Today’s CIOs face stark realities. Flat budgets, rising costs, doing more with less. Yet the demand for increased performance from IT services continues to grow. To stay relevant, smart CIOs are adopting the principles of Enterprise Portfolio Management – positioning themselves well to take the lead on all investment strategies for business digitalization.
CIOs carry a heavy burden
1. The IT landscape is daunting. Legacy systems, disparate technologies, functional silos and unrealistic demands are outstripping CIOs’ ability to manage all this complexity.
2. Financial transparency is next to impossible. CIOs have no coherent information management system to streamline IT planning and forecasting.
3. It’s increasingly difficult to position IT as a value generating function. Rising operational costs and flat budgets suppress investment in innovation needed by CIOs to drive a competitive advantage.
4. Poor project planning and modest success rates waste precious budget and resources, impacting the rate and speed of IT transformation.
Rationalize costs to fund innovation
Become chief investment officer
1. Connecting projects and associated IT assets with business capabilities unveils a dynamic blueprint of your entire IT environment, providing a framework to align IT investments with business strategy.
2. A dynamic model provides the financial transparency required to streamline IT budgeting and forecasting, revealing cost of ownership of services and assets and automating chargebacks.
3. Powerful analytics help model cost reduction and transformation strategies, facilitating collaboration with business partners to discuss trade-offs and finalize investment decisions.
4. Transformation roadmaps provide a comprehensive view across all demand, enabling IT to gauge the cross portfolio impact of proposed changes and visualize future-state architecture.
Execution & measurement
1. Standardize business case development to select project requests that align with strategic initiatives and gain a better understanding of resource utilization impact.
2. Automate status reporting and variance analysis to quickly identity underperforming initiatives.
3. Dynamically reallocate funds across the portfolio to optimize spend and drive greater ROI.
4. A robust benefits realization framework provides the basis for identifying IT investments failing to meet original targets, driving accountability and continuous improvement.