How do you effectively manage project portfolios?

August 25 , 2024 by Mike Manazir – (4-5 minutes)

At Baxter’s Bricks, where every brick counts and every project matters, Rick Nelson, our indefatigable Chief Operating Officer, finds himself at the helm of an ever-growing portfolio of initiatives designed to make Baxter’s Bricks leaner, meaner, and more profitable than ever. But with great power comes great responsibility—or, in Rick’s case, an overflowing to-do list.

Rick’s day starts with a triple shot of espresso and a glance at the whiteboard in his office. What used to be a neat list of six or seven key projects has turned into a sprawling web of interconnected initiatives. From upgrading efficiency to rolling out new digital inventory systems, Rick’s plate is more loaded than a brick-laden truck.

It’s not just the volume that’s daunting—it’s the complexity. Every project demands resources, attention, and, most importantly, alignment with Baxter’s strategic goals. And with CEO Sarah Thompson keenly focused on driving the company forward, Rick knows he has to deliver—not just on one or two projects but on the entire portfolio.

The other important thing that Rick realized is that with limited resources (one never has unlimited resources), he had to examine the priority of each project and continue to evaluate the assumptions under the strategy that created the project in the first place. He might even decide to abandon a project in favor of a new micro strategy. Rick knew it was important to be agile and always question assumptions.

When Rick took the COO role, Sarah made it clear that her job was to provide guidance and remove barriers, not to hover over every decision. In a recent one-on-one, Sarah leaned back in her chair, listening as Rick outlined the latest challenges. “Rick, I trust your judgment,” she said. “You’ve got the vision. My role is to clear the path for you. What obstacles are in your way right now?”

Rick appreciated Sarah’s approach. It was the kind of leadership that empowered rather than constrained. “Honestly, the biggest challenge is aligning all these projects without overextending our resources,” Rick admitted. “I’ve got great teams, but we’re stretched thin.”

Sarah nodded thoughtfully. “Let’s bring in some additional support on the resource planning side. And remember, it’s okay to push back on deadlines if it means delivering quality. Prioritize what matters most and let me know if anything else comes up that I can help with.”

Rick left the meeting energized. He knew he had the support to make tough decisions—and the freedom to do what he did best, lead. Back at his desk, Rick turned his attention to the weekly project review. One of his direct reports, Laura, was leading the digital inventory overhaul—a critical project but one that had hit a few snags.

“Laura, how’s it going with the new system?” Rick asked during their check-in. “We’ve run into a few integration issues with the existing software,” Laura replied, frustration evident in her voice. “It’s slowing us down.” Rick could see the stress on her face. “Listen, Laura, you’re doing a great job managing this. Let’s not get bogged down. What do you need from me to keep things moving?”

Laura hesitated. “Honestly, we could use some additional IT support to troubleshoot these problems faster.” “Consider it done,” Rick said without missing a beat. “I’ll talk to IT and make sure you get the resources you need. Focus on keeping your team moving forward, and let me handle the roadblocks.” Laura’s relief was palpable. “Thanks, Rick. That would make a huge difference.”

Rick knew that his role, much like Sarah’s, was to empower his team by removing obstacles—not by micromanaging. He’d learned from the best, and it was paying off. Managing this expanding portfolio isn’t just about checking boxes. It’s about making smart, strategic decisions that push Baxter’s Bricks to fulfill its vision. And it’s about trusting your team, just as Sarah trusts Rick, and Rick trusts his managers.

Rick’s job is a balancing act, and like any good performer, he knows the importance of timing, precision, and focus. He’s got the wisdom to prioritize, the courage to make tough calls, and the vision to see how today’s projects will build tomorrow’s success.

In a recent team meeting, Rick shared a nugget of wisdom that’s stuck with everyone managing projects is like building a wall. Each brick—each project—has to be set with care and purpose. But it’s not just about laying bricks. It’s about building something that will stand the test of time.

With Sarah’s guidance and Rick’s leadership, Baxter’s Bricks is not just managing projects; it’s building a future as solid as, well, bricks.

“It doesn’t make sense to hire smart people and then tell them what to do;
we hire smart people so they can tell us what to do. .

Steve Jobs

Lead from your heart. Lead to Win.

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