Integrate IT Service Management and IT Portfolio Management<span class="wtr-time-wrap after-title"><span class="wtr-time-number">4</span> min read</span>

Integrate IT Service Management and IT Portfolio Management4 min read

The value of IT Service Management (ITSM) is clear: thousands of organizations, including 85% of the Fortune 500, are successfully using ITSM to improve efficiency, effectiveness, control, and insight while improving customer experience and satisfaction.  Barely on the radar even a decade ago, the idea of leveraging best practices in the enterprise IT environment to manage and measure incidents, change requests, service levels, and risks, is today an almost universal objective of IT Operations.  Yet while ITSM is about ensuring that IT Operations can help the business achieve its key priorities – growth, profitability, customer experience – it is inherently limited to delivery of IT solutions rather than development, alignment to business processes or setting priorities.It is time to extend the benefits of ITSM to the entire IT environment. 

By integrating new or existing ITSM solutions with Cloudbyz IT Portfolio Management (ITPM) organizations can bring the power of ITSM to the entire landscape.  ITPM is the only integrated Project Portfolio solution, featuring fully integrated Project Portfolio Management, Application Lifecycle Management, and Application Portfolio Management capabilities, built and hosted on Salesforce1 for real time, 360˚ views.

When combined with any of the leading ITSM solutions – Remedy, ServiceNow, CA, HP – ITPM leverages the strengths of both types to provide unprecedented levels of insight and actionable information.  ITPM features:

Demand Management
A solid project intake process structures work and project requests in an organized fashion. Manage and prioritize demand from budget and resource availability. Transparency into all work activities– Automate approval processes– Compare cost and value of services.

Project Prioritization and Selection
Projects are categorized as Run, Grow, or Transform based on strategic impact. Run projects are core IT Operations. Grow projects enhance existing capabilities. Transform projects are those that deliver new core functionality that provide an advantage to an organization.

Financial Management
Key capabilities– Measure labor costs, provide investment management solutions. solutions including Asset Management and Financial Planning and Analysis. Govern IT spend through secure, automated checkpoints and approvals– Easily consolidate and analyze costs.

Business Case Management
Minimizes your portfolio definition efforts by providing you with standard metrics for evaluating investments, including NPV, ROI, risk, break-even, role capacity and demand, planned cost and planned benefit.

Portfolio Investment Management
Gain early indication of cost deviations, objective, constraint-based optimization– Scenario-based portfolio management Leverage cash flow analysis to increase accuracy of IT investment decisions– Support business review with actionable information– Rapidly adapt to shifting business requirements.

Portfolio Optimization
Ability to provide visibility into organizational activity across projects and strategic direction and cost optimization. Enables users to track a combination of investments to make fact-based portfolio trade-off decisions to best utilize limited resources to portfolios that reflect the business priorities.

IT Budget Management
Combines the ease of early-stage budgeting through top-down allocation with the accuracy of true cost and true benefit analysis for portfolio performance assessment.

Capacity Planning
Provides capabilities to manage resource capacity planning and resource allocation to help resource managers on resource allocation decisions. Managers then assign resources to projects. Capability to track time and expense at resource level and rolls-up to projects and all the way up to program and portfolio level.

Portfolio Performance Management
Tracks the aggregate costs and work for a portfolio item, enabling detailed tracking of total cost of ownership and visibility into resources as an investment type. Tracks project health by risk, schedule and cost with real-time analytics and reporting.

Native chatter / enterprise social networking tool that all stakeholders can use—no matter where they’re located—provides social collaboration tools that foster effective communication. Features include feeds, publisher, files, chatter mobile and social analytics.

Cloudbyz ITPM bridges the gap between ITSM, IT, and the Business, empowering organizations to:

  • Gain real time insight into the current state of organizational initiatives, resources, and spending through the centralized collection of data from multiple sources and perspectives
  • Make data driven decisions based on Cost, Business Value, Risk, Quality, to align resources and projects to Business priorities
  • Identify and analyze application portfolio optimization and rationalization opportunities
  • More rapid innovation, faster time to market for projects and programs
  • Quickly and easily create dashboards and reports that meet user requirements
  • Manage governance through business events such as M&A, divestiture, IT Strategy change, sourcing strategy change.

This was a guest article written by Tim Janisch.