IT portfolio management and governance is an integral component of IT-enabled corporate management.
So, IT management needs to build a balanced “running, growing, transforming” portfolio, keep optimizing, and aim for breakthrough innovation on the horizon to improve IT agility and maturity.
Periodic assessment of IT application portfolio maturity: The speed of change is increasing and customers become more selective about products or services they need. To keep IT relevant for the long run, it’s important to have periodic external assessments for uncovering potential problems, advocating emerging trends, and deepening understanding of IT management contextualization. Applications have become an integral component of an enterprise’s profitability, flexibility and maturity. Agile is emerging as the software application development methodology because it enables the iterative user interaction, frequent team communication, and is more adaptive in today's rapidly changing business environment.
Software as a service models create a new angle to review information technology portfolios. More and more new applications, or new versions of existing applications will be delivered on software as a service models, ease of management and capacity elasticity will provide significant incentives to migrate in that direction. Modern software management with embedded collaboration/analytics features will empower the software team with the effective tools, resources and best practices. Creation of software management development artifacts (requirements, architecture, design, code, etc.) should drive the business growth and balance cycle and the process should be chosen accordingly. Software development is not repetitive. Specifications for each and every cycle are different. Unused or underutilized applications that consume a disproportionate amount of resources when compared to their value, need to be addressed.
Portfolio management is about doing the right things, for increasing business effectiveness: An integrated and concentrated governance approach based on an operational portfolio framework should support IT strategic planning, enterprise architecture, capital programming, assets management, risk management. The program management provides structure coupled with financial planning towards preventing sprawl, ensuring strategy alignment is assured through financial alignment and towards leveraging existing investments as much as possible. IT needs to become more proactive, improve the ability to innovate, and thus, compete effectively.
If application development can't keep up with the demand & pace of business change, then there are problems. Enterprise IT needs to adopt both new technologies and behaviors to keep up. The whole move from mosaic towards non-monolithic applications has already happened. Applications will become more interrelated as we move to a world of systems-of-systems where constraints govern how and what we develop methodologically. Software Engineering has become a common practice, has permeated into every business in every location, and it underpins the business capability and brand of every digital organization today.
IT governance/oversight ensures application development maintains conformance to the business need: IT needs to become the strategic partner of the business, rather than a support function only. For the companies that get stuck at the lower level of organizational maturity, IT has been unable to demonstrate the value in application portfolio management. IT leaders should care about improving all aspects of IT as effective leadership, culture, and environment are all critical elements required to run a high-performance IT organization, provide the tools and training to fulfill business needs.
It is important for leveraging an effective IT governance, risk, compliance framework to identify vulnerability in the control via risk assessment and determine the potential range of consequences. All of these are applicable to the entire IT organization. IT governance facilitates faster, better execution through visibility and formal decision making. By enhancing strong governance disciplines, IT portfolio management can improve return on investment by focusing on the decision-making process around which programs and projects should be executed based on their alignment with the goals and objectives of the organization.
IT portfolio management and governance is an integral component of IT-enabled corporate management. High mature IT organizations have become synonymous with the change department and play a change agent role in Business Transformation via well-thought-out planning and proactively participating in business conversations and problem-solving.
Periodic assessment of IT application portfolio maturity: The speed of change is increasing and customers become more selective about products or services they need. To keep IT relevant for the long run, it’s important to have periodic external assessments for uncovering potential problems, advocating emerging trends, and deepening understanding of IT management contextualization. Applications have become an integral component of an enterprise’s profitability, flexibility and maturity. Agile is emerging as the software application development methodology because it enables the iterative user interaction, frequent team communication, and is more adaptive in today's rapidly changing business environment.
Software as a service models create a new angle to review information technology portfolios. More and more new applications, or new versions of existing applications will be delivered on software as a service models, ease of management and capacity elasticity will provide significant incentives to migrate in that direction. Modern software management with embedded collaboration/analytics features will empower the software team with the effective tools, resources and best practices. Creation of software management development artifacts (requirements, architecture, design, code, etc.) should drive the business growth and balance cycle and the process should be chosen accordingly. Software development is not repetitive. Specifications for each and every cycle are different. Unused or underutilized applications that consume a disproportionate amount of resources when compared to their value, need to be addressed.
Portfolio management is about doing the right things, for increasing business effectiveness: An integrated and concentrated governance approach based on an operational portfolio framework should support IT strategic planning, enterprise architecture, capital programming, assets management, risk management. The program management provides structure coupled with financial planning towards preventing sprawl, ensuring strategy alignment is assured through financial alignment and towards leveraging existing investments as much as possible. IT needs to become more proactive, improve the ability to innovate, and thus, compete effectively.
If application development can't keep up with the demand & pace of business change, then there are problems. Enterprise IT needs to adopt both new technologies and behaviors to keep up. The whole move from mosaic towards non-monolithic applications has already happened. Applications will become more interrelated as we move to a world of systems-of-systems where constraints govern how and what we develop methodologically. Software Engineering has become a common practice, has permeated into every business in every location, and it underpins the business capability and brand of every digital organization today.
It is important for leveraging an effective IT governance, risk, compliance framework to identify vulnerability in the control via risk assessment and determine the potential range of consequences. All of these are applicable to the entire IT organization. IT governance facilitates faster, better execution through visibility and formal decision making. By enhancing strong governance disciplines, IT portfolio management can improve return on investment by focusing on the decision-making process around which programs and projects should be executed based on their alignment with the goals and objectives of the organization.
IT portfolio management and governance is an integral component of IT-enabled corporate management. High mature IT organizations have become synonymous with the change department and play a change agent role in Business Transformation via well-thought-out planning and proactively participating in business conversations and problem-solving.
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