Project Management

Tackling Service-Based Portfolio Management

Building on our ITIL theme from last month, I thought it would be great to extend our IT Service Management (ITSM) dialogue into portfolio management. ITSM represents the processes by which IT manages its products and services to the end customer; ITIL is one framework that is implemented for effective IT Service Management.
As we think about how we evolve our portfolio management disciplines, it is important to practice portfolio management within the context of service management. Ideally, an IT organization clearly defines its set of products and services via a service catalog and each customer works with a service portfolio manager to manage the lifecycle of services that is pertinent to them. This discipline of service portfolio management is new to IT, and one that will take the entire organization re-orienting itself to a focus around services. In order to do this, it is important to understand some of the key basics of service management and important processes that are required to practice effective service portfolio management.
Elements of a Service
For the purpose of this dialogue, we will focus on customer-based services. These services are end-user products that are used to support business activities. These services can either be application services or infrastructure services but must directly be understood and accessible by end users. …

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