Establishing New Tools and Processes for Portfolio Management
A rapidly expanding medical device company outgrew its portfolio management processes. Numerof defined new approaches that helped our client articulate clear priorities, reconcile regional and global needs, and retain market leadership.
- This medical device company saw enormous success as it grew rapidly from a one-product company to a diversified global giant.
- As the company grew, the complexity of its pipeline, markets, and portfolio increased exponentially. Existing portfolio management and decision-making processes could not keep pace.
- As a result, the organization found it difficult to reconcile regional and global needs, determine clear priorities for product development, and define the strategically vital technological capabilities that would allow it to retain market leadership.
- Following an initial assessment of the current situation and future requirements, Numerof developed tools and processes for evaluating opportunities and risks in the context of the strategic plan.
- Included among this set of tools were decision criteria, frameworks and processes for gathering and analyzing relevant data, and metrics to aid assessment of opportunities for strategic fit.
- Throughout the project and support of rollout, Numerof engaged key stakeholders to ensure buy-in and effective implementation.
- We also identified opportunities to enhance strategic planning efforts, ensuring that critical questions relevant to portfolio management would be addressed.
- Numerof’s robust set of portfolio management processes and tools have guided the organization to: define new growth platforms; prioritize and evaluate support levels for pipeline and in-market products; deliver long-term guidance to R&D; and manage a global portfolio of products in a way that reflects the strategic imperatives of the organization.
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