Forrester Wave™ Confirms: Broadcom ValueOps Leads, Winmill PPM Implements with Excellence

Today's organizations are navigating unprecedented complexity, competition, and rapid change. A traditional, siloed, project-focused planning approach can no longer meet the demands of this evolving landscape. Now, the focus is not solely on producing deliverables and specific outputs but on achieving desired outcomes that align with strategic objectives. A dynamic, outcome-driven approach that promises continuous improvement has become a priority for every organization.

Fortunately, SPM tools have advanced capabilities that empower organizations to drive strategic goals and achieve impactful results. These tools integrate cross-functional data, foster collaboration, and leverage AI/ML, providing the foundation for accelerating strategy development and enhancing overall portfolio performance.

Turbocharged SPMs in 2024 - Where Does Broadcom's ValueOps Stand among the Competition?

As one of North America's leading SPM implementation experts, Winmill specializes in extracting the maximum value from Gartner's highest-rated Broadcom SPM solutions. Broadcom's ValueOps stands out as a leading SPM tool, perfectly meeting organizations' demands for agility, value-driven strategies, and strategic alignment. Winmill's implementation services successfully address these needs, helping organizations enhance their strategic alignment, upgrade resource management, and leverage advanced AI (Artificial Intelligence) capabilities for improved decision-making.

However, the market is flooded with diverse SPM solutions that constantly evolve and equip themselves with better functionalities, including AI and machine learning. With so many advanced options competing closely with ValueOps, the question remains: Where exactly does Broadcom's ValueOps rank compared to other SPM tools? Analyst firm Forrester provides the answer in their extensive and in-depth 22-criterion SPM evaluation report.

Forrester Wave™ SPM Tools Q2 2024: Broadcom Voted Strategic Powerhouse among SPM Leaders

In their in-depth 22-criterion evaluation of 12 popular strategic portfolio management (SPM) tool providers, Broadcom dominates as a leader in SPM and emerges as a strategic powerhouse for robust portfolio management.

So, how did Broadcom ValueOps rise above the rest in the Forrester Wave's objective evaluation? This blog will extensively evaluate Forrester Wave's Strategic Portfolio Management Tools, Q2 2024. We will explore the 22 trusted and established criteria used to assess various SPM solutions, how Broadcom stacks up, and what makes it an ideal fit for today's organizations aiming to be agile, value-driven, and strategically focused.

Let us jump right in:

Understanding the Forrester Wave™ Evaluation Criteria for SPM:

Forrester identifies the leading vendors through a rigorous selection process based on a well-defined methodology.

Shortlisting the Best: Vendor Selection Criteria

Here is what gets a vendor shortlisted for the Forrester Wave™ in the SPM space:

• Core SPM Functionality: The vendor must offer at least half of the core features outlined in the associated landscape report. This includes essential functionalities like strategy development, goal setting, business architecture, agile planning, and core portfolio management tools.
• Proven Track Record: The vendor needs to demonstrate successful implementations with at least three enterprise clients who utilize the core capabilities and integrate the solution with other enterprise and delivery tools.
• Substantial Client Base: A significant user base is crucial. The vendor must have at least 30 enterprise clients with over 1,000 users.
• High Demand: The vendor should generate strong client interest, as evidenced by high inquiries and participation in guidance sessions.

Note: The Forrester Wave™ is not an exhaustive list of every SPM vendor but an assessment highlighting the market's top players.

Vendor Categorization:

After selection, vendors are categorized into four groups: Leaders, Strong Performers, Contenders, and Challengers. This categorization is based on their performance in three key areas:

1. Current Offering (Vertical Axis): Optimization Capabilities, Data and Analytics, Performance Management, Integration, Security, and Developer Tools are categorized under Current Offering, with specific weightage given to each one. Current Offering forms the vertical axis of the Forrester graph. The cumulative weightage of each functionality is quantified, and each vendor's position on the Forrester Wave graphic's vertical axis indicates its current offering's strength.

2. Strategy (Horizontal Axis): Vision and Innovation, Roadmap, Partner Ecosystem, Adoption Rates, Pricing Flexibility, and Transparency are categorized in the Strategy section on the horizontal axis. The cumulative weighting of each functionality indicates the strength of the vendors' strategies.

3. Market Presence (Market Size): The size of each vendor's marker on the graph reflects its market presence, measured by factors like revenue and customer base.

Decoding The Results - Forrester Wave™: Strategic Portfolio Management Tools 2024

Each functionality was rated on a scale from 0 (weak) to 5 (strong) and assigned specific weights under Current Offering and Strategy.

Broadcom excelled across all functionalities, notably achieving a perfect score of 5 in several key areas, surpassing all other vendors in the roster:

Broadcom also achieved high scores in total cumulative weights across key Strategy and Current Offerings categories, particularly dominating the Strategy section and outperforming all other vendors.

Consolidated Performance Across All Categories: The Forrester Wave™ Graph

Forrester consolidates performance data across all categories to visually represent the vendors' positions regarding their performance.

The X-axis represents the strength of the strategy, and the Y-axis represents current offerings, quantifying vendor positions. Vendors to the right have more robust strategies, while higher-ups offer more substantial current offerings. The graph is divided into four quadrants:

1. Leaders (Top Right): Excel in both Current Offerings and Strategy.

2. Strong Performers (Top Left): Strong current offerings but possibly weaker strategies.

3. Contenders (Bottom Left): Weaknesses in both current offerings and strategy.

The rigorous 22-criterion evaluation of Strategic Portfolio Management (SPM) tools by Forrester Wave™ has positioned Broadcom as the leader in the field. This evaluation signifies Broadcom's dominance in both current offerings and strength of strategy. The study categorically proves that Broadcom delivers robust SPM solutions today and boasts a clear vision and roadmap to stay ahead of the curve.

However, the study also illuminates why Broadcom is the ideal SPM solution for organizations aiming to be more agile and shift towards a continuous, outcome-driven approach that aligns with strategic objectives.

From Forrester Study: Why is Broadcom's ValueOps ideal for organizations striving to be agile, value-driven, and strategically focused?

By evaluating all the essential functionalities, both operational and strategic, the Forrester study sheds light on the USPs, strengths, and opportunities that distinguish Broadcom as an SPM leader and an ideal fit for today's organizations:

• Enhanced Strategic Alignment: Broadcom seamlessly integrates SPM into its ValueOps strategy, ensuring clear alignment with the organization’s broader strategic goals.

• Simplified Agile Planning: Broadcom eliminates complex PPM (Project and Portfolio Management) planning rules and enables organizations to prioritize investments and capacity freely, regardless of project delivery methods.

This facility frees them up and provides greater flexibility and agility in their planning processes, allowing them to adapt their plans to evolving project requirements and achieve their strategic objectives.

• Upgraded Resource Management: Broadcom's system improves resource management by identifying relationships, displaying allocations, and visualizing dependencies.

• Evolving AI Capabilities: Broadcom harnesses its AI capabilities to offer a significant advantage in improving alignment, resource planning, budgeting, decision-making, and portfolio management processes.

The Forrester study documents the above USPs and strengths, perfectly ticking all the boxes we have discussed in this blog.

Broadcom’s ValueOps outperformed most popular vendors despite the competitive market size, shining through operational functionality and perfectly topping the strategic landscape.

This extensive Forrester study recognizes Broadcom ValueOps as the ideal SPM solution for businesses looking to enhance their strategic planning capabilities or undergo ambitious agile transformations.

However, the key to success lies in its implementation—a tool is only as effective as one's ability to use it.

An Unmatched Choice: ValueOps Implementation by Winmill

Even the world's most potent and advanced software system may seem inefficient if people lack the right implementation strategy and support.

As the strategic and implementation partner for Broadcom, longer than any other in the world, Winmill provides the best possible implementation services that deliver exceptional value.

From comprehensive organizational maturity assessments to the development of an SPM roadmap, we apply best practices supported by the right people, processes, and technology. A Broadcom Expert Advantage Partner and Tier 1 Reseller, Winmill was also awarded "An Enterprise Software Partner of the Year" by Broadcom for its exceptional implementation services.

So, whether you are looking to implement SPM for the first time, aiming to upgrade, or need assistance with implementation, our Winmill team is here to support you every step of the way. You can contact us here: https://ppm.winmill.com/