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The Complexity of Modern Portfolio and Program Management
In today’s dynamic business environment, portfolio and program management doesn’t happen in silos. Success relies on the ability to manage in all directions—up to senior leadership, down to teams executing the work, and across departments or stakeholders. This 360° management approach ensures that alignment is achieved at all levels, creating a cohesive strategy that addresses both the big picture and the operational details.
At Atlas, we emphasize the importance of managing up, down, and across the organizational hierarchy to improve decision-making, mitigate risks, and ensure successful outcomes across R&D portfolios and programs.
1. Managing Up: Aligning Portfolio and Program Goals with Leadership’s Strategic Vision
One of the most critical aspects of 360° management is managing up—ensuring that portfolio and program managers are in constant alignment with senior leadership. Leaders at the executive level are responsible for defining the overall vision, goals, and resource allocation across the organization, and program managers need to manage up to keep those leaders informed and aligned with day-to-day execution.
a. Translating Strategic Objectives into Actionable Goals
Communication is Key: Managing up effectively means translating high-level strategic goals into actionable tasks for teams. Program managers need to clearly communicate how the execution of individual projects ties back to the broader business objectives.
Presenting Data-Driven Insights: Senior leaders need to be regularly informed of portfolio performance. Atlas program managers use data analytics to provide decision-makers with clear insights into project progress, risks, and resource needs.
Example: A program manager at Atlas might regularly present project updates to senior leadership, showcasing how specific initiatives contribute to overarching goals like innovation, market expansion, or cost savings. By aligning these updates with executive priorities, program managers ensure the portfolio stays on track and well-supported.
b. Managing Expectations and Securing Resources
Effective upward management also involves managing expectations and ensuring the necessary resources are available to support project execution.
Setting Realistic Expectations: Program managers need to provide leadership with accurate timelines and resource estimates, helping avoid unrealistic expectations.
Advocating for Resources: When program managers demonstrate how specific resources will impact project outcomes, they are more likely to secure the financial, technical, or human resources needed for success.
Example: If an R&D project faces unexpected delays, Atlas program managers advocate for the necessary resources or timeline adjustments while presenting solutions to mitigate impacts, ensuring leadership remains aligned with the portfolio’s needs.
2. Managing Down: Guiding Teams Toward Project Success
While managing up ensures alignment with leadership, managing down focuses on empowering the teams responsible for executing the work. Program and portfolio managers must act as leaders who guide, support, and manage the teams working on individual projects.
a. Clear Communication of Objectives and Priorities
Program managers serve as the link between executive strategies and the day-to-day execution of tasks. By clearly communicating objectives and setting priorities, they ensure that teams remain focused on the most critical aspects of each project.
Breaking Down Strategic Goals: Atlas’s program managers help teams understand how their work contributes to the larger organizational strategy, fostering a sense of purpose and ownership.
Delegation and Empowerment: Successful downward management involves delegating responsibilities while ensuring that teams are empowered to make decisions within their areas of expertise.
b. Removing Roadblocks and Offering Support
A key responsibility when managing down is to remove roadblocks that prevent teams from achieving their goals. Whether it’s securing additional resources, negotiating timelines, or clarifying priorities, program managers play an essential role in ensuring that teams can operate efficiently.
Hands-On Problem Solving: Atlas’s embedded program managers work closely with teams to address any challenges they face, providing hands-on support where needed.
Fostering a Collaborative Environment: Managing down also involves creating an environment where teams feel supported, motivated, and collaborative. Emotional intelligence plays a critical role here, as program managers need to be attuned to team dynamics and morale.
Example: An Atlas program manager working on a cross-functional R&D initiative regularly checks in with project teams to identify bottlenecks and offer solutions, whether through resource reallocation or improved communication between departments.
3. Managing Across: Bridging the Gaps Between Departments and Stakeholders
Beyond managing up and down, effective portfolio and program managers also need to manage across departments, functions, and stakeholders. This means building relationships and fostering collaboration between all the various teams and individuals who contribute to a project’s success.
a. Cross-Functional Collaboration and Communication
R&D portfolios often span multiple teams and departments, each with its own priorities, resources, and challenges. Managing across these teams is critical for maintaining alignment and ensuring smooth project execution.
Facilitating Communication Between Departments: Atlas’s program managers ensure that communication flows freely between departments, reducing the likelihood of silos and misalignment.
Aligning Stakeholder Interests: Different stakeholders—such as finance, marketing, and R&D—may have competing interests. Managing across involves aligning these interests with the portfolio’s overarching goals.
b. Resolving Conflicts and Managing Dependencies
Projects within a portfolio are rarely independent; they often rely on one another for success. Program managers need to actively manage these dependencies, ensuring that conflicts are resolved, and projects stay on track.
Managing Interdependencies: Atlas’s program managers map out dependencies across projects and work to mitigate risks that arise from delays or changes in one project affecting others.
Conflict Resolution: Disagreements between departments or teams can stall progress. Program managers with strong emotional intelligence can mediate conflicts and find mutually beneficial solutions, ensuring that portfolio objectives are met.
Example: An Atlas program manager overseeing a portfolio that includes R&D, marketing, and operations aligns these departments by facilitating regular cross-functional meetings, ensuring that marketing’s timelines are met while R&D remains focused on innovation without operational disruptions.
4. The Benefits of 360° Management in Portfolio and Program Management
The 360° management approach—managing up, down, and across—has numerous benefits that improve overall portfolio and program outcomes.
a. Improved Alignment and Decision-Making
When program managers are managing up, down, and across, they ensure that everyone involved in the portfolio—executives, project teams, and cross-functional stakeholders—are aligned with the strategic objectives, improving decision-making and resource allocation.
b. Increased Accountability and Performance
Effective 360° management increases accountability at all levels. When leaders and teams are in sync, it’s easier to track progress, measure performance, and ensure that everyone is working towards the same goals.
c. Enhanced Communication and Reduced Risk
By actively managing communication and relationships in all directions, program managers can proactively identify and mitigate risks, ensuring that projects stay on track and deliver results.
Example: A recent study of an R&D portfolio led by Atlas’s program managers saw a 20% reduction in project delays, thanks to better communication across departments and strong alignment with executive leadership.
Why 360° Management is Essential for Portfolio and Program Success
360° management—managing up, down, and across—is essential for any organization that wants to drive successful outcomes in complex portfolios. Atlas’s embedded program managers excel in managing all aspects of the project hierarchy, from aligning with senior leadership to supporting teams on the ground and fostering cross-functional collaboration.
Final Thought: By adopting a 360° management approach, organizations can ensure that every level of the project hierarchy is working in harmony, resulting in more successful projects, fewer risks, and a stronger overall portfolio.
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