Identifying projects by business objective

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Business plan objective 1 objective 2 objective 3

objective 4

BOARD

project 7

Programme

Portfolio

Programme project 7

project 8

project 9

Business as usual

Portfolio inefficiencies generated by the passing of a project from one department to another. But there will be a cultural and procedural cost. It is possible to implement this approach only if an organisation is prepared to adopt the basic principles outlined in this guide. Figures 2.2 and 2.3 show the fundamental differences between an organisation that achieves change through departmental activity and one that does it through projects.

This is not to say that the departmental approach cannot be made to work. It may well be the point from which the cultural change begins. But it does not provide effective governance for projects to thrive and deliver successful outcomes. If an organisation is serious about adopting a project-focused approach, it should make sure its projects are based as directly as possible on its business objectives, not on a blinkered departmental vision. Only then is it possible to have faith that the outcome of a project will contribute directly to the strategy.

Before understanding how to derive a project from a company's business plan, it is necessary to know what is meant by a portfolio and a programme.

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