What can Board of Directors benefit from Project Management Office (PMO)?

Project Management office is the workhorse that many IT firms are focusing on to cut costs, boost IT efficiency and ensure that projects are delivered on time and within a set budget. PMO trend has instilled a sense of discipline in the workings of the IT department. PMO provides the necessary structure to standardize project management policies and aid IT project management by determining work plans for processes that are repeated. Project expense has become [...]

4 IT Portfolio Challenges that Keep CIOs Awake

Chief Information Officers in any organization have a wide range of responsibilities that must be handled expertly and simultaneously. They also have to ensure that sensitive information, databases and other forms of data in any company are kept safe. Frequent surveys reveal that there are a few problems and challenges that continue to plague a CIO. Security Experienced CIOs understand the importance of information security and taking all stops to facilitate better security. Multi-layered defense [...]

The Secret to an Improved Enterprise Architecture and Business Culture

Enterprise Architecture (EA)is the most valuable, self-created asset for a company. When defining the business value of a company, the key areas of evaluation are enterprise architecture, most valuable clients, top-grossing products and innovations. Developing the aforementioned items in an active, passionate way is an essential part of the culture of an above-average organisation. Enterprise Architecture Is Created Together with the Clients Organisational culture that fails to adequately respect and appreciate enterprise architecture is doomed [...]

Why a Spreadsheet Is No Longer Adequate For IT Application Portfolio Management

Spreadsheets have been a critical working tool for most business processes for almost three decades. While they proved useful in the 1980s, the case is much different today owing to the increasing emphasis on technology and accuracy. This boosted use of technology in today’s businesses has made the spreadsheet obsolete. If your company is still using spreadsheets to manage and monitor its IT application portfolio, here are some reasons to make the change. A recent [...]

Why CIO Needs a PMO Approach?

For years now, IT departments of companies have been struggling to execute multiple projects within the given budget and time period. Today companies are all about getting in more business and so, numerous projects run simultaneously, each needing detailed monitoring by the IT department. This has made several departments adopt the PMO or Project Management Offices approach as a means to enhance IT performance, reduce costs, improve quality and speed up the delivery of projects. [...]

Project Portfolio – Aligning Your Time and Priorities

The impact of project management on the overall health of any business is tremendous.A sound foundation of individual project management for your organization will help you execute all your projects well and this is an essential step to achieve your desired objectives on time and within budget. With the aid of Project Portfolio Management (PPM), an organization is able to define and understand their different projects and also prioritize time and budget to analyze the [...]

Application Portfolio Management and 10 Key Questions for Success

The concept of Application Portfolio Management first came into existence during the 1990s but it's benefits came into surface in the early 2000s. Organizations worldwide began their preparations as they started discovering that a large number of applications used by them would soon be redundant as well as expensive to maintain as they would hardly offer any business value. The applications in most of these organizations were not cataloged in an easy and  search-friendly manner. [...]

IT Architecture and Lifecycle Cost Management

IT architecture can be defined as a process where a designer creates a set of systems or individual phases. Several factors are considered when IT architecture is being planned and developed including the functions of the system, how they are linked to other IT systems, business processed involved in creating the system as well as other essential parameters. How to create result-driven IT architecture An experienced IT architect usually has a general overview of the [...]

Better Understanding of Interplay between IT Applications

Managing an IT application portfolio for your business is an essential step in maintaining business processes, and ensuring efficiency and quality. However, before you begin working on the management aspect of the portfolio, it is important to understand exactly how IT applications interact with databases and operating systems. As an established business, you may already know that programs, software, hardware and operating systems work in unison to bring results and execute functions. In the simplest [...]

Utilizing IT Portfolio as a Common Language between Stakeholders

When it comes to incorporating IT portfolio management and communication with stakeholders, the term success can mean many things. Most managers and executives are looking for easy ways to manage active projects as well as their current progress. While many businesses make attempts to integrate and govern IT portfolio models, they are met with failure for a few simple reasons. Some of most common reasons for these failures included narrow or incomplete planning of the [...]

How to Understand the Potential and Life Cycle of Existing IT Applications

If your business is handling multiple IT applications, it is important to find the best practices for optimum planning and management. Regardless of the development model you choose for your business’ IT applications, there are six stages or phases that help you organize and execute applications. At each phase, you are required to determine the deliverables that enable the next stage in the life cycle of an IT application. Every life cycle model consists of [...]

IT Portfolio Management to Support Annual IT Budgeting

Annual budgeting for IT portfolio management is often mismanaged for one reason – lack of knowledge. In many organizations, IT departments do not understand budgeting while the finance and budgeting team does not understand the requirements of the IT department. This problem can be remedied by changing the budgeting approach and adopting a meaningful management process. This technique involves a lot more than adding numbers and working with spreadsheets and includes department heads and leaders [...]

How to Turn Your IT Strategy into an IT Portfolio

Before you learn how to use IT application strategies to create your portfolio, it is important to form the right strategies. Today, many organizations build IT application strategies on a premise that is more often than not, flawed. Where to begin strategizing The premise of using single and integrated portfolios for IT applications is not the most ideal option as your organization needs more than a common timeline and set of criteria to manage this [...]

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Application Portfolio: an IT Management Tool in the City of Oulu

Thanks to an effortless implementation project, Thinking Portfolio provided instantaneous benefits. The City of Oulu is using both the Thinking Portfolio project portfolio and application portfolio. The decision to procure both tools was made simultaneously, and both portfolios were implemented within two months.  The project portfolio was implemented in November 2012 with the application portfolio introduced a month later. Juha Saarela, IT Specialist, City of Oulu, who participated in the implementation, says that Thinking Business [...]

Comprehensive Lifecycle Management for IT Applications

Application lifecycle management is an essential IT system that allows you to simplify software development. When IT processes and applications are automated, you can introduce infrastructure to record and manage change requests in a seamless and organized manner. With comprehensive lifecycle management for IT applications, your business can ensure that all IT-related tasks like projects, changes, requests as well as release are tracked and managed in a consistent manner and are easily accessible throughout the [...]