Wihuri, a Finnish multi-industry conglomerate, exemplifies how a project portfolio can quickly deliver benefits when the new tool is implemented effectively. “In three months, the portfolio has completely changed the game.”
Within three months of the technical implementation, all projects and project ideas are in the portfolio, future projects have been portfolioed, and a roadmap view for development is being added, says Kalle Wahlström. Kalle is the head of Wihuri’s project office and the main user of the new project portfolio. He supports project managers by ensuring they have sufficient skills and necessary resources.
In the first phase, the portfolios were introduced in three industries: Wihuri Aviation, Metro wholesale and Technical trade.
Wihuri Group employs about 5,500 people across four industries. In the first phase, the idea and project portfolios have been adopted in three of our sectors (Wihuri Aviation, Metro wholesale and Technical trade). Later, the plan is to expand usage to their international packaging business.
Although staff training and tool deployment are still ongoing, many things have been done so well that the project portfolio has brought benefits within just a few months.
Technical implementation was not done with dummy data, but with real project data
The technical implementation of the tool was done in collaboration with Thinking Portfolio’s application consultants.
“The implementation went really well, I can’t ask for anything else. We didn’t use dummy data but real projects because why not? When new project initiatives came up, I immediately put them into the portfolio even during the demo period. All tweaks and refinements were done on real project data,” Kalle explains.
He was pleased that things weren’t reviewed field by field but rather he got to try using the portfolio as soon as the basic model was ready.
“I liked that I got to play around with the portfolio. It’s simple enough for even a beginner to grasp,” Kalle says, and he was also satisfied with the communication with Thinking Portfolio’s application consultants.
“I received all the information and I like that the communication isn’t stiff or ticket-based.”
Minimal changes needed post-implementation
The portfolio was made simple for the basic user, and now the main view only has two fields. Since the technical implementation of the portfolio, only small adjustments have been made to the platform.
“We have a very good foundation there, so it’s been just minor tweaking,” Kalle says. “Some project phases and decision gates have been adjusted to fit our style, and report views are being modified.”
Previously, Wihuri’s projects were monitored with PowerPoint presentations in steering groups, but these presentations lacked a unifying force. It was difficult to form a comprehensive understanding of what was happening or what was coming up.
“Now it’s quite easy to highlight different touchpoints, such as allocations, costs, or the strategic angle. The portfolio has revolutionized transparency in projects and development needs.”
Ideas pass through a funnel into projects
Along with the project portfolio came an idea portfolio. About fifty new ideas have emerged from users in a few months.
With the project portfolio, an idea portfolio was introduced, which Wihuri hadn’t had before. With the idea funnel, collecting development ideas and preparing them for decision-making has improved compared to before.
Every project that gets implemented has passed through the idea funnel and met the criteria defined in the idea portfolio. In the idea portfolio, the need for the project must be justified, a business case must be made, and the benefits the idea is expected to bring must be considered. During the idea portfolio phase, project ideas are prioritized, and only those projects that have already been decided to be implemented are transferred to the project portfolio.
“Anyone can look at the development idea process to see what ideas have been submitted and how they have been resolved,” Kalle explains. Users have submitted about fifty new ideas in just a few months.
Three tips for others considering a portfolio
Kalle offers a few tips for others in a similar situation as they were before, where transparency and a unifying tool for project information were lacking.
“I would start by thinking about what the development model and approach of your organization. Then it would be good to investigate existing tools to see if the current tools can provide such a comprehensive view of development,” Kalle says.
“Once the groundwork is done, it’s worth calling Esa Toivonen and adopting Thinking Portfolio,” he laughs. “The product is finished and cost-effective on top of that.”
Reporting on Wihuri’s portfolio management development:
Kalle Wahlström
Head of PMO
Wihuri Oy
Text: Tyyne Taunila, Marketing Specialist, Thinking Portfolio
