Think about how IT investments are managed in your organization. Multi-Million dollar projects, which may or may not match the organization objectives, are awarded. Weak IT governance structures mean that organization executives don’t have clear ideas of what they’re approving and why; the IT Leadership ends up selling projects that doesn’t build good business cases for IT projects or it doesn’t do them at all; and there are redundant projects.
A strong portfolio management program can turn all that around and do the following:
• Maximize value of IT investments while minimizing the risk
• Improve communication and alignment between IS and business leaders
• Encourage business leaders to think "team," not "me," and to take responsibility for projects
• Allow planners to schedule resources more efficiently
• Reduce the number of redundant projects and make it easier to kill projects