#65: Unlocking Lean Portfolio Management with Randy Hale

Join Brian and his guest Randy Hale as they delve into the world of Lean Portfolio Management to drive Agile transformations and make informed decisions for greater business success. Overview In this episode of the Agile Mentors Podcast, Brian sits down with Agile Transformation Coach Randy Hale to discuss Lean Portfolio Management. Listen in as they explore strategies for navigating organizational culture, redefining metrics, and addressing uncertainty to make informed business decisions and drive successful Agile transformations. Listen Now to Discover: [01:18] - Brian Milner welcomes Randy Hale of Agile Velocity to the Agile Mentors podcast to discuss Lean Portfolio Management. [02:40] - Randy shares the definition of Lean Portfolio Management. [04:07] - The first steps to implement Lean Portfolio Management. [06:41] - How to engage finance and accounting teams in the conversations and emphasize optimizing value delivery. [09:35] - What's broken with traditional budgeting? [10:15] - How Lean Portfolio Management helps organizations more easily align with customer needs and adapt to swiftly changing market conditions. [11:56] - Why traditional budgeting processes often lead to delays in responding to unexpected changes. [14:15] - How cultural factors can hinder an organization's adaptation to changing circumstances. [14:30] - Mountain Goat Software has designed the best training to help you stand out in the market. With live interactive courses and a mixture of lecture time and frequent breakout rooms to keep you engaged every second you're learning. All their courses are designed to give you the skills that agile teams and organizations value. For more information and the class schedule visit Mountain Goat Software today. [16:19] - The key components in Lean Portfolio Management. [18:34] - The value of early detection for proactive responses. [19:31] - Randy discusses the impact of organizational culture on transformation efforts and the importance of adapting processes within a compliance-based culture. [21:26] - Brian and Randy discuss the challenge of selecting meaningful metrics for effective decision-making. [24:48] - Randy highlights the importance of addressing uncertainty and focusing on critical factors using a scenario where a projected $5 million in revenue failed to meet expectations due to unvalidated assumptions. [25:21] - Brian discusses the common-sense principle that the further you are from a future event, the less precise your predictions can be. [26:29] - The million-dollar point of the conversation. [27:01] - The default way of tracking things that is disconnected from reality and the real value of what you deliver. [28:57] - You can connect with Randy at Agile Velocity or via LinkedIn. [30:32] - Don’t forget to subscribe to the Agile Mentors Podcast on Apple Podcasts. If you have feedback or ideas for the show, just email [email protected]. [31:04] - For further discussion about Lean Portfolio Management or any other topic on the Agile Mentors Podcast join the Agile Mentors Community. References and resources mentioned in the show: Certified Scrum Master Training and Scrum Certification Certified Scrum Product Owner Training Advanced Certified ScrumMaster® Advanced Certified Scrum Product Owner® Mountain Goat Software Certified Scrum and Agile Training Schedule Join the Agile Mentors Community Subscribe to the Agile Mentors Podcast on Apple Podcasts #17: Getting There From Here: Agile Transformations with David Hawks Want to get involved? This show is designed for you, and we’d love your input. Enjoyed what you heard today? Please leave a rating and a review. It really helps, and we read every single one. Got an Agile subject you’d like us to discuss or a question that needs an answer? Share your thoughts with us at [email protected] This episode’s presenters are: Brian Milner is SVP of coaching and training at Mountain Goat Software. He's passionate about making a difference in people's day-to-day work, influenced by his own experience of transitioning to Scrum and seeing improvements in work/life balance, honesty, respect, and the quality of work. Randy Hale is an Agile Transformation Coach with over a decade of experience guiding companies through Agile transformations. Randy's hands-on knowledge and training have helped businesses of all sizes embrace Agile and Lean thinking for greater success including Fortune 500 companies like Nike, Petco, and Charter Communications.