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by prioritizing services that provide more value to the business, ensuring that you do not waste money on low-value or out-of-date IT services.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.

Lead Strategic Decision Making With Service Portfolio Management

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.

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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

1.1

Review the Service Portfolio Worksheet.

  • Knowledge about the use of the Service Portfolio Worksheet.

1.2

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

2.1

Understand value from business context.

  • Alignment on value context.

2.2

Determine the governing body.

  • Clear roles and responsibilities established.

2.3

Assess culture and organizational structure.

  • Ensure there is a supportive organizational structure and culture in place.

2.4

Complete the value assessment.

  • Understand how to complete the value assessment and obtain a value score for selected services.

2.5

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

3.1

Review or design the service intake process.

  • Create a centralized process for service intake.

3.2

Review the Service Intake Form.

  • Complete the Service Intake Form for a specific initiative.

3.3

Design a process to assess and transfer service ideas.

  • Have a process designed to transfer approved projects to the PMO.

3.4

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

4.1

Discuss/review management of active services.

  • Understand how active services must be assessed throughout their lifecycles.

4.2

Complete value assessment for an active service.

  • Understand how to assess an existing service.

4.3

Determine service value and usage.

  • Place the service on the 2x2 matrix based on value and usage.

4.4

Determine the next step for the service.

  • Understand the appropriate next steps for services based on value.

4.5

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

5.1

Create a communication plan for service portfolio and value assessment.

  • Document the target audience, the message, and how the message should be communicated.

5.2

Create a communication plan for service intake.

  • Document techniques to encourage participation and promote participation from the organization.

5.3

Create a procedure to continuously validate the process.

  • Document the formal review process, including cycle, roles, and responsibilities.