Portfolio management is the process of identifying, collecting and curating training resources in alignment with business goals. After over a decade of research, Training Industry, Inc. identified portfolio management as one of the key process capabilities of great training organizations.
There are three steps for effective portfolio management:
1. Identify Business Needs
Successful portfolio management starts with assessing current and future business needs. Conducting regular needs assessments, having conversations with stakeholders, and staying up to date on industry best practices and trends will help you identify training needs across the business.
2. Strategically Assess Your Portfolio
Next, strategically assess your portfolio against your organization’s most pressing business needs so that you can add, update and/or retire courses accordingly. This process ensures that each course in your portfolio is strategically aligned with a key business goal. Training Industry’s Portfolio Rationalization Model supports this process.
3. Adapt When Necessary
As business needs shift, training managers must be agile in developing and delivering learning solutions quickly and effectively. Adapting your portfolio as priorities change will keep the training function strategically aligned with the business’ most pressing needs.
This three-step process will help you efficiently and effectively manage your training portfolio to ensure that all learning initiatives are up to date and, most importantly, driving business impact.