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Thursday, January 26, 2012

Goals, Purpose and Objectives of Service Portfolio Management

The goal of Service Portfolio Management (SPM) is to ensure that decisions to invest in IT services are sound and are fully aligned with the needs and priorities of the business. Once a decision is made to invest, the investment must be managed through its lifecycle, and SPM’s goal here is to ensure that the investment delivers optimum value to the organization. As a management support system, the Service Portfolio enables the organization to answer strategic questions about its services, customers and pricing, as well as helping it set priorities and plan resource allocation.

For any organization, taking up a service involves time, effort and a lot of money. So, they would want quick and good return on investment plus value for the money invested.

An objective of SPM is to ensure there is an effective methodology for the evaluation of potential investments. Once an investment has been agreed, the purpose of SPM is to ensure that the investment is managed effectively throughout its lifecycle. Among other things this is about ensuring proper governance arrangements are in place, that investments and their business case are reassessed against changing conditions both within and outside the organization and that the realization of benefits is properly managed.

The objectives of SPM are:
• To develop and maintain a Service Portfolio that provides a complete picture of all services including their status
• To establish conditions and requirements for inclusion of new services in the Service Portfolio
• To ensure a Service Catalogue is developed and managed as part of the Portfolio,
• Agree on the rules for transferring services to the Service Catalogue as they move into Transition and out of the Catalogue and as they move into retirement
• To ensure that the Service Portfolio meets the functional and performance requirements of its users and that its performance, availability and security meet agreed requirements
• To ensure that management reports are produced in line with agreed reporting requirements.
SPM is probably one of the most important ITIL Processes. If a Service Portfolio is not managed efficiently, the chances of it being a success are pretty slim.

Prev: Introduction to Service Portfolio Management

Next: Components of a Service Portfolio

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