6 Steps for implementing portfolio management

Portfolio management helps companies achieve strategic goals by centralising and managing multiple projects and programmes. With the help of portfolio management, you can improve the coordination and implementation of strategies, optimise your enterprise’s choice of projects, and also easily track the progress of different projects.

Portfolio management provides your corporate stakeholders – from the project managers to the company executives – with a good overview of the projects and also their statuses. The process of continual reporting ensures that potential risks are taken care of before they become unmanageable.

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SIAM – What is Service Integration and Management?

SIAM (Service Integration and Management) is a framework that is used in managing multiple suppliers of IT services. It was initially conceived and developed to help large IT enterprises better control and manage their multi-sourced operations. The type of companies that benefit a lot from implementing SIAM are those with a huge number of diverse internal and external suppliers.

SIAM is not a process, but an adaptation of service management that deals with managing the delivery of services, which is provided by more than one supplier. It is a set of practices and service capability in an approach and model that elaborate, build on and also complement various parts of the ITIL practice.

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What is business relationship management in ITIL?

BRM or Business Relationship Management focuses is a strategic ITIL process and is focuses on anticipating and fulfilling the current and future needs of the business and customers by the IT service provider. This is detailed in the Service Strategy phase which also contains:

  • Demand management
  • Service portfolio management
  • Financial management for IT services
  • Strategy management for IT services
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5 Benefits of Stakeholder Engagement

Business is about managing relationships, both bad and good. Successful businesses always have to be aware of who will hold the organisation back and who will help them move forward. For making short-term decisions and achieving long-term goals, it is crucial that organisations create stakeholder maps for each operational and change activity. This will help to identify supportive stakeholders (as well as resisting ones) and will be effective in taking the company to the next level.

If you are a Project Management Professional or PRINCE2 Project Manager, you would have come across stakeholder engagement and management during your course. It is the duty of a project manager to identify and assess stakeholders, and you must come up with plans and ways to engage stakeholders in a project. There are times when you might be faced with “hostile” stakeholders and that is when the knowledge acquired from the stakeholder management training is put into good use.

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What is MoP? How to Implement MoP in 100 Days?

MoP Management of Portfolios provides a set of techniques, principles and practices to help companies make sure that their projects and programmes achieve maximum ROI and contribute to strategic objectives. The key capabilities of MoP are:

  • Facilitating business change
  • Supporting business outcomes
  • Managing potential risks in line with company needs
  • Optimising customer experience
  • Improving continually
  • Demonstrating value for money
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