Service Portfolio Management (SPM) is a strategy for demonstrably improving the business value of IT. With SPM, IT investments and resources are translated into things the business cares about – services. By using integrated service and portfolio management solutions to support a Service Portfolio Management strategy, IT and the business can collaborate on how service function, quality, cost and business benefit should be balanced to maximize business value. Then IT can better guide its strategic investments and operational resource allocation throughout the service lifecycle. Over time, collecting information on key service value dimensions – cost, function, quality and business benefit – empowers a fact-based investigation into optimizing the service portfolio itself, such as where to invest, divest or even retire services.
IT investments and resources can continually be adjusted to meet business requirements for service quality, cost, function and benefit by using an SPM strategy. Benefits include reducing costs, improving business satisfaction, reducing waste, and continually improving service quality.
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