Achieving strategic goals through a prioritized project portfolio

The challenge

A large Medicaid health plan wanted to align their corporate initiatives to their strategic goals and operating plans across multiple business entities including five health plans, a pharmacy benefit manager, and a care management company. They wanted to implement a prioritization program that balanced the needs of each individual business unit with overall company objectives. They also wanted to define the assessment and decision making processes for future investments. Finally, they sought an integrated process to manage the variety of requests coming into the centralized PMO and IT departments.

Our approach

Vynamic developed a framework for executing the Public Health plan’s corporate strategy that consistently evaluated proposed initiatives through a prioritization approach that incorporated a scorecard and high-level cost/benefit analysis. The scorecard that Vynamic developed reviewed each proposed initiative against both tangible and intangible factors. Each potential project was scored based on alignment with strategic goals, as well as contribution to key value drivers.

The results

Our Public Health customer now has a consistent framework and process to evaluate corporate initiatives against strategic goals and operational plans.

Some specific results achieved include:

• Creation of an integrated portfolio management process that accounts for corporate initiatives
• Establishment of a prioritized project portfolio for annual portfolio planning
• Elimination of duplicate investments by integrating all requests in the prioritization process