Many teams handle technology planning and funding in a repetitive and inefficient manner, similar to the definition of insanity. This approach includes making substantial investments in long-term strategic plans that often change shortly after finalization, leading to a cumbersome process of estimates, approvals, and budgeting for each change. To end this madness, a shift towards people-centric financing is necessary, focusing on funding teams and products that deliver value. This approach involves providing long-term funding to teams organized around products and value streams, working towards common business-wide goals.
Three key principles enable successful implementation of people-centered planning: managing innovation, aligning technology with the business, and empowering teams. By decentralizing decision-making and funding teams consistently, organizations can improve efficiency, speed, and agility. Leaders need to trust their teams to make the right decisions and provide them with autonomy to adapt quickly and intelligently. Accountability is maintained through common metrics at the value stream level to guide teams in prioritizing and tracking progress.
People-centered planning removes the waste, inefficiency, and inflexibility of traditional funding approaches and aligns organizations around key business metrics. By empowering teams, providing consistent funding, and tracking the value they deliver, leaders can streamline governance and drive digital transformation. This approach allows for portfolio-level decisions at the beginning of the fiscal year and the elimination of funding for teams or products that no longer generate value based on defined metrics.
To learn more about people-centered planning and its benefits for your organization, please visit our People-centered planning page. Drive your digital transformation forward by leveraging VSM in Broadcom Value Stream Management Summit. Register now for valuable insights and strategies to enhance your technology planning and funding processes.
Article Source
https://www.cio.com/article/2508246/empowering-teams-with-people-centric-planning.html
