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Millennials: 2 years
Gen X: 5 years
Baby Boomers: 7 years3
Business models have changed. Big data and analytics poked While overarching strategy and budget decisions will still be
holes in traditional planning and budgeting processes. Today, made by executives, planning processes will become more
competitive differentiation comes down to how quickly a iterative. Organizations will look to Portfolio Managers for
business can utilize real-time analytics to pivot and meet market insights and information to guide smarter decision making that
demands. True agility is only possible when businesses have accommodates market shifts.
access to relevant data and are agile enough to adapt “the plan”
as needs change.
Portfolio Managers are the next Chief Strategy Officers
In the coming years, an enlightened PMO will emerge. This As business evolves, so does
organization will actively include the often-overlooked middle the project management office.
“P” in PPM—portfolio management. Using a robust project AND The PMO isn’t just about getting
portfolio management tool, Portfolio Managers will utilize real- work done on time and on budget anymore.
time information to assess portfolio health, recognize opportunity, It’s stepping away from just managing
align execution and strategy, and communicate insights and the chaos and moving toward a smarter,
recommendations to the executive team. Their observations and more impactful mandate for creating order
performance analytics will inform the planning process and help across the business. Portfolio Managers
shape the pipeline. play a big role here. It will be their job
to ensure organizational alignment and
The PMO will shift from “process management” to “strategy maximize the impact of investments.
management.” Project execution will address more pressing
initiatives that weren’t chiseled into stone at the start of the The truth is, the Portfolio Manager will be
year, but instead pertain more closely to the actual state of the more influential and more essential than
business. This move will ultimately secure strategic thinkers, like ever before.
Portfolio Managers, a seat at the executive table under a title that
communicates this change: Chief Strategy Officer. Eric Bergman
Vice President, Product Management
So, the PMO isn’t dead—it’s different. Changepoint
This is a big deal, especially for industries experiencing mergers Record-setting deal intentions mean M&A will remain a key
and acquisitions (M&A). Worldwide in 2016, announced M&A strategy for deploying capital, diversifying into new markets,
deals year-to-date have topped $3.29 trillion7, putting the year making transformational changes to business models, and
at an only slightly slower pace than 2015’s record $4.7 trillion. achieving growth.
In 2017, the “adapt to thrive” mentality shaping business is
While megadeals take years to unfold and HR and
expected to find U.S. companies increasingly turning to M&A to
marketing wrestle with workforce integration and branding,
drive business growth.
rationalizing processes and technology across business units
The uptick will come as executives are simultaneously to adapt is a foundational step. For those navigating M&A activity,
to dramatic market shifts and drive growth in a stunted economy. consolidating assets means a full pipeline for the PMO.
Business capabilities will take center stage
As businesses adopt IoT solutions, implementing and supporting More and more companies are positioning
devices will increase project volume and transform project types. IoT as a business strategy. They understand
The influx of data from smart devices will also require a new level that connecting their products to the Internet
of management and will impact resource demands as projects takes innovation to a new level. It also
arise and evolve. transforms IT departments from cost
To add another dimension, B2B businesses have to consider
centers to profit centers as these companies
two things: where does IoT fit in the product portfolio and
work to align IT strategy with business
where does it fit in internal operations? For software companies,
strategy. This transformation requires IT to
product development will have to consider if, where, and how
focus on business outcomes and drive value
IoT is going to affect R&D and the roadmap in the coming
for their companies.
years. For internal operations, IT will have to figure out if smart Brandon Evans
devices are right for the office, how they’ll be maintained, and Vice President, Technology
how cross-departmental adoption will be inventoried to reduce Changepoint
redundancies.
With the visibility and control that Changepoint provides, smarter decisions
are easier to make, innovation is accelerated, and businesses are better
poised to adapt to today’s changing landscape. The result? Align execution
with strategy, drive digital transformation, and enable new business growth.
For more information, visit: http://www.changepoint.com/.
Citations:
1. AppInstitute; “Pokemon Go App Downloads and Revenue in Real Time”; Retrieved from: http://appinstitute.com/pokemongo-realtime-stats/
3. Forbes; “Millennials in the Workplace: They Don’t Need Trophies but They Want Reinforcement”; Retrieved from: http://www.forbes.com/sites/jefffromm/2015/11/06/millennials-in-the-workplace-they-dont-need-trophies-but-they-want-
reinforcement/#1609e0945127
4. Gallup; “How Millennials Want to Work and Live”; Retrieved from: http://www.gallup.com/reports/189830/millennials-work-live.aspx?utm_source=gbj&utm_medium=copy&utm_campaign=20160512-gbj
6. PwC; “Insights and Trends: Current Programme and Project Management Practices”; Retrieved from: http://www.pwc.com/us/en/people-management/assets/programme_project_management_survey.pdf
10. Business Insider; “How the ‘Internet of Things’ will impact consumers, businesses, and governments in 2016 and beyond”; Retrieved from: http://www.businessinsider.com/how-the-internet-of-things-market-will-grow-2014-10
11. Gartner; “Hype Cycle for the Internet of Things, 2016”; Hype Cycle for the Internet of Things, 2016; Authors: Alfonso Velosa, W. Roy Schulte, Benoit J. Lheureux; Published: 14 July, 2016; Available: https://www.gartner.com/doc/3371743/hype-cycle-
internet-things-