With your ITSM, maybe undertaking ITIL service portfolio management should be your next big task. But first, you might need to know what it is. In a post at ITSM.tools, Stephen Watts defines and describes ITIL service portfolio management, outlines its benefits, and discusses how it compares to other types of portfolio management.
We all already know what ITIL is (that lovable, labyrinthine scamp!), and we know how it factors into IT services. But the service portfolio is the spectrum of IT and business services that are provided. And service portfolio management provides oversight of the portfolio and shares information on the current state and history of individual services. The service portfolio comprises the service catalogue, the service pipeline, and the retired services catalogue.
A major purpose of service portfolio management is to be able to justify the value of services. Good portfolio management also enables customers to understand precisely what they will receive from a service, and it enables you to monitor services in the pipeline well. In general, greater transparency into value and risks arises.
Watts goes on to compare service portfolio management to project portfolio management (PPM):
While service portfolio management is tracking services, PPM is tracking projects in the same manner – making decisions on investments. But the problem with PPM is that it often stops short, when the project ceases – and as a new service reaches customers on a daily basis – with PPM no longer measuring value at this point.
This can create a rift between App Dev and IT operations, with a difference between what the business expected to the project to deliver and what the customers actually receives (in service terms).
Thus organizations need to recognize that service portfolio management and PPM are related, and that both have their place in a successful ITIL deployment. With industry experts stating that service portfolio management should determine the role of PPM, and not the other way around.
For further thoughts on the value of ITIL service portfolio management, you can view the original post here: https://itsm.tools/2018/02/08/itil-service-portfolio-management-benefits-explained/