Service Portfolio Management (SPM)

For quite some time, the term “Portfolio Management” has been in the exclusive domain of project managers and mostly discussed in terms of “project and portfolio management” (PPM) and often managed by an organization’s Project Management Office (PMO). This was a positive step in the right direction and enabled CIOs and management to view, manage, and prioritize their project portfolio much like investors manage an investment portfolio. What’s missing? Well, projects are just one type of asset in your overall portfolio. Much like your personal investment portfolio might include Cash, stocks, bonds, mutual funds, CDs, etc. your portfolio consists of numerous other assets such as:

  • Applications

  • Infrastructure

  • On-demand services

  • Ongoing operational support services.

These assets can also be further broken down into those that are “live,” those that are “in development,” or those that are “retired.”

Beyond these categorizations, there are numerous attributes that can be assigned to each asset, providing more meaningful context to each. For example, for each application:

  • How many users?

  • What is the criticality to the business?

  • Is the application revenue, regulatory, or customer affecting?

  • What’s the budget impact of the service?

Proper Service Portfolio Management involves correctly documenting and classifying your assets into the right portfolios and with understandable and clear attributes. By doing this, you can answer key questions that management might ask, such as:

  • What are our top 5 applications in terms of criticality to the business?

  • What are our top 5 applications in terms of cost?

  • Which applications or infrastructure are least used and are candidates for consolidation or elimination?

  • Which applications or infrastructure will affect our revenue, regulatory, or customer perception if there’s a problem?

Furthermore, proper Service Portfolio Management (SPM) aims to empower you to not only to meaningfully collect this information, but to actively manage the information and keep it up to date. Even more, it aims to provide, in real-time, the status of your portfolio and its performance much like a hedge fund manager would view real-time performance dashboards to make key investment and trading decisions.

PMG SCS contains the most advanced, yet easy to use and configure, SPM features on the market today. Users can evolve from simple to advanced SPM with ease at their own pace and improve process maturity over time.

 

Contact us today for more information,