How the blocked product development was remedied with the help of an opportunity portfolio?

Defining the opportunity portfolio management practices made product development even smoother.

The challenge is the advancement of the product

The growth of an international company working in the software industry had long been stable but moderate. New customers had been acquired from several continents, but at the same time the burden of product development in supporting old customers and product versions had increased and the development of new ones had slowed down. Decentralized work, which went to both customer- and market-specific implementations, consumed a lot of resources, and no next gear for growth was found.

The advancement of an opportunity portfolio as the assignment

Contribyte’s assignment was to develop idea portfolio management. The assignment was divided into three phases, the first of which focused on the current management of the idea portfolio, the second phase focused on the suggestions for improvement resulting from the analysis, and the last refined the implemented operating models.

 

First, the analysis of idea portfolio management, then the focus was on suggestions for improvement, and finally, the implemented operating models were refined.

The results and measures of the analysis

The first phase of portfolio analysis was conducted by getting to know the company’s processes, attending portfolio management meetings, and interviewing eight stakeholders. The analysis revealed that different parts of the company had conflicting goals and a portfolio strategy as well as a lack of a systematic way to deal with new business opportunities. In the absence of a clear strategy and guidance to address new business opportunities, more urgent but less important issues took precedence in product development. New ideas and opportunities were addressed case-by-case and individually, and not by comparing to other resource-intensive opportunities.

The five proposals for action included both the development of the opportunity portfolio process and the tools required for it, as well as the entire portfolio management strategy. As different types of development needs were divided into different baskets, the allocation of resources became clearer and bandwidth and predictability were gained for the development of the new.

As different types of development needs were divided into different baskets, the allocation of resources became clearer and bandwidth and predictability were gained for the development of the new.

The benefits for the client

After the project, the management team had a clear vision of why product development is blocked and what can be done about it. Sales better understood why their needs did not always progress and how they should take their hopes forward. For product development, the assignment better opened up the importance of business calculations and an understanding of pricing.

However, the main benefit was a new process for evaluating, selecting, and forwarding opportunities. In the future, the outlook and credit for the success of the new development are much higher than before.

 

In the future, the prospects and credit for the success of the new development are much higher than before!

Contribyte services related to this customer experience

The improvement of product management and portfolio management

Making product and portfolio management more agile and creation of innovation models. We provide tools and operating models for organizational development.

Product development assesment

We delve into the current state of your product development and create a concrete development plan to develop product development.

We get organizations to reach their full potential in developing solutions and products that take advantage of digital

Contact us!

Send us a message with the form down below or take a look at our contact information.

Lasse Mikkonen, Chief technology officer, Atlassian and other tools 040 543 9845
Henri Hämäläinen, CEO 050 487 3291
Timo Leppä, training services 0400 924 830
Harri Pendolin, product management 040 582 0865

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