The IT project portfolio allows the company to establish resource application management to contribute to a more strategic and assertive decision -making process. This portfolio will bring consolidated information about the services that are offered according to the value for a business , allowing the company to count an efficient strategy to meet market demands and deliver to its consumers the best tools. IT governance and IT project portfolio management are fundamental in this process.
IT project portfolio management refers to a consolidated set of all services managed by the company. This document can establish a broad view of the entire business life cycle , including the service funnel, catalog and services.
IT portfolio management presents a strategic character, allowing a global view of everything that is done and ensuring connection with the company's strategy. This is because projects need to be aligned with the goals and strategic demands of a business.
What is IT governance?
IT governance is a strategy that encompasses all fundamental practices for alignment of IT resources , ie it allows the alignment of hardware, software and available technical labor. Thus, managers can invest to increase the company's competitiveness in the market and ensure a constant improvement process of the tasks and services that are offered.
Understand how IT governance can contribute to your business growth:
IT Governance Strategy is based on five pillars:
- Strategic alignment;
- Value generation;
- Risk Management;
- Resource Management;
- Measurement of results.
When well implemented, IT governance can add numerous advantages for the company , being the main ones:
Process automation
IT governance ensures that managers can more intelligently manage available resources and assets within a company . Based on this management and constant improvement of processes it is possible to automate the routine and add even more productivity to the business.
An example of this is the use of chatbot to ensure a more consistent and comprehensive dynamics within the system. According to the survey : growth, trends, impact of Covid 19 and predictions (2023-2028), the use of this tool is expanding, with a growth forecast of 34.75%.
In addition to reducing the need for labor for contact with the company, this tool also allows the optimization of resources and the focus on even more important activities.
Cost reduction
By adding more quality and efficiency within the company, IT project portfolio management enables you to reduce costs more optimally . The available labor can focus on solutions that can add more return and results and focus more productively in other tasks.
In this sense, this strategy allows managers to have a more complete view of all demands within the business and favors the search for even more optimized services. This means that the company can work with more intelligence and direction during routine.
Increased digital security
Digital security is one of the most important aspects of a market where threats are increasingly threatening . Along with the technological resources that advance every day, cybercriminals also develop strategies and methodologies to get into systems and cause numerous problems for the company.
There is a growing concern with information security and confidentiality of data that is stored within the business. Considering that there is no company that is completely prepared to deal with these threats, it is essential that there is risk management within the organization linked to IT project portfolio management.
Development of strategic solutions
Add more proximity to the IT industry and the other sectors within a business contribute to a search for more strategic and assertive solutions within the company. Mapping opportunities and possible challenges to be faced will help in the proposal of more efficient and more financially returned strategies.
By maintaining focus on strategy and the demands of the operation, it is possible to ensure the implementation of more complete solutions.
Importance of IT Project Portfolio Management
IT portfolio management includes the selection of services and items that will be part of the company, considering each other's planning and its potential to add value. This way, managers will be able to have a complete strategy that covers everything that happens within the company, as well as what is offered to consumers.
Relating this factor with IT governance, we can understand that this management process contributes to more efficient use of the resources available by the sector . With this, using transparency and a decision -making process based, it is possible to contribute to the success of the items available in the portfolio.
We need to remember that even if the portfolio items are in accordance with budgets and demands and are able to deliver the results according to planning, it does not necessarily mean that this portfolio is appropriate. IT governance contributes to a strategic alignment of all tasks that are related to the sector and contributes to more complete management.
|IT GOVERNANCE IN PRACTICE: 5 ESSENTIAL TIPS
How is IT portfolio management done?
Based on the strategies developed over the years, experts would be able to establish different modalities of management. In this sense, the management of IT portfolios can be carried out based on two main management schools, being:
Traditional model
The traditional portfolio management model takes into consideration, for example, models of Project Management Institute , an international organization focused on valuing project management. This entity establishes guides and foundations of good practices that help add more quality efficiency, based on five main processes:
1- Portfolio Definition: The definition of the portfolio should take into account the corporate strategy as well as its objectives. At this stage, managers must perform a complete analysis of the company, in order to understand the processes and goals of the business.
2- Component Selection: Also considering the strategic objectives of the business, the selection of portfolio components should focus on the potential for value addition. The selected items must be compatible with the strategic moment and its execution capacity.
3- Management: To ensure that this portfolio is in accordance with goals and objectives, a management process with a focus on planning, control and monitoring should be established. The purpose of this task is to ensure that everything within the planning is performed as expected.
4- Communication and Reports: The progress of each of the components present in the portfolio should be monitored based on performance indicators and results obtained. All participants in this process should maintain an effective communication routine, so that all responsible have access to relevant data.
5- Review and governance: Aiming at the intelligent use of resources, this portfolio must undergo a constant review and governance process. Compliance, planning and progress of items must meet all current regulations to maintain the company's compliance
Lean model
Based on models such as Safe , this strategy focuses on the adoption of agile methods and an efficiency -oriented culture. In this case, the view of the process is focused on products, not to projects. For this model to be effective, it is necessary to adopt a leaner approach, focusing on some pillars:
- Increased efficiency through the standardization of processes within the organization.
- Adoption of a continuous flow in the activities activities, adding efficiency and high performance.
- Alignment of activities focused on value generation, considering the goals and objectives established by the company.
- Adoption of production focused on waste reduction, using the resources available with more focus and intelligence.
In this sense, this methodology contributes to the optimization of resources and allows the delivery of the service according to the customer's request. The focus of this methodology is to achieve a solution that delivers the highest possible value to the customer with a minimum use of available resources.
Determining the best methodology for IT project portfolio management will help your business achieve success and establish the best solutions to add value and quality to your services . It is extremely needed that your business IT governance is prepared to implement more complete and effective management.
Thus, all technological processes within the business can be established in a standardized manner, helping the organization achieve a differential in the face of competition. To meet the demands of such a competitive market, it is necessary to work more intelligently and optimally , and this is possible through efficient IT project portfolio management.
