific change management techniques?

Melvin Le Gall
7 months ago

Absolutely helpful post! Thanks for sharing.

Leon Robertson
8 months ago

How can we ensure that our portfolio changes remain aligned with strategic objectives over time?

Elisa Moya
7 months ago

Great insights on change management techniques. Thanks!

Giray Günday
8 months ago

For large portfolios, what tools/frameworks do you recommend for managing changes?

Maddison Hughes
7 months ago

This blog really amplifies important points in PfMP. Thanks!

Keith Rhodes
8 months ago

How do organizations deal with resistance to change within their portfolios?

Angela Cano
6 months ago

Awesome content!

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