ITIL Service Portfolio Management and Its Benefits Explained
A service portfolio describes a service provider’s boundaries and promises across all of the customers and market spaces it serves. I like to think of a service portfolio as describing the past, present, and future collection of services offered by a service provider. The figure below shows a high-level view of a service portfolio. There are. What is Service Portfolio Management? Service portfolio management is the governance processes of the service portfolio. The process is one by which a service provider can manage their investments across the service lifecycle by taking into account every service in .
With the Service Portfolio Management application, your organization can document and manage services using a standardized, structured porhfolio. In the IT industry, what kind of coconut oil is best for tanning portfolio servixe is the creation, organization, and management of a portfolio of IT services, for example, communication-related services or infrastructure-related services.
The purpose of implementing service portfolio management is to improve your IT business operations and meet customer demands by optimizing the value of services and reducing their costs. The Service Portfolio Management application helps you accomplish these goals. A service portfolio includes information related to the organization of services and data about each service, including status, as well as related items. With Service Portfolio Managementyou can manage the entire portfolio of Portfoli services available to your enterprise.
Apply modules and features to justify each service based on business need by ensuring they deliver maximum value within managed risks and costs. IT organizations looking to provide whst value to the business and meet customer needs through information technology services. These IT organizations need to fully understand the assortment of services they offer. Service portfolio management is typically a critical objective for mature IT organizations and businesses seeking to provide superior support to customers or users.
A team of people work together to create, manage, and oversee the service portfolio. There are strategic roles, what is the meaning of leachate well as operational roles, among the team members. In most organizations, people may participate in more than one role and often share roles with others.
Portfolio managers and service owners access an integrated and graphically intuitive user interface to manage and monitor portfolios and services in a central location.
Add business-related services to your service portfolio taxonomy and create dependencies to this type of service. Technical-related services are not added as part of your service portfolio taxonomy, but you can still gain insight into these services using common information CI relationship dependencies. For details about subscribing to this premium upgrade, refer to Service Owner Workspace. What is Service Portfolio Management?
Service Portfolio Management is a single, centralized application that aggregates the information portfolio managers and service owners need to: Design a pipeline of services that meets the greatest needs of the organization. Prevent unnecessary service duplication and overlap. Quickly identify and retire low value services so resources can be redeployed.
The service portfolio typically consists of services in three phases: Service pipeline: Status of services that are not yet operational or available for use.
These services are typically proposed servicee services in review for suitability. You can leverage this aspect of the portfolio to analyze and manage the future growth and time line for each service.
Service catalog: Overview of all services that are operational and available for use, as well as design and development. These services typically have representation in a request catalog. Retired services: Overview of services that are no longer operational or available for use. This overview can include any essential historical information. Transform your focus from IT assets and associated costs into services that you can price and link to business value.
Your IT organization can go how to be a good tank a business cost center to a value-added service provider offering transparency into operations and spending. Align your IT services to strategic business goals. Meet the service demands of your customers and end users. Make better decisions regarding new service creation, improvement, delivery, and retirement. Improve productivity of IT support staff by better identifying and increasing focus on the services that offer the most business value.
Increase cost-efficiency by consolidating duplicate services, enhancing under-performing services, and how to lower your natural gas bill low-value, unnecessary, or unused services. Document the various services offered using a standardized, structured format.
Link offerings to items in a consumer-friendly service catalog. Define service offerings and the system automatically begins to track performance against defined metrics for operational service offerings. If outages occur, the platform handles availability tracking. Service Owner Workspace tracks and measures the performance of services and service offerings within multiple portfolios across a variety of common portfoloi metrics.
Service Owner Workspace provides these ks features: Metrics configuration. Service Offering Estimated Spend.
2 VISITOR COMMENTS
Service Portfolio Management is a single, centralized application that aggregates the information portfolio managers and service owners need to. Design a pipeline of services that meets the greatest needs of the organization. Prevent unnecessary service duplication and overlap. Hosting dedicated roles for service portfolio management, offering management, product management, or business liaisons that work with third parties to provide capabilities in the catalog. Expanding the catalog to create a marketplace that attaches financial metrics and revenue targets to services by using cloud characteristics such as. Feb 02, · The Service Portfolio The service portfolio is a comprehensive view of all services. This includes services that are still in development, in pilot, being phased out, retired, or internal-only services that aren't directly ordered or used by customers.
In terms of available best practice, service portfolio management is an enabling part of ITIL and something that IT organizations should be undertaking. On the surface, service portfolio management seems simple. The service portfolio is typically viewed in three parts :. The real value of service portfolio management comes from justifying needs based on inherent business value. This information enables managers to assess the quality of the services, as well as the associated costs. Ideally, managers can decide which services customers currently use, anticipate what they may need soon, and what they no longer need.
Some companies utilize product portfolio management and assume that it and service portfolio management are the same concepts and provide the same business justifications. Because as their names suggest, there are differences between products and services , and using them interchangeably does a disservice to the provided customer value as well as the enterprise bottom line. Traditionally, products are the delivered, purchased good that are tangible. Of course, in IT, something tangible is commonly a digital tool such as software.
Services, on the other hand, offer at least some intangible value. Whereas a product might be an application that solves a specific problem, the service can include customer service, transition assistance, and management. And the service facilitates the outcome that the customer wants and expects.
Each new service, or change to an existing service, should be justified by clear business needs in order to establish the value. And service portfolio management should track these investments through the lifecycle of the service, from service design through transition and operation, and eventually to retirement and decommissioning.
It should also monitor the business strategy for the service, and the ability to execute on this strategy, such that these are dynamic and transparent. While service portfolio management is tracking services, PPM is tracking projects in the same manner — making decisions on investments.
But the problem with PPM is that it often stops short, when the project ceases — and as a new service reaches customers on a daily basis — with PPM no longer measuring value at this point. This can create a rift between App Dev and IT operations, with a difference between what the business expected to the project to deliver and what the customers actually receives in service terms.
Thus organizations need to recognize that service portfolio management and PPM are related, and that both have their place in a successful ITIL deployment. With industry experts stating that service portfolio management should determine the role of PPM, and not the other way around. Employing service portfolio management may involve a radical re-do for all business units involved, but its benefits — and the benefits of a transparent service catalog — are measurable:. Ultimately, tracking the value, cost, and risk of every service your service organization provides also helps to position it as indispensable to your customers, because you know — quickly — how valuable a service is.
As already mentioned, the service portfolio management process is now the portfolio management practice in ITIL. So, how is your service portfolio management? What would you add in terms of benefits and tips? Please let me know in the comments. He works at BMC Software and focuses on creating best-in-class web content.
Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Share on facebook. Share on twitter. Share on linkedin. The service portfolio is typically viewed in three parts : The service catalog which provides an overview of all services that are visible, and buyable, to customer.
This portfolio segment also details the future growth and timeline for each service. The retired services catalog which details all services that have been retired and stores any essential historical information. With a well-managed service portfolio helping to answer these questions: Why should a customer purchase this service?
Why should a customer purchase this service from our organization? What are our strengths and weaknesses and our priorities and risks? How do we allocate our resources and capabilities? Service Portfolio Management Vs. Product Portfolio Management Some companies utilize product portfolio management and assume that it and service portfolio management are the same concepts and provide the same business justifications.
Project Portfolio Management Each new service, or change to an existing service, should be justified by clear business needs in order to establish the value. There are definitely commonalities with project portfolio management PPM … While service portfolio management is tracking services, PPM is tracking projects in the same manner — making decisions on investments.
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