Is Your Firm's Tech Portfolio Aligned with Its Business Strategy?

Abstract

OVERVIEW:Considerable work has been done by the Industrial Research Institute and other organizations to improve the efficiency of the technology function within a company. Protocols have been developed to evaluate projects, transform them from ideas to products or processes, and generate a balanced project portfolio. However, very little has been done to determine whether or not the portfolio developed is aligned with the company's business strategy, to achieve the company objectives. Consequently, an IRI committee developed a tool for testing this alignment. Ten “Alignment Dimensions,” covering many necessary areas of alignment, have been formulated for use as a communication tool between the different functions within a company. It is believed that more and better discussion will lead to integrated planning and, in turn, better results.