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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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Chapter 5 walks the reader through the stages and associated tasks and deliverables of the IT portfolio management process. Suffice it to say, a simple understanding of these stages will enable a skeleton of the plan to be created. As you read this book, the skeleton should evolve into a workable and effective plan to apply IT portfolio management to your specific situation.
COMMUNICATION PLANNING
Communication is critical to the success of any change initiative. It is not a web site or an onslaught of unplanned e-mails—that is spam! Effective communication involves preparing messages for a specific audience, delivering those messages, and validating they were received. Many organizations have internal communication
56 CHAPTER 2 PLANNING FOR IT PORTFOLIO MANAGEMENT
departments because of the criticality of effective communication to the successful operations of an organization. Leading IT organizations have an internal communication department devoted to communicating IT issues to the appropriate stakeholders. In general, people abhor change much the way nature abhors a vacuum. Stakeholder analysis is the foundation for effective communication. It identifies the audiences, their issues, and how they should be communicated to. From this foundation, a plan must be derived that is lockstep with the execution plan and provides targeted messages to support organization change management.
Exhibit 2.7 shows an effective communication planning process. The activities that must occur are:
1. Building awareness
2. Soliciting support
3. Facilitating collaboration
4. Obtaining approval
5. Communicating results
EXHIBIT 2.7 COMMUNICATION PLANNING
Build Awareness
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
Solicit
Support
Report Ongoing Status
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
Facilitate
Collaboration
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
Obtain
Approval
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
Communicate Results
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
Provide Feedback
Define Purpose Identify Audience Determine Mode Determine Frequency Craft Message Deliver Communication
IT PORTFOLIO MANAGEMENT SOFTWARE SELECTION 57
The key point is that key stakeholders and their issues must be identified, purposeful messages must be delivered to the key stakeholders in a manner consistent with their preferences for communication, and validation of receipt and understanding of the messages must transpire. Effective communication is key to the success of IT portfolio management. Without it, IT portfolio management will appear to be an academic exercise devoid of value. It will fail.
IT PORTFOLIO MANAGEMENT SOFTWARE SELECTION
There are excellent IT portfolio management software products. In Chapter 6, we provide a template for readers to consider as they prepare a request for proposal (RFP) or request for information (RFI) from leading IT portfolio management solution providers. During the planning phase, attention must be given to solution providers. IT and business alike have a tendency to jump toward adoption of a solution, hoping it will provide silver bullet functionality. It will not! Many IT portfolio management efforts have been hugely successful with simple office automation tools (e.g., Microsoft Excel). As the process and size of the IT portfolio grow and different views of the portfolio are required to support different stakeholders, simple office automation tools falter.
Software selection is dependent on functional requirements (i.e., what is required to support the objectives and corresponding tasks and deliverables of the process), the resources available including funding and people/skills, and the magnitude of the IT portfolio. In general, the three categories of IT portfolio management solutions are:
1. General IT portfolio management solutions
2. Project/discovery portfolio management solutions
3. Asset portfolio management solutions
The initial focus of IT portfolio management is usually centered on projects. Asset and discovery portfolio management are not typically a primary considerations. Project portfolio management, general IT portfolio management, and office automation solutions should show up on the long list of candidates. Conversely, if the asset portfolio is the initial focus, general IT portfolio management solutions, asset portfolio management solutions, and office automation tools make the short list; project portfolio management tools are not identified as near-term needs. If the entire IT portfolio is the current focus, all tool categories are fair game. The authors predict that all three portfolio management solutions will converge under a single solution offered by many competing entities. Chapter 6 provides more detail on the current and future trends in these markets.
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