ServiceNow IT Business Management becomes Strategic Portfolio Management

ServiceNow recently announced that its ServiceNow ITBM products will now be known as Strategic Portfolio Management (SPM). The renaming is intended to better reflect the products' focus.

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What is Project Portfolio Management about?

Project Portfolio Management, or PPM for short, is the continuous process of planning, prioritizing, overall control and monitoring of all projects in an organization and thus deals with the selection and administration of the optimal project-oriented initiatives that achieve the maximum business value or the highest possible return on investment.

Project Portfolio Management is a dynamic process that enables management to make data-based decisions about the best possible use of company resources in order to focus on projects that are feasible on the one hand and strategically aligned with the company’s goals on the other.

Since it is possible that some projects within a project portfolio are in competition with each other, the overarching task of portfolio management is to select and carry out the suitable ones for implementing the organizational strategy. Of further interest is the reduction of the resulting cross-project risks and to achieve a more realistic resource capacity planning.

Another important goal of project portfolio management is to create a coherent and transparent view within a company.

Project Portfolio Management is not to be mixed up with a company's financial portfolio although your IT projects are also investments that fall into a (project) portfolio in which you control risks and increase both your return and your value.

Disciplines of Project Portfolio Management

Do any of these sound familiar to you?

No centralized place to request projects & no visibility of these
No visibility of all the work that is going on
No visibility on all the projects in the portfolio
Exceeding budgets
Difficulties to anticipate and plan for future demands

Lack of visibility to key milestones and performance
Poor communication of project status and performance
People don’t know how to initiate new projects
Long delays and missed deadlines
Not having a clear picture of all the investment dependencies

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Features of project portfolio management

Project Portfolio Management can support your company in many ways and across several departments, while it reduces risks. It also helps with focusing on the most-valuable projects and provides necessary data to decide on an efficient usage of all your resources.

To dive into Project Portfolio Management, it is important to know the different main processes and what their main purpose is. Neither of these processes is less important than the other and they moreover influence one another and are dependent on each other to a certain degree.

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Project Portfolio Management brings in a lot of benefits and advantages in your organization

- these are the main advantages:

Basis for a holistic planning, optimization & coordination of all activities related to projects

Foundation for an efficient & effective utilization of scarce resources (personnel and financial)

Enablement for detecting chances as well as risks early throughout the project and program lifecycle

Support for a profound investment decision making process

The added value of Capture

With our 10+ years of experience we know that successfully implementing a Project Portfolio Management solution is more like a journey than a sprint. In this journey we guide and support our customers by adding our expertise across all industries.

Unparalleled PPM experience

Diverse & talented team

Focused on customer outcome

Agile implementation approach

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Boost your business with Project Portfolio Management

With Capture SmartStart you can jump start your PPM processes with our experts,
pre-configured processes from best practice, proven implementation methodology and sustainable support services - no matter where you are on your PPM journey.
You benefit from no financial risk – no product risk – no methodical risk.
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Get the most out of your Project Portfolio Management investment

To support you all the way on the long journey and make you and your project portfolio management even more successful on the long run, we offer a variety of services for every PPM maturity stage. Regardless of whether you haven ́t started your journey yet, or you are already midway through to the finish line.

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ServiceNow IT Business Management becomes Strategic Portfolio Management

ServiceNow SPM - What’s in the box - Project & Portfolio Reporting for Everyone!

Get the most out of your PPM investment!

Accelerate Clarity development & delivery with Configuration Control for Clarity (3C)

What is Project Portfolio Management about?