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5 Guiding Principles for IT Portfolio Managament

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5 Guiding Principles for IT Portfolio Managament

  1. 1. Follow the Light 5 Guiding Principles for IT Portfolio Management
  2. 2. Information Technology Portfolio Management (ITPfM) is the process through which your organization can optimize its “return” on IT spending.
  3. 3. Guiding Principle # 1 Information technology changes fast; therefore good planning should be easy and frequent. Evaluating your portfolio at the end of the fiscal year isn’t often enough. Your organization probably strives to be responsive and flexible - an annual planning process for your IT spend is not consistent with that goal.
  4. 4. Guiding Principle # 2 Focus on the process, not the technology. Don’t get seduced by all the bells and whistles of a portfolio management system. The system itself won’t improve the process. However, a simple, clear, readily available process with assigned roles and responsibilities will.
  5. 5. Guiding Principle # 3 Understand the current state. The first step in the process is the most important. In our experience many organizations don’t even know what IT assets they have and which ones they are supporting. A full listing will reveal some “low-hanging” fruit that can provide immediate positive results.
  6. 6. Guiding Principle # 4 Success should be measured by the decisions made and the outcomes generated. This effort should result in reduced redundancy, more strategic expenditures, and improved returns on IT investments. If not, then the process is not working.
  7. 7. Guiding Principle # 5 Shared Understanding. Following a process will foster a better understanding of the IT spending, IT strategy, and decision making. This will eliminate any perception of political decision making and empower a greater sense of ownership among all stakeholders in the process.
  8. 8. Visit www.IT-Portfolio-Management.com for more information and insight!

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