Building An IT Portfolio Management Function

The IT portfolio represents the collection of projects, expenditures, and existing technology investments. IT portfolio management includes oversight, management, and control of the current and proposed components of the portfolio. Assembling the proper team and processes for the ongoing evaluation of the IT portfolio is critical to its effectiveness. The data and talent to properly manage the portfolio usually resides with different groups within the IT organization — the office of the CIO, the IT finance organization, and the project management office (PMO) — with different organizations taking the lead depending on specific organizational requirements. The end product of such an analysis will allow the IT and business steering committees to act and react appropriately. Chartering the proper people with the time and authority to manage and communicate the makeup of the portfolio is critical for success.