Four Common Mistakes in IT Portfolio Management - Slide 5

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Four Common Mistakes in IT Portfolio Management-5
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Often the portfolio only addresses new, major project initiatives – IT services and smaller projects are not under the umbrella of PfM – and yet these “non-big” activities typically consume 60 percent to 70 percent of the IT budget – the lion’s share is untouched by PfM disciplines.

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According to Vaughan Merlyn, IT Portfolio Management is at the heart and soul of leveraging IT for business value, and yet most IT organizations do a poor job of managing IT investments as a portfolio. At its best, IT Portfolio Management (PfM) is a way to:

  • Define your investment strategy for IT – including needs for risk/return, innovation, common enterprise-wide capability.
  • Make that strategy visible and understandable to business executives to allow dialog and debate to reach agreement with key business stakeholders.
  • Monitor performance of the IT portfolio.
  • Adjust the portfolio based upon actual performance of IT investments.
  • Adjust the portfolio based upon changing business conditions. 

At its worst, PfM is simply a laundry list of projects or a collection of laundry lists, one or more for each business unit and corporate function. Mr. Merlyn has developed this list of common mistakes that are made in PfM.

 

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