When executed properly, portfolio management plans are a critical asset to the CIOs and heads of IT leading a company’s tech charge. They not only help team members gain control over their IT projects, but they help deliver value to the business by capturing a wider look of the organization’s overall IT strategy and objectives.
In an interview with Ronald White, the former VP and Chief Process Improvement Officer of O-I, the importance, or rather necessity, of incorporating strong IT portfolio management was discussed. Here’s what he had to say:
In some ways, the question isn’t about delivering a return, but about convincing a business partner there IS a return to IT investment. I do not think I’ve ever seen an IT department that does not have a difficult time convincing their business leaders that IT investment can compete toe-to-toe with other investment options outside of IT from a return perspective. IT Portfolio Management can provide a window and hard data to help an IT department make their investment case and without investment, there is no return.
Further, strong IT portfolio management can help prioritize and focus an organization, so a team can do a few things very well, vs. doing many things poorly. It can give IT leaders a process for selecting the most impactful initiatives which will help deliver more value and further justify IT investment.
What are you doing for your organization to challenge ROI pushback and put forth a solid IT portfolio management plan? Discuss your experiences and trials at the CIO Strategy Meeting series alongside your fellow IT leaders, and share your thoughts with us on LinkedIn and Twitter.