This prioritization process should be based on a consistent framework applied to all project evaluations. They can be evaluated regarding their monetary and strategic importance for the business or with regards to improved quality of the application portfolio. Since usually there is not enough budget available to finance all projects, in the next step, projects are analyzed and prioritized. Based on these proposals, a consolidated list of all proposed projects is created, which summarizes similar projects and highlights dependencies between them and with ongoing projects. Usually, a template needs to be filled in for each project proposition, containing a short description, the expected benefit, risks, costs and other information to enable an overview over and a comparison of the projects. The starting point of project portfolio management are the project proposals, which can be motivated based on business requirements or based on possible shortcomings of the current application portfolio. A generic example of a project portfolio management process is illustrated in Figure 1.įigure 1: Generic Portfolio Management Process. ĭuring the project portfolio process a prioritization schema is applied to the list of proposed projects yielding a set of approved projects. This way they can, for example, identifying common IT needs across the business units and prioritize projects based on architectural fit. Since Enterprise Architects have a good overall-picture of the enterprise, they should take a role as advisors and assessors. Portfolio Management is a wicked problem to be solved collaboratively between business and IT. All forms of portfolio management are reoccurring processes. Note that projects chosen by the project portfolio management have impact on the future application and infrastructure portfolio. ![]() This kind of portfolio management aims at optimizing the available infrastructure the applications run on. The last form is the infrastructure portfolio management. The second kind is the application portfolio management which aims at optimizing the application portfolio of an enterprise. One form is the classical project portfolio management, which constitutes a process for deciding which projects to implement. Portfolio management can take three different forms.
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