IT Portfolio Management Step-by-Step: Unlocking the Business Value of Technology

6.4. INDUSTRY PROVIDER ASSESSMENT METHODOLOGY

A proven methodology serves as the primary framework in this section for evaluating IT portfolio management software solutions. As shown in Exhibit 6.3, the approach consists of a category of functional capabilities followed by two dimensions: presence (ability to deliver value to the customer) and performance (ability to provide value to the customer).

These categories and criteria must be used in the context of the company's specific business environment, requirements, strategies, and priorities. They vary in importance across companies and among industries. Appendix 6A identifies more detailed and advanced categories, criteria, and questions.

Functional Capabilities

When selecting software, we recommend performing a vendor functional capabilities assessment encompassing a suite of related areas that are key to understanding the overall portfolio.

Project Management

Most portfolio management tools have either project management functionality or linkages to project management tools. A project is a time-bounded endeavor undertaken to create a unique product or service, or to modify or retire an existing asset, product, or service. Time-bounded indicates a fixed beginning and a fixed end. The requisite functionality sought in a solution should include project scheduling and planning, scope and change management, optimization, and value.

Program Management

Program management focuses on the ability to define and manage the interdependencies ...