Service portfolio management involves the governance and management of IT service portfolios. With the IT Service Portfolio Management tools, you can document and manage your project portfolios using a standardised, structured format.

1. A Comprehensive Introduction To
IT Service Portfolio Management
Service portfolio management involves the governance and management of IT service
portfolios. With the IT Service Portfolio Management tools, you can document and manage
your project portfolios using a standardised, structured format.
So What Exactly Is Service Portfolio Management?
Portfolio Management involves a single, centralised location combining the information portfolio
managers and service owners require to:
● Develop a pipeline or workflow of services that fulfil the greatest objectives of your
organisation.
● Prevent redundant processes such as service duplication and overlap.
● Rapid identification of low-value services so that resources can be redeployed.
In the IT realm, service portfolio management constitutes the creation, organisation, and
management of a portfolio of IT services your organisation is handling, such as
communication-related services or infrastructure-related services.

2. The fundamental objective of implementing IT service portfolio management is to streamline
your IT operations and fulfil customer demands by optimising the value of your services and
reducing operational costs.
With the correct portfolio management tools, you can accomplish these goals. A service
portfolio comprises data about the organisation of services you’re offering and data about each
service (status, valuation, resources assigned, and other related items).
Phases of IT Service Portfolio Management
Service/Project pipeline
This phase includes the status of services that are planned but not yet operational or active for
use. These services generally constitute proposed projects or services undergoing review for
suitability. You can leverage this portfolio component to understand and determine the future
business growth and timeline required for each service.
Service/Project catalogue
Consists of every service in a particular portfolio that is not only operational and active for
utilisation but also open for design and development.
Retired Services/Projects
Catalogue of services that are once operational or completed but are no longer active for usage.
With the overview, you can retrieve any essential historical information in the future for
reference.
Ensure to hire an experienced professional partner for DataOps and IT portfolio management to
reduce complexities and remove the bottleneck from your operational workflow.
With quality service portfolio management, you can monitor, track and manage the complete
portfolio of IT projects available to your firm. Your hired partner applies necessary modules and
features to help you visualise and justify every service based on business requirements by
ensuring they deliver maximum value for your business within managed risks and costs.
Also Read: A Comprehensive Guide To Software Release Management For Small
Organisations

3. What Are The Benefits Of IT Service Portfolio
Management?
● Align the services you provide with the strategic business goals.
● Fulfil the service demands of your clients and end-users within the stipulated timeline.
● Transform your business from a cost-based service to a value-offering service.
● Make better, informed decisions for creating new services, improving and delivering
current services, and retiring unnecessary services.
● Enhance the productivity of your IT support team through better identification and
increased focus on the services/projects that generate the most business value.
● Make your entire organisational operation cost-efficiency by consolidating duplicate
services, improving under-performing services, and eliminating low-value, unnecessary
projects.
● Document the different services offered or projects following a standardised,
well-structured format.
Contact Us
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Address: Level 2, 389 George St, Sydney 2000 NSW Australia
Phone(s) : +61 2 8916 6391
Fax : +61 2 9437 4214
Email id: enquiries@enov8.com
Website: https://www.enov8.com/