Situation

Facing cost challenges and a traditionally decentralized operating model, a national media group needed to maximize value from its most strategic initiatives across a portfolio of 80+ local businesses.

The leadership team recognized there was a lack of consistency in evaluating/approving initiatives and mobilizing resources to the most impactful areas. The volume of division-led initiatives continued to grow steadily while resources remained heavily constrained.

To manage the daunting workload from dozens of strategic initiatives, the effort required building alignment between leadership with differing priorities, processes, and people.

Solution

• Collaborated with leadership to create a single Strategic Initiative Portfolio, ensuring alignment with organizational goals and objectives

• Created an Executive Dashboard, with at-a-glance reporting on initiative health, that kept everyone focused on the right areas

• Created new Strategic Initiative intake processes to reduce and prioritize initiatives, based on simple & consistent evaluation criteria

• Facilitated and coached the leadership team to run monthly “Strategic Portfolio Reviews” that drive improved visibility and more effective decision-making

Results

In 12 weeks, Blakely Partners delivered:

• A Strategic Initiative dashboard for practical and effective management of the overall portfolio

• Alignment on criteria for project prioritization and decision-making, based on value and risk drivers

• Streamlined governance and oversight of execution

• A properly balanced portfolio aligned with strategic objectives and the needs of day-to-day operations

• A 12-month roadmap for continuous improvement and maturity of the Strategic Initiative Portfolio and monthly reviews