Before IT can transition to business technology (BT) and become an effective partner with the business, the two groups of leaders must completely rethink the way they plan and execute — and begin to act as one. Traditional portfolio management is a big step forward from project prioritization via spreadsheet, but too much of it remains reactive and tactical. Next-generation portfolio management brings transparency to strategic and operational planning and brings a Lean focus to prioritization so that companies can deliver the right work at the right time and employ the necessary talent and technology in a true partnership with business leaders. This helps application development and delivery leaders select and deliver the right value for BT investments at the right time.