Executive Steering Committee

Purpose

The Strategic Portfolio Management Board (SPMB) is a governance body responsible for overseeing and aligning the organisation's portfolio of products and initiatives with its strategic objectives. The primary purpose of the SPMB is to ensure that all products and initiatives contribute effectively to the organisation's goals, deliver maximum value, and utilize resources efficiently. This board plays a critical role in strategic decision-making, prioritization, and resource allocation, ensuring that the organisation remains agile and responsive to changing market conditions and internal priorities.

• Ensure that all products and initiatives are aligned with the organisation's long-term strategic objectives and goals.
• Regularly review and adjust the portfolio to reflect changes in strategic direction or market conditions.

• Identify, assess, and manage risks across the product portfolio.
• Implement risk mitigation strategies to address potential challenges and ensure project success.

• Monitor the progress and performance of products and initiatives within the portfolio.
• Ensure transparent reporting and communication of portfolio status to senior leadership and stakeholders.

• Foster a culture of continuous improvement by regularly evaluating the portfolio management process and incorporating feedback.
• Implement best practices and innovative approaches to enhance portfolio management effectiveness.

Attendees

• CTO
• CFO
• President Energy
• President MEAA

Input

• Output from Product Discovery
• Business Model Canvas (minimum: cost, ROI)

Outcome

• Approval of New Product / Feature
• Prioritization if there is conflicting delivery priorities
• New Project / Feature added to Strategic Roadmap
• Delivery Progress

Responsibilities

• Make informed decisions on product initiation, continuation, or termination based on strategic priorities and performance metrics.
• Approve and prioritize new products and initiatives.

• Conduct regular portfolio reviews to assess product alignment, performance, and resource utilization.
• Adjust the portfolio as needed to respond to changes in strategy, market conditions, or organisational needs.

• Engage with key stakeholders, including senior leadership, product owners, and tech directors, to ensure alignment and buy-in.
• Communicate portfolio decisions, status updates, and performance metrics effectively.

• Address resource constraints within teams and conflicts to ensure optimal utilization.

• Establish and enforce governance frameworks, policies, and procedures for portfolio management.
• Ensure compliance with organisational standards, regulations, and best practices.

Related role

See the related Executive Steering Committee Member role page for individual responsibilities and decision rights.