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5 Reasons to Embrace IT Portfolio Management

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Embrace IT Portfolio Management

1. Crowdsourcing ITPM

Why have some do all when all can do some? Very often, companies have a small team trying to collect and manage an extraordinary amount of data on their own. This is extremely difficult for large organizations. With crowdsourcing, you can have thousands of people contributing updates during their day-to-day activities, and you get trusted data that is updated in near-real-time. Separately, if you rely on discovery tools to identify what’s running in your data centers and use that to feed your CMDB, you may find that the data is not always accurate.

That’s a problem. How are you going to effectively monitor that portfolio?

What if you could crowdsource the attestation of that data? Whether you rely on manual data updates or automated data discovery, crowdsourcing is a value added activity to ensure trustworthy data as the basis for your evaluation and planning.

People trust what’s now, not what’s old. You know what’s sexy? Outdated information (…said no one ever).

2. Killing Applications

You’ve got hundreds, maybe thousands of applications that are costing you a lot (a LOT!) of money. Your organization can run on a significantly smaller number of applications, but only if you reconcile correctly. Mergers & acquisitions are a great example of where this is necessary. When two powerful organizations get all worked up and merge themselves together, there are going to be many redundant applications can’t simply be left lying around, and non-standard or aging technologies that need remediation. Reconciling IT resources and applications will help your company avoid the post-merger walk-of-shame the next morning.

3. Supporting Capability Evolution

You can’t just plug a lot of applications into a bunch of technology and hope it’ll work forever. The needs of your business are going to change, and that change requires an evolution of your capabilities. That means you’ll need to align applications to capabilities they support. As you plan your capability evolution, you can validate that the application portfolio supports that evolution. If you phase out a capability, you can identify which applications are no longer necessary.

4. Increasing Agility

You know what’s sexy? Things that are agile. When managed correctly, your IT landscape can increase your organization’s agility.

Your legacy systems slow you down. You can add new applications every week, but if you tie everything back to a legacy mainframe, you’re only going to be as strong as your weakest link. Your redundancy will slow you down. If you have five applications supporting the same business need, and that need changes or evolves, you now have as much as five times the amount of work to do to update your IT portfolio.

Simply put, having fewer applications makes you more agile. This enables greater flexibility when reacting to market changes in a world where every second counts.

5. Confidence

How stable is your technology foundation? When you don’t know which applications are dependent upon which technology, it puts your organization in a very vulnerable position. You may update one piece of technology or retire another, and be surprised when your applications start crashing around you. A well-managed IT portfolio can give you the confidence you need in your technology foundation to “keep the lights on” while enabling you to repurpose resources for innovation.

So, does all that sweet talk have you excited yet? Love doesn’t have to conform to some standard set by the media - beauty is in the eye of the beholder. Now that we’ve exposed these reasons to love IT portfolio management, what else is out there waiting to be uncovered?

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MEGA

1. Crowdsourcing ITPM

Why have some do all when all can do some? Very often, companies have a small team trying to collect and manage an extraordinary amount of data on their own. This is extremely difficult for large organizations. With crowdsourcing, you can have thousands of people contributing updates during their day-to-day activities, and you get trusted data that is updated in near-real-time. Separately, if you rely on discovery tools to identify what’s running in your data centers and use that to feed your CMDB, you may find that the data is not always accurate.

That’s a problem. How are you going to effectively monitor that portfolio?

What if you could crowdsource the attestation of that data? Whether you rely on manual data updates or automated data discovery, crowdsourcing is a value added activity to ensure trustworthy data as the basis for your evaluation and planning.

People trust what’s now, not what’s old. You know what’s sexy? Outdated information (…said no one ever).

2. Killing Applications

You’ve got hundreds, maybe thousands of applications that are costing you a lot (a LOT!) of money. Your organization can run on a significantly smaller number of applications, but only if you reconcile correctly. Mergers & acquisitions are a great example of where this is necessary. When two powerful organizations get all worked up and merge themselves together, there are going to be many redundant applications can’t simply be left lying around, and non-standard or aging technologies that need remediation. Reconciling IT resources and applications will help your company avoid the post-merger walk-of-shame the next morning.

3. Supporting Capability Evolution

You can’t just plug a lot of applications into a bunch of technology and hope it’ll work forever. The needs of your business are going to change, and that change requires an evolution of your capabilities. That means you’ll need to align applications to capabilities they support. As you plan your capability evolution, you can validate that the application portfolio supports that evolution. If you phase out a capability, you can identify which applications are no longer necessary.

4. Increasing Agility

You know what’s sexy? Things that are agile. When managed correctly, your IT landscape can increase your organization’s agility.

Your legacy systems slow you down. You can add new applications every week, but if you tie everything back to a legacy mainframe, you’re only going to be as strong as your weakest link. Your redundancy will slow you down. If you have five applications supporting the same business need, and that need changes or evolves, you now have as much as five times the amount of work to do to update your IT portfolio.

Simply put, having fewer applications makes you more agile. This enables greater flexibility when reacting to market changes in a world where every second counts.

5. Confidence

How stable is your technology foundation? When you don’t know which applications are dependent upon which technology, it puts your organization in a very vulnerable position. You may update one piece of technology or retire another, and be surprised when your applications start crashing around you. A well-managed IT portfolio can give you the confidence you need in your technology foundation to “keep the lights on” while enabling you to repurpose resources for innovation.

So, does all that sweet talk have you excited yet? Love doesn’t have to conform to some standard set by the media - beauty is in the eye of the beholder. Now that we’ve exposed these reasons to love IT portfolio management, what else is out there waiting to be uncovered?