Many companies use project portfolio management (PPM) to solve a variety of challenges. However, reality shows that its practical implementation is proving difficult due to increasing complexity. Thus, it is difficult to develop and maintain alignment between strategies, investments and results. Conversely, this means that organisations cannot optimise their return on investment. The international project management association PMI has been pointing out in the results of its studies for more than a decade that companies waste a lot of money due to inefficiently managed projects (approx. 9.4 % of the project budget according to the latest report).
Increasing time, competitive and cost pressures require new approaches.
For these challenges, the enterprise service management platform ServiceNow has created a suitable solution with the extension “Strategic Portfolio Management” (SPM; formerly IT Business Management). The focus here is on transforming strategy into results that add value to your business. It allows you to prioritise and fund your investments based on importance, create a roadmap for managing them, communicate plans and track progress. In addition, SPM teams are empowered to plan and execute their work while recording business requirements in a centralised and consolidated way.
The added values of Strategic Portfolio Management for your company as well as the description of the individual modules can be found in my detailed blog post on LinkedIn.
Would you also like to benefit from setting up an SPM environment? No matter whether you are already using ServiceNow or starting from scratch, we at HanseVision can support you in your digital transformation with over 50 ServiceNow experts. Together, we will develop individual solutions based on your corporate and IT strategies and are by your side every step of the way.
Feel free to contact my colleague Paolo Iacona or me.
For more information on Strategic Portfolio Management, please visit the ServiceNow website.
