What makes a few IT organizations and business houses successful? Business leaders make a well-informed decision. Successful companies implement services only if they prove beneficial for the business houses and ensure a great ROI. It is here that service portfolio management (SPM) is instrumental. In this article at Government Technology, the author explains how merging IT service management (ITSM) and project portfolio management (PPM) helps organizations gain better control over IT resources.
What Are the Key Benefits of SPM?
The correct implementation of SPM allows CIOs to convert their assets and operating costs into services. This will undoubtedly bring profits and value to the organization. Here are some of the advantages of SPM for organizations:
Understand Your Resource Capabilities
“When you can report on both service and project work, you are getting a big-picture view of your entire IT organization,” says the author. It also allows project managers to balance the workload across projects and engage team members in different types of work that must be executed within a given time.
Insight into IT Services’ Impact
SPM demonstrates the impact of IT services on the performance of an enterprise. Additionally, SPM enhances the productivity of IT assistance staff through a maximized focus on the services that provide maximum value.
Value to Business
Service portfolio management helps business leaders make informed decisions about investments. Services can be implemented only if they demonstrate a good business case and a clear return on investment. SPM analyzes this by comparing the expected results from the customers and the capital required to build and deliver services.
In other words, SPM offers a holistic perspective of IT services. It also helps a company define its challenges, capabilities, business terms, and needs. To read the original article, click on https://www.govtech.com/computing/why-it-service-management-and-project-portfolio-management-belong-together.html.