Running product portfolios at scale necessitates a balance between autonomy and alignment. Autonomy allows teams to move fast and make decisions, while alignment ensures that these decisions fit into the broader business strategy. To achieve this balance, three key principles are suggested: centralised decision-making, decentralised execution, and a robust portfolio management process.
Centralised decision-making involves setting a clear direction and making strategic decisions at the top level. This allows for consistency across the organisation. Decentralised execution, on the other hand, gives teams the freedom to execute their tasks as they see fit, promoting speed and innovation.
A robust portfolio management process is the glue that binds these two principles together. It involves tracking and managing the progress of various projects, ensuring that they align with the overall business strategy. This process should be transparent, allowing everyone in the organisation to understand how decisions are made and how projects are progressing.
To successfully implement these principles, organisations need to adopt a product mindset. This means viewing products as the core of the business, rather than as projects or features. It also means investing in the right tools and processes to manage products at scale. Finally, it requires a culture of learning and experimentation, where teams are encouraged to test, learn, and iterate on their products.
Go to source article: https://www.mindtheproduct.com/2017/08/run-product-portfolios-scale/