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The alignment of work with business strategy is essential for effective prioritization in Lean Portfolio Management because it ensures that the initiatives and projects undertaken directly contribute to the overall goals and objectives of the organization. By aligning projects with business strategy, decision-makers can prioritize resources and efforts toward those initiatives that deliver the most value and support the strategic direction of the organization.

When work is aligned with business strategy, it facilitates better decision-making processes, enabling leaders to focus on activities that promote growth, innovation, and competitive advantage. This approach fosters a culture of value delivery, where the outcomes of investments can be assessed against strategic goals, ensuring that resources are utilized efficiently and effectively.

In contrast, seeking approval from all stakeholders can lead to delays and potential conflicts, as differing opinions may hinder progress. Maximizing resource allocation without regard for outcomes can result in wasted efforts on low-value projects. Similarly, detailed financial projections, while valuable, may not capture the strategic relevance of a project, making alignment with business strategy a more critical component for prioritization.