Organizations need to align project and application objectives within their portfolios with business goals in order to derive maximum value from IT initiatives. Because applications vary in size and use, they do not contribute equally to the financial flow and it is important to create an application portfolio to track applications, manage their effectiveness, and ultimately, generate the desired business outcome.
The five important Application Portfolio Management (APM) best practices include:
1. Create a full inventory of all applications.
2. Eliminate redundant applications.
3. Identify the business value and function of each application.
4. Map your applications in a TIME chart.
5. Optimize your resources against your applications.
To set up APM solutions using extensive best practices, partner with Innotas.
Innotas offers cloud-based APM solutions that are easy-to use and rapid-to-deploy. Your IT department’s inventory of applications, projects, and portfolios can be set up with a centralized, cost effective system that give you visibility into what applications are serving their purpose. With a strong foundation in APM best practices, Innotas provides complete visibility across both the organization in order to improve decision making.
To learn more about APM, take a look at our whitepaper.