Why some succeed with their projects and others do not?

Presentation of new business development ideas provides the material for comprehensive description of the operational benefits of the business, financial requirements and risks associated with the new idea or project.

A large organization creates dozens of good ideas daily to develop the business. These organizations should be able to evaluate and explore in more detail and choose the best ideas to put in motion. The task is challenging; a lot of material needs to be understood quickly and effective ways to communicate through the organization need to be in place.

Portfolio management is one of the key benefits of visualization; to understand and quickly produce a summary of all the many good suggestions available. It can be compared to the “elephant test”; this term refers to situations in which an idea or thing is hard to describe, but instantly recognizable when spotted., as in the story of the six men who each identified a part of the elephant, but could not recognize the whole.

“The story of the blind men and the elephant originated in India, from where it is widely diffused. It has been used to illustrate a range of truths and fallacies. At various times it has provided insight into the relativity, opaqueness or inexpressible nature of truth, the behaviour of experts in fields where there is a deficit or inaccessibility of information, the need for communication, and respect for different perspectives” [Wikipedia 2011].

Overwhelming Project Portfolio Management approach and fine Business Case definition work could be the answer we are looking for. We have to draw the whole elephant before we are able to communicate our ideas about it.