Portfolio Directors, but why?

Who are they?

Not to be confused with a consultant, the role of the Portfolio Director or Interim Director is here to stay.

Unlike a consultant who generally evaluates and recommends change, a Portfolio Director provides firms with a flexible, senior resource that works with and proactively identifies and evaluates problems, both providing  and executing the changes required from inside the organisation. 

So what is the benefit of bringing in an “outsider”?

Portfolio Directors are motivated and rewarded through intense, short periods of problem solving. They work within the firm but retain their independence and are therefore able to take a fresh look at a company’s problems and develop opportunities to leverage change. Firms can benefit hugely by engaging Portfolio Directors during periods of significant change, because of their expertise in managing transformational change, developing strategy and executing on-going operational requirements and long-term resource. Comparing day rates with a permanent salary is not a like-for-like calculation. The cost of direct employment adds around two thirds on top of basic pay. When engaging a Portfolio Director these costs disappear.

What qualities should firms look for?

• proven track record of delivery
• credible results at board level
• enterprising
•  understand real commercial risk and offer solutions to mitigate
• build trust and confidence with senior stakeholders
• high-speed learner

A Portfolio Director adds value by:

• problem solving problems
• contributing and adding value from the outset
• bring skills and experience not available in house
• being cost effective – SME’s can leverage expertise, and hire a Portfolio Director for a day(s) a week and leverage expertise at a fraction of the cost
• look objectively at problems
• being sensitive to the needs of all relevant stakeholders
• cost saving – projects are delivered more quickly/ efficiently/effectively saving the business money 

Overall the benefits to the organisation are that it can move forward faster than competitors and develop in a way that is optimised for business needs.