What Is Project Portfolio Management

Portfolio Management is making sure that you optimize the revenue potential while keeping as low as possible on resource usage.

Project Portfolio Management makes it possible to use your IT as an assessment. It facilitates:

• Planning;
• Controlling;
• Managing;
• Reporting.

To be able to perform it properly you need:

• A solid approach;
• Skilled people;
• Tooling.

Business Service Management

As part of IT Governance you also should look into Business Service Management. Aspects are:

• Business Service Manager.
  • Operation: time to process;
  • Processing backlog volume;
  • State of business service;
  • Business transaction volume.
• IT Service Manager.
  • Service availability;
  • Incident closure rate;
  • Frequency of changes.
• IT Infrastructure Manager.
  • Server availability;
  • CPU utilization;
  • Disk space.

The Functions of Portfolio Management

Core functions of Portfolio Management are:

• Time management;
• Resource management;
• Cost management.

Supplemental functions of Portfolio Management are:

• Scope management;
• Procurement management;
• Communication management;
• Risk management;
• Quality management;
• Metrics;
• Integration management.

Forrester identifies 3 main levels of IT demand: