What is Lean Portfolio Management Certification All About?

Having a collaborative venture improvement strategy is prime for a corporation’s well being, path, and influence. And this is the reason Scaled Agile Framework has gained a lot prominence lately. SAFe requires higher collaboration and alignment between Agile groups to ship sooner product updates. It additionally pinpoints flaws and creates higher alternatives for workflow enchancment.

Nonetheless, funding planning and gaining end-to-end visibility are nonetheless difficult for many SAFe organizations.

That is the place Lean Portfolio administration is available in.

This text will focus on the aims of Lean Portfolio Administration, what you’ll achieve from the certification, and the way it will influence your profession.

What’s the main focus of Lean Portfolio Administration (LMP)?
Even after the implementation of Agility, organizations undergo from elevated improvement prices and a scarcity of cross-team visibility. One of many methods to resolve this drawback is to use lean rules to hyperlink Agile improvement with enterprise technique.

Lean Portfolio Administration talks in-depth about growing the group’s capability to plan, and execute its improvement initiatives, enabling them to ship product updates sooner and enhance enterprise outcomes. It helps corporations prioritize high-value work first and search for areas with essentially the most alternative.

Listed below are the three important aims of Lean Portfolio Administration:

Maximize worth output: The framework goals to handle the backlog of investments and analyze the work-in-process of initiatives throughout groups to boost venture supply.
Forestall bottlenecks: Utilizing portfolio budgets, you may steadiness the funding capability with demand to leverage high-value alternatives.
Set up good servant management: LPM instruments and pointers may help organizations facilitate higher collaboration to maintain supply cycle occasions low.
So how does this occur? To grasp that, let’s evaluate the three dimensions of Lean Portfolio Administration:

Technique and funding funding
This dimension tells corporations to spend money on work with the very best worth. It consists of making a portfolio with an in depth activity checklist that meets enterprise worth and ROI, making certain that organizations develop options that clients want and efficiently drive the prices down.

It requires enterprise executives, portfolio stakeholders, and venture managers to collaborate and execute the next obligations:

Join the portfolio to enterprise technique
Preserve a portfolio imaginative and prescient
Notice portfolio imaginative and prescient by epics
Set up Lean budgets and guardrails
Set up portfolio circulate
Agile portfolio operations
Right here, the group creates guardrails for funding processes and insurance policies. It consists of organizing quarterly conferences to make sure that all high-value priorities are well-funded so there may be most worth realization.

Let’s evaluate what Agile portfolio operations contain:

Coordinating worth streams
Assist program execution
Foster operational excellence
Lean governance
It helps SAFe organizations handle spending, audit, compliance, and forecasting bills. It entails all portfolio stakeholders actively participating in:

Forecasting and budgeting dynamically
Measuring portfolio efficiency
Coordinating steady compliance
Doing this helps worth stream leaders use their capability and finances to optimize and obtain deliverables.

How is LPM completely different from different venture portfolio frameworks?
There was a heated dialogue on how LPM differs from different venture portfolio frameworks. Whereas most frameworks give attention to defining the specified amount of outputs, LPM is extra involved with high quality outcomes. For higher readability, let’s do a fast comparability:

Scope Conventional Portfolio Administration Framework Lean Portfolio Administration
Venture deliverables The work is assigned to the group by these in management positions. Agile groups outline work.
Budgeting Prime-down strategy in the direction of budgeting. Portfolio managers determine and allocate the finances. Utilizing participatory budgeting the place stakeholders collaborate and construct consensus to allocate portfolio finances to particular person worth streams.
Efficiency evaluate Annual evaluate of budgets and funds primarily based on the completion of duties. Quarterly evaluate of finances and funds primarily based on supply of buyer worth.
Elimination of bottlenecks Restricted as data sharing is restricted Work-in-progress is frequently forecasted, monitored, and adjusted. Participatory discussions improve information-sharing between leaders and cross-functional groups.
How can Lean Portfolio Administration Certification supercharge your profession?
Let’s evaluate how buying a Lean Portfolio Certification can speed up profession development:

Take your SAFe data to the following stage
If you’re a SAFe skilled who needs to achieve a management place, getting LPM licensed can unlock higher profession alternatives.

With a SAFe LPM strategy, you may collaborate throughout silos, empower groups, and manage round worth. This showcases your management expertise and helps you turn out to be an asset within the office. You possibly can reveal your data and handle a number of portfolios, enabling employers to take discover of your work.

Research present that 74% of workers really feel they aren’t reaching their full potential at work. Enhancing your skillset may help you thrive in an Agile surroundings and sort out bottlenecks.

LPM professionals earn excessive salaries
Based on latest studies, LPM managers can earn as much as $167,326 per yr. Additionally, salaries for knowledgeable professionals may even go greater. So if you’re caught in a profession rut, Lean Portfolio Administration certification is one of the simplest ways to maneuver ahead.

Key components of Lean Portfolio Administration Certification
This certification goals to assist Venture Managers, Agile Coaches, Launch Prepare Engineers, and different professionals to develop an in-depth understanding of the framework and get outfitted with instruments and methods to implement LPM capabilities.

Prime 3 issues you’ll be taught from an LPM certification:
Outline LPM capabilities and use in-demand instruments for higher worth maximization
Align strategic portfolio execution with enterprise outcomes
Construct a plan for LPM implementation, coordinate worth streams, and measure LPM efficiency
Steps it is advisable observe to realize the certification:
Securing Lean Portfolio Administration Certification requires you to observe three important steps. Let’s focus on them under:

Enroll in a coaching program
The very first thing is getting your self enrolled in a reputed LPM coaching program. It would aid you achieve a basic understanding of the framework. Getting aware of advanced ideas and gathering insights about instruments, methods, and trade practices from specialists may help you develop a skillset to implement Lean-Agile Portfolio Administration with ease.

Additionally, SAFe requires attendees to compulsorily take a 16-hour coaching from a certified coaching companion to take the examination.

Put together for the examination
After finishing your 16-hour coaching program, you’ll obtain the credentials straight from Scaled Agile together with the data it is advisable ace your SAFe Lean Portfolio Administration examination.

You possibly can log in and research the examination particulars, together with the examination format, period, and retake coverage. You possibly can search the assistance of your coaching companion to make sure that you don’t miss out on particulars.

Hold refreshing your data and join with the SAFe neighborhood
Gaining your Lean Portfolio Administration certification unlocks alternatives to attach with the rising neighborhood of SAFe practitioners. After securing your certification, you may hold refreshing your data by creating skilled relationships with fellow practitioners and studying useful sources from Scaled Agile.

Aspire for a greater profession with our immersive LPM coaching program!
As a certified companion of Scaled Agile, we provide a Lean Portfolio Administration coaching program that delivers an interactive and interesting studying expertise from essentially the most skilled agile trainers worldwide. Our 2-day program supplies hands-on expertise by numerous group studying and simulation workout routines.

With our LPM coaching, you’ll:-

get skilled by the trade’s most skilled trainers
be taught with sensible case research, group actions, and simulations
discover higher profession alternatives and increase your management expertise
join and collaborate with international SAFe specialists
Register right here and get thrilling provides that may aid you save as much as $650.