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项目投资组合概述 IT portfolio management——Balancing risks and rewards of projects yields significant returns.
Investing your entire nest egg in one risky Enron-like venture is unwise to say the least. So why do so many IT organizations bet the bulk of their budget on one huge risky project? Diversification works well for your stock portfolio, so why not apply it to your IT project portfolio as well? That's the point of IT portfolio management, a methodology for ensuring that every project within an IT organization's "portfolio" is analyzed and balanced for risk and return. When implemented right, IT portfolio management ensures that the entire range of IT projects performs successfully in real world conditions.
In its most basic terms, IT portfolio management consists of three steps. The first is to list in a central place every IT project in the organization, together with its resource requirements and stated objectives. Unfortunately, that first step is where many organizations stop the process. But the key to reaping the true benefits of IT portfolio management is following through and evaluating the projects for risk and return. Step three, ongoing risk assessment, is also often overlooked. Risks need to continually be assessed as the project progresses.If the benefit no longer outweighs the risk, the project needs to be revamped or even cancelled. Another area people need to focus on is value, too often, IT is focused on delivering projects on time, and on budget, when the real concern should be whether the intended value was delivered. If the project goes like clockwork, but doesn't gain acceptance, it's still a failure.
When implemented correctly, IT portfolio management ensures that the projects IT implements are those that will deliver the most value to the business, an important point in this lean era of tight budgets.
项目投资组合目标 As with any investment portfolio, the IT portfolio should be managed with three goals in mind: maximizing the value of the portfolio, aligning the portfolio with business goals, and balancing the risk/reward potential within the portfolio.
Maximizing IT Portfolio Value. With many corporate executives demanding that CIOs demonstrate value, maximizing portfolio value is the goal most frequently mentioned among IT organizations. The tools we recommend in this effort include financial indexing or scoring models such as economic value sourced (EVS), economic value added (EVA), risk-adjusted net present value (NPV), return on investment (ROI), and return on net assets (RONA).
Aligning the Portfolio. Strategic alignment is another important goal for portfolio management. Typically a bottom-up or top-down approach (or a combination thereof) should be employed to systematically align IT value with corporate objectives.
For example, if the business strategy emphasizes growth, IT spending patterns should reflect increased support for business or market development. The strategic fit and link to the business strategy make the balanced scorecard technique an effective approach for exposing value while managing the portfolio across a range of conflicting business objectives.
Balancing the IT Portfolio. Finally, portfolio management enables companies to balance their portfolio, considering various factors that must be weighed to ensure the right mix of investments and initiatives. These factors include:
o Term - Short to long
o Risk - Low to high
o Size - Small to large
o Scope - Local to global
o Expense - Moderate to major
o Posture - Offensive to defensive
o Position - Entrant to dominant
项目分类模型
Run the business 项目的组合分析 "Run the business" (RTB) investments involve keeping the business operational. Items falling under this category often include utilities, maintenance contracts, and disaster recovery, with the following metrics used to measure the effectiveness of such investments:
·Budgeting: Account allocations, cash flow, project cost and schedule
·Cost reduction: Rework, defect tracking, inventory
·Maintenance fixes: Effort, staffing levels
·Service-level agreements: Availability, downtime, mean time to repair
·Customer satisfaction/retention
The nature of RTB investments fall into two areas.
·Core. Spending in this category provides mission- and business-critical services for the front office (sales order entry, customer service) and back office (payroll, accounting, HR). Common spending entities in this category include electricity, lighting, heating/air conditioning, telephone dial-tone, network services, data center operations for specific services, IT vendor support, backup/restore, and disaster recovery.
*Business risk: Because assets in this category have instantiated processes and use does not typically change, the business risk potential is usually low.
*Business reward: Business reward potential in this category ranges from medium to high.
·Non-Discretionary. Spending in this category mitigates the impact of organic growth in consumption of core/operational assets such as infrastructure (e.g., server, storage, middleware, DBMS, network), operations, and related processes on existing IT service performance. Typical external influences that modify spending decisions in this category include business climate changes and corporate events or activities (e.g., mergers, acquisitions, divestitures).
*Business risk and reward: Because spending activity in this category centers on expanding existing capacity to meet growth requirements (rather than to introduce new services), it represents an ideal investment to actually reduce business risk and stabilize business reward.
grow the business 项目的组合分析 Directly above the horizontal line in Figure 1 are "grow the business" (GTB) investments, which are made to expand the organization's scope of products and services.
Investments here could be for upgrading software, adding incremental capacity, or developing skills within the staff through additional training or other efforts. Metrics to measure the success of these investments include:
Financial analysis: ROI, EVA, capital, IT budget/revenue
Investment planning: Risk analysis, scenarios, portfolio planning (three-year model), supply chain analysis
Enhancements: Project phase analysis, cost of quality
Delivered information value
Customer loyalty: Lifetime value
Transform the business 项目的组合分析 "Transform the business" (TTB) investments involve moving into new markets.
Sample TTB investments include new business ventures, mergers and acquisitions, new products, application package additions, outsourcing, or the hiring of employees with new skills. Possible metrics in this area include:
New market share
Modeling: Portfolio analysis, future value
GTB and TTB investments fall into three areas.
Discretionary. Spending in this category affords new levels of process efficiency and effectiveness that the business perceives it will need but that current assets (plus non-discretionary enhancements) cannot justifiably deliver. Assets in this category influence business performance through process agility (effectiveness) or the ability to respond to new service requests much more quickly. Internal controls must be implemented along with new assets to ensure that integrity of all processes (particularly financial) remains intact throughout the changeover and post-changeover periods.
Business risk: Business risk is moderate for this category. Although the new asset is intended to be a functional replacement, thereby minimizing process disruption, its architecture typically differs from the original. Therefore, it introduces business risk that has been known to make some businesses unviable.
Business reward: Business reward potential in this category is moderate. Assets in this category provide a moderate increase in efficiency over the assets they replace (e.g., legacy services versus enterprise resource planning).
This benefit is typically short-lived and therefore should not be a primary investment driver.
Growth. This category includes project-based spending that creates new IT services to deepen an enterprise's market penetration. Successful services in this category will logically align with established commerce chains.
Business risk: Business risk in this category is moderate to high, measured by the amount of brand recognition and levels of customer/partner relationships that can be or are being leveraged.
Business reward: Business reward potential is moderate to high. Assets in this category provide incremental revenue streams from an established client base or similar market buyer.
Venture. This category includes project-based spending that creates new IT services to broaden an enterprise's reach to new, untapped markets. Emphasis is on the speed required to gain control of a new market via first-mover advantage.
Business risk: Business risk is highest in this category: Many existing processes will be exposed to unplanned events.
Business reward: In this category of spending, business reward potential ranges widely. Using the venture capital analogy, the rewards of successful venture initiatives should offset the relatively high rate of failure among other such initiatives.
           
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