Using PPM to rationalize software investments

Although it's not the primary use of project portfolio management (PPM), it can be useful to use a PPM approach for rationalizing software investments. First, make sure you have a good understanding of the business area's work flow. Create a technical architectural blueprint and direction, which is critical to successful software evaluation, and understand the technical architectural target, which is required to enable migration from one application to another. Group applications are needed to satisfy the business needs of a specified business area and to evaluate them within the context of business value and technical quality. Then, define the software modernization strategy by prioritizing each project and by placing projects on a high-level timeline to illustrate sequencing, interdependence and estimated delivery time frames. Next, estimate the resources required to execute the plan in terms of internal and external IT human resources, business unit human resources, and capital expenditures. Finally, bring everything together into a structured strategy document that describes a comprehensive execution approach that manages all of the individually identified projects as a coordinated program.

Learn more about starting a software portfolio management practice with PPM:
- read the article at CIO Update

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