Understanding is the first step to success, because once you understand a concept you can better deliver on it. In a post for ITSM Professor, Professor P. Ross S. Wise elaborates on the use and power of the service portfolio.
According to Wise: “The Service Portfolio represents the complete set of services that is offered and managed by a service provider. It corresponds to the entire lifecycle of all services and is made up of three sections.” It begins with the service pipeline, which will dictate the future position of the organization and how well they can meet customer requests. The next aspect is the service catalog, which is what the service provider is presently delivering or maintaining. The final factor is the retired services. These are the services that the organization has classified as no longer valuable, but they still need to be continued to support other entities.
The bottom line is that the service portfolio as a whole is a vital tool in helping the organization define its position because it helps to measure them against other companies in the industry. Wise advises to always remember that there is competition everywhere. The service portfolio helps the customer, but it will also help the organization keep a leg up on this competition by answering some important questions:
- Who precisely are the customers, and what do they want from a service?
- Why are these services worthwhile for the customer to invest in?
- What is the pricing?
- What are the strengths and weaknesses?
- What are the priorities, and how should the resources be allocated?
- What are the risks?
Service portfolio management helps to ensure that there is a good mix of services to respond to all of these questions. Additionally, it helps to show the organization an accurate depiction of any risks and a better evaluation of the services.
You can read the original post here: http://www.itsmprofessor.net/2016/05/the-service-portfolio-and-portfolio.html