Service Portfolio Management

This article answers following queries:

·         What is service portfolio?

·         Explain service portfolio

·         What is the purpose of service portfolio management?

·         What are the objectives of service portfolio management?

 

Service Portfolio

ü  The service portfolio represents the commitments and investments made by a service provider across all customers and market spaces. It represents present contractual commitments, new service development and ongoing service improvement plans initiated by Continual service improvement.

ü  In general, a portfolio is a group of investments that share similar characteristics. They can be grouped by size, discipline or strategic value.

ü  The portfolio also includes third party services which are an integral part of service offerings to customers. Not all third party services are visible to customer. Some may be visible, while others are not.

ü  Service portfolio describes a provider’s services in terms of business value, articulating business needs and the provider’s response to those needs. Please be notified that an outcome based definition of a service helps IT organizations to move beyond Business-IT alignment towards Business-IT integration.

 

Service Portfolio Management

·         Is a dynamic method for governing investments in service management across the enterprise and managing them for value

·         Approach helps prioritize investments and improve resource allocation

·         Ensures that the service provider has the right mix of services to balance the investment in IT with the ability to meet customer or business outcomes

 

Objectives of service portfolio management

§  To maintain the definitive portfolio of services provided

§  To evaluate how services, achieve their strategy and to respond to changes

§  To determine which services to provide based on potential return and acceptable risk

§  To track the investment in services throughout their lifecycle

§  To control which services are offered, under what conditions and at what level of investment

§  To analyze which services are no longer viable and when they should be retired