IT Best PracticesProject Portfolio Management

IT Portfolio Management Best Practices

More IT departments are being tasked with the development of new products and workflows, in addition to their more traditional tasks. Therefore, as Angela Bunner describes in this article appearing in, the IT department is now in need of portfolio management and puts forth some best practices to follow.

IT Portfolio Management Practices

These best practices are designed to help IT managers hit the ground running, while also ensuring that their department’s work is closely aligned with the organization’s long-term goals.

  1. One Step at a Time: If your company has not adopted a formal approach to IT portfolio management, refrain from going from zero to one hundred overnight. Instead, approach it in a phased manner. For instance, begin with one business unit or IT area. This will help influence the management, and also help you iron out any flaws before embarking on a full-blown strategy.
  2. Measure Results: Measure the long-term benefits of completed projects – this is one of the keys to successful portfolio management. Compare expectations from the initial stages with the data collected over months or even years. Now, if discrepancies are noticed, the project planning and approval process must be altered accordingly.
  3. The Right Tools: Successful IT portfolio management is only possible with the appropriate IT portfolio management software. As such, managers should be able to track and report on a wide variety of activities across the enterprise. To this end, cloud-based portfolio management solutions like Clarizen have become increasingly popular, as they are easier and more cost-effective to implement. In addition, these solutions allow real-time reporting and collaboration tools that older solutions can’t quite provide.

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Sapna Hiremath

Sapna S Hiremath is currently working as a Content Specialist Lead for CAI Info India. With experiences of having worked for newspapers after pursuing a Master's in Mass Communication and Journalism, she has worked in the thriving fields of Search Engine Marketing, online shopping and healthcare. Being an avid traveler, she likes being in the serene landscapes of nature, but also likes being around friends.

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