I see a lot of organisations and each one uses portfolio management in a unique way, it’s so interesting and such a good mind expander that I’ve decided to publish a fortnightly blog post called “4×4” to help share this knowledge.
4×4 will contain 4 answers to portfolio related questions that other portfolio management people from around the world have answered for me. The second 4 in 4×4 means we must be able to read all 4 answers within 4 minutes.
First up is Kirsty Bennett, Director of Portfolio Management at Carnival which is the largest cruise line company in the world, and doing some very interesting portfolio work with unique constraints e.g. changing cruise liners that are sailing around the world continuously.
1. What areas of portfolio management provide you with most value?
Visibility – knowing the size of the prize once Portfolio Definition is complete. We all like to know what it is we need to do in order to deliver business outcomes. This also greatly improves employee engagement.
2. What are your biggest challenges with portfolio management?
The naysayers – there is always one, usually at Exec level, who will say ‘I don’t get it’. You can bet they do, and that they can see that their ‘pet project(s)’ will now come under the same challenge and scrutiny as all other initiatives needing precious resource, be it human, capital or both.
3. How are you overcoming those challenges?
Resilience, dogged determination and humour.
4. What are you top tips?
Sponsorship – from the top, from the sides and from underneath.
Communications – The next time I do this I am going to have a PR and comms work stream.
If you want to be featured in a future 4×4 – email me (firstname.lastname@example.org) with your answers to these same questions. Remember, no more than 4 minutes reading time please.