- 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by prioritizing services that provide more value to the business, ensuring that you do not waste money on low-value or out-of-date IT services.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 Research & Tools
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.Besides the small introduction, subscribers and consulting clients within this management domain have access to:
- Lead Strategic Decision Making With Service Portfolio Management – Phases 1-5
1. Establish the service portfolio
Establish and understand the service portfolio process by setting up the Service Portfolio Worksheet.
- Lead Strategic Decision Making With Service Portfolio Management – Phase 1: Establish the Service Portfolio
- 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.
- Lead Strategic Decision Making With Service Portfolio Management – Phase 2: Develop a Value Assessment Framework
- Value Assessment Tool
- Value Assessment Example Tool
3. Manage intake and assessment of initiatives
Create a centralized intake process to manage all new service ideas.
- Lead Strategic Decision Making With Service Portfolio Management – Phase 3: Manage Intake and Assessment of Initiatives
- Service Intake Form
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.
- Lead Strategic Decision Making With Service Portfolio Management – Phase 4: Assess Active Services
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.
- Lead Strategic Decision Making With Service Portfolio Management – Phase 5: Manage and Communicate the Service Portfolio
Workshop: Lead Strategic Decision Making With Service Portfolio Management
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 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.
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
1.1 Review the Service Portfolio Worksheet.
1.2 Adapt the Service Portfolio Worksheet.
Outputs
Knowledge about the use of the Service Portfolio Worksheet.
Adapt the worksheet to reflect organizational needs and structure.
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
2.1 Understand value from business context.
2.2 Determine the governing body.
2.3 Assess culture and organizational structure.
2.4 Complete the value assessment.
2.5 Discuss value assessment score.
Outputs
Alignment on value context.
Clear roles and responsibilities established.
Ensure there is a supportive organizational structure and culture in place.
Understand how to complete the value assessment and obtain a value score for selected services.
Understand how to interpret the service value score.
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
3.1 Review or design the service intake process.
3.2 Review the Service Intake Form.
3.3 Design a process to assess and transfer service ideas.
3.4 Design a process to transfer completed services to the service catalog.
Outputs
Create a centralized process for service intake.
Complete the Service Intake Form for a specific initiative.
Have a process designed to transfer approved projects to the PMO.
Have a process designed for transferring of completed services to the service catalog.
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
4.1 Discuss/review management of active services.
4.2 Complete value assessment for an active service.
4.3 Determine service value and usage.
4.4 Determine the next step for the service.
4.5 Document the decision regarding the service outcome.
Outputs
Understand how active services must be assessed throughout their lifecycles.
Understand how to assess an existing service.
Place the service on the 2x2 matrix based on value and usage.
Understand the appropriate next steps for services based on value.
Formally document the steps for each of the IRMR options.
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
5.1 Create a communication plan for service portfolio and value assessment.
5.2 Create a communication plan for service intake.
5.3 Create a procedure to continuously validate the process.
Outputs
Document the target audience, the message, and how the message should be communicated.
Document techniques to encourage participation and promote participation from the organization.
Document the formal review process, including cycle, roles, and responsibilities.