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IT Portfolio management step by step - Maizlish B

Maizlish B, Handler R. IT Portfolio management step by step - John Wiley & Sons, 2005. - 401 p.
ISBN.: 978-0-471-64984-8
Download (direct link): itportfoliomanagement2005.pdf
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Exhibit 5.44 outlines the specific tasks and activities involved in developing the communicating stage. The critical activities of the tasks addressed in this section include:
Identifying stakeholders
Creating communication packages
Delivering communications
Identify Stakeholders
Communicating the portfolio creates a consistent approach for driving awareness, goals, status, and what needs to change. The awareness needs to be driven by a communication plan that tailors messages to specific audiences and makes sure they are received and acted upon.
STAGE 6: COMMUNICATING 263
EXHIBIT 5.44 COMMUNICATING STAGE TASKS
- Iterate Throughout These Tasks-
Identify Create Deliver
Stakeholder Communication Communications
Packages
Identify target audience Packages created to communicate Deliver message to
- What will make these about portfolio and associated various parties
individuals and groups risks and rewards
successful? - Tailored content
- Method and timetable
- Craft common message
- Metrics for communication
effectiveness
As Exhibit 5.45 shows, different stakeholders will have different pain points and different priorities. Therefore, the communications plan will need to take into consideration the varying criteria of what messages are conveyed, the frequency of the messages, and the media that should be used. Determining what will make the stakeholders in Exhibit 5.45 successful and tailoring communications and results through a dashboard and other media are seminal aspects of communications.
Create Communication Packages
Communicating the plans, goals, objectives, policies, procedures, and guidelines of IT to the entire company is essential. Communication of IT portfolio management to key stakeholders is equally necessary. A reasonable balance to who gets what message to manage expectations is critical. Care must be taken not to position IT portfolio management as another silver bullet approach that will solve all company issues without change pain. Conversely, enough potential and actual value and benefits must be communicated to keep people engaged.
Communicating the achievement of critical requirements and attainment of business value must occur. This has a positive impact on keeping employees vectored in the same direction and provides valuable information regarding the priorities of the company, creating alignment in the rank and file. Often this is done with some of the visual tools mentioned throughout this book. These tools must constantly be updated. Examples include:
264 CHAPTER 5 BUILDING THE IT PORTFOLIO
exhibit 5.45 understanding key pain points among
stakeholders

Stakeholder High-Probability Pain
CEO Business units losing market share; overhead killing profits; information quality varies widely,
confused debate among business unit IT directors; strategic planning fast (or nonexistent),
implementation slow; business units do not innovate; each business unit has unique IT story
CFO IT ROI impossible to calculate; IT budget is expense, not investment; corporate revenue
declining; logistics costs rising; business unit financial data unreliable; business unit cannot
answer financial questions promptly; business units vary in responsiveness
Business Slow time to market; competitors innovate faster; need/cannot get new intelligence;
Unit VPs corporate/third-party information not reusable; sales dropping
CIO Multiple similar but unleverageable development projects; maintenance, not innovation; line IT
directors on separate planets; one site --- one IT vision; IT budget is being slashed, not treated
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