Regular updates about customer demands and
competitive o;erings in their sectors can help portfolio managers make better decisions, Ms. Chang
says. If a portfolio manager learns that a competitor has just launched a product similar to one that
his or her organization has in development, for
example, he or she can tap contingency resources
and work to recover or speed up the project.
“You have to ask, Do we need to rush it out or can
we adjust the project so that it has a di;erent scope
or value?” she says. “;at’s the degree of ;exibility
you need to have.”
Sometimes, changing priorities can put ongo-
ing projects on the shelf. However, shutting down
an initiative immediately can lead to ine;ciencies
and wasted work. ;at’s why a phased approach is
“When you start an initiative, you have to have left yourself
enough room on the resource and execution perspective so
you have the leeway to change gears.”
—Marion Chang, PMP, Sun Life Financial, Kitchener, Ontario, Canada
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