Demand management should be taken into account when building your portfolio management strategy.
Demand Management should be assigned as a clear responsibility to a specific team. Demand management is the process to internally collect new ideas, projects, and needs while creating the portfolio. This collection is usually done internally. However, you might also consider the external market situation and the general strategy of the enterprise. In a “perfect scenario,” all the new proposals emerge in alignment with the initial strategy. From time to time, demand management includes a critical evaluation of the ongoing projects and portfolios (for example, projects started in the previous portfolio and not yet completed). Demand management is successful when the final result is useful in day-to-day prioritization.
Demand management enables the support of the portfolio definition, as well as produce a list of new projects to be assessed, prioritized, and concurrently taken into work with ongoing components. Demand management is an opportunity, a harvesting activity. It is also a selection model that helps pick only the beneficial set of projects aligned with the strategic objectives.
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