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Lead Strategic Decision Making With Service Portfolio Management
Ensure you are investing in high-value IT services with a well-managed service portfolio.
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Your Challenge
- There are no standardized processes for the intake of new ideas and no consistent view of the drivers needed to assess the value of these ideas.
- IT is spending money on low-value services and doesn’t have the ability to understand and track value in order to prioritize IT investment.
- CIOs are not trusted to drive innovation.
Our Advice
Critical Insight
- The service portfolio empowers IT to be a catalyst in business strategy, change, and growth.
- IT must drive value-based investment by understanding value of all services in the portfolio.
- Organizations must assess the value of their services throughout their lifecycle to optimize business outcomes and IT spend.
Impact and Result
- Optimize IT investments by prioritizing services that provide more value to the business, ensuring that you do not waste money on low-value or out-of-date IT services.
- Ensure that services are directly linked to business objectives, goals, and needs, keeping IT embedded in the strategic vision of the organization.
- Enable the business to understand the impact of IT capabilities on business strategy.
- Ensure that IT maintains a strategic and tactical view of the services and their value.
- Drive agility and innovation by having a streamlined view of your business value context and a consistent intake of ideas.
- Provide strategic leadership and create new revenue by understanding the relative value of new ideas vs. existing services.
Start here – read the Executive Brief
Service portfolio management enables organizations to become strategic value creators by establishing a dynamic view of service value. Understand the driving forces behind the need to manage services through their lifecycles.
1. Establish the service portfolio
Establish and understand the service portfolio process by setting up the Service Portfolio Worksheet.
2. Develop a value assessment framework
Use the value assessment tool to assess services based on the organization’s context of value.
3. Manage intake and assessment of initiatives
Create a centralized intake process to manage all new service ideas.
4. Assess active services
Continuously validate the value of the existing service and determine the future of service based on the value and usage of the service.
5. Manage and communicate the service portfolio
Communicate and implement the service portfolio within the organization, and create a mechanism to seek out continuous improvement opportunities.
Guided Implementations
This guided implementation is a ten call advisory process.
Guided Implementation #1 - Establish the service portfolio
Call #1 - Review the Service Portfolio Worksheet.
Call #2 - Adapt the Service Portfolio Worksheet.
Guided Implementation #2 - Develop a value assessment framework
Call #1 - Complete the culture and organizational structure assessment.
Call #2 - Complete the Value Assessment Tool for different services.
Guided Implementation #3 - Manage intake and assessment of initiatives
Call #1 - Review and design the service intake process.
Call #2 - Review and adapt the service intake form.
Guided Implementation #4 - Assess active services
Call #1 - Assess the value of a few existing services.
Call #2 - Determine the appropriate next steps for the assessed services.
Guided Implementation #5 - Manage and communicate the service portfolio
Call #1 - Create a communication plan.
Call #2 - Create a monitoring process to address feedback.
Book Your Workshop
Onsite workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost onsite delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Module 1: Establish the Service Portfolio
The Purpose
- Establish and understand the service portfolio process by setting up the Service Portfolio Worksheet.
- Understand at a high level the steps involved in managing the service portfolio.
Key Benefits Achieved
- Adapt the Service Portfolio Worksheet to organizational needs and create a plan to begin documenting services in the worksheet.
Activities
Outputs
Review the Service Portfolio Worksheet.
- Knowledge about the use of the Service Portfolio Worksheet.
Adapt the Service Portfolio Worksheet.
- Adapt the worksheet to reflect organizational needs and structure.
Module 2: Develop a Value Assessment Framework
The Purpose
- Understand the need for a value assessment framework.
Key Benefits Achieved
- Identify the organizational context of value through a holistic look at business objectives.
- Leverage Info-Tech’s Value Assessment Tool to validate and determine service value.
Activities
Outputs
Understand value from business context.
- Alignment on value context.
Determine the governing body.
- Clear roles and responsibilities established.
Assess culture and organizational structure.
- Ensure there is a supportive organizational structure and culture in place.
Complete the value assessment.
- Understand how to complete the value assessment and obtain a value score for selected services.
Discuss value assessment score.
- Understand how to interpret the service value score.
Module 3: Manage Intake and Assessment of Initiatives
The Purpose
- Create a centralized intake process to manage all new service ideas.
Key Benefits Achieved
- Encourage collaboration and innovation through a transparent, formal, and centralized service intake process.
Activities
Outputs
Review or design the service intake process.
- Create a centralized process for service intake.
Review the Service Intake Form.
- Complete the Service Intake Form for a specific initiative.
Design a process to assess and transfer service ideas.
- Have a process designed to transfer approved projects to the PMO.
Design a process to transfer completed services to the service catalog.
- Have a process designed for transferring of completed services to the service catalog.
Module 4: Assess Active Services
The Purpose
- Continuously validate the value of existing services.
Key Benefits Achieved
- Ensure services are still providing the expected outcome.
- Clear next steps for services based on value.
Activities
Outputs
Discuss/review management of active services.
- Understand how active services must be assessed throughout their lifecycles.
Complete value assessment for an active service.
- Understand how to assess an existing service.
Determine service value and usage.
- Place the service on the 2x2 matrix based on value and usage.
Determine the next step for the service.
- Understand the appropriate next steps for services based on value.
Document the decision regarding the service outcome.
- Formally document the steps for each of the IRMR options.
Module 5: Manage and Communicate Your Service Portfolio
The Purpose
- Communicate and implement the service portfolio within the organization.
Key Benefits Achieved
- Obtain buy-ins for the process.
- Create a mechanism to identify changes within the organization and to seek out continuous improvement opportunities for the service portfolio management process and procedures.
Activities
Outputs
Create a communication plan for service portfolio and value assessment.
- Document the target audience, the message, and how the message should be communicated.
Create a communication plan for service intake.
- Document techniques to encourage participation and promote participation from the organization.
Create a procedure to continuously validate the process.
- Document the formal review process, including cycle, roles, and responsibilities.
