How can you align a technology portfolio with organizational goals?

1 Define your organizational goals

The first step is to define your organizational goals clearly and explicitly. These are the high-level outcomes that you want to achieve as a result of your technology initiatives. They should be aligned with your mission, vision, and values, as well as your external and internal stakeholders' expectations. You can use frameworks such as SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) or OKR (Objectives and Key Results) to help you set and communicate your goals effectively.

2 Assess your current technology portfolio

The second step is to assess your current technology portfolio and identify its strengths, weaknesses, opportunities, and threats. You need to evaluate how well your existing projects, products, services, and assets are performing, delivering value, and meeting the needs of your users and customers. You also need to consider the risks, costs, dependencies, and interdependencies of your technology portfolio. You can use tools such as portfolio maps, scorecards, dashboards, or heat maps to visualize and analyze your portfolio data.

3 Prioritize your technology portfolio

The third step is to prioritize your technology portfolio based on your organizational goals and the results of your assessment. You need to decide which projects, products, services, and assets are most important, urgent, and beneficial for your organization, and which ones are less relevant, redundant, or obsolete. You can use criteria such as strategic alignment, business value, customer satisfaction, technical feasibility, resource availability, or return on investment to rank and select your portfolio items.

4 Plan your technology portfolio

The fourth step is to plan your technology portfolio and define the scope, schedule, budget, and resources for each portfolio item. You need to establish the objectives, deliverables, milestones, and success measures for your projects, products, services, and assets. You also need to allocate and optimize the human, financial, and physical resources that you need to execute your portfolio. You can use tools such as project management software, Gantt charts, or resource matrices to plan and track your portfolio activities.

5 Execute your technology portfolio

The fifth step is to execute your technology portfolio and implement the actions that you have planned for each portfolio item. You need to follow the best practices of project management, product development, service delivery, and asset management to ensure the quality, efficiency, and effectiveness of your portfolio. You also need to monitor and control the progress, performance, and outcomes of your portfolio. You can use tools such as status reports, issue logs, or change requests to communicate and manage your portfolio execution.

6 Review your technology portfolio

The sixth and final step is to review your technology portfolio and evaluate the results and impacts of your portfolio items. You need to measure and compare the actual outcomes against the expected outcomes, and identify the achievements, challenges, and lessons learned from your portfolio. You also need to update and adjust your portfolio based on the feedback, changes, and opportunities that arise in your organization and environment. You can use tools such as surveys, interviews, or metrics to collect and analyze your portfolio feedback.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?