Effective governance through Portfolio Management, Budgeting, Project and Resource Management
IT Portfolio Management helps IT executives establish effective governance over both strategy and execution. The key is increasing visibility and improving decision-making techniques while enabling a dynamic budgeting process to make it easier to realign expenditures.
A good way to deliver this is via a top-down and bottom-up solution which associates Portfolio Management with dynamic budgeting, project monitoring and resource management. To cut-down in implementation time while ensuring effective results, a web based solution specific to IT business issues is recommended. These solutions address key requirements including but not limited too:
- Recommended portfolio and IT processes.
- Cost and benefit structures.
- Typical investment categorization for analysis and prioritization.
- Standard investment life-cycle stages.
- Suggested user roles with security access rules .
- Pre-configured reports and scorecards based on industry standards and best practices.
IT Portfolio Management Benefits
Having a pre-defined solution approach, combined with a phased implementation, allows tangible benefits to be achieved in a short time frame. According to feed-back from our customers, these solutions are allowing IT organizations to achieve:
- Improved visibility and alignment of IT investments with the business strategy to better support the organization’s objectives.
- Common ownership of the investments between IT and the business through a standardized justification process.
- Improved accuracy and speed of budgeting process for better allocation of capital and resources.
- Better reaction and decisions in dealing with unplanned initiatives.
- Intelligent cost reduction by identifying IT investments and assets that bring insufficient value.
- Alignment of investment planning with execution to ensure benefits achievements.
Having a standard implementation approach including an assessment step designed to evaluate the specific needs also helps mitigate implementation risk, increase user adoption and deliver the expected business benefits faster.