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Portfolio Management – Managing Shared, Perishable Resources
Portfolio managers direct deployment of assigned resources across the several programs, projects, and processes they oversee in a manner that maximizes the organization’s return on investment. (See Figure 1) Complicating the portfolio manager’s work is the myriad of differing resource types; resources that are often limited and shared by the portfolio’s many components.
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As previously stated, we believe organizations act in accordance with the shared values of the people that comprise them. What an organization values is represented by the rewards sought in return for its products and services, the organizationally defined acceptable methods of reward pursuit, and the manner in which benefits realized are parsed to the organization’s members. Therefore, organizational accountability, the timely and consequential pursuit of mission goals, is driven by the ability of the organization to quantifiably measure earned rewards and the culturally determined method of assessing and recognizing employee performance.
Complex decisions require executives and managers to synthesize a multitude of variables into meaningful information from which they must choose a course of action. Some executives and managers combine clarity of thought and depth of knowledge and experience with a true understanding of the organization’s goals to identify and select a well founded decision option. Others find their perspective clouded by personal bias, self interest, misinformation, inexperience, and/or a lack of decision-making fundamentals knowledge; falling prey to logic fallacies, the misapplication of logic during problem solving. While a lack of knowledge and/or experience with problem solving may contribute to logic errors, they are typically the product of decision-makers’ underlying desires.
Organizational accountability is built on the premise that individuals are equitably rewarded based on their contribution to the accomplishment of the organization's goals consistent with its ethical values. Performance, therefore, becomes more than just 'making the numbers.'
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