The benefits of Application Portfolio Management
Application portfolio management is such a framework which is used to manage a firms It software applications as well as software based services.With application portfolio management, managers are provided with inventory of the software applications as well as metrics that are used in illustrating the benefits acquired by the business when it applies each these applications.
A good application portfolio system utilizes a system of scoring algorithm to create reports about the value of each application as well as the health of the whole IT infrastructure.With such metrics such as the time the application has been in operation, interrelation of a particular application with other applications as well as the number of times the application is put in use in a given period will help business owners to make a good decision on whether to update, keep or replace a particular application.With APM the organizations can be able to simplify the IT support as well as decrease the cost incurred in supporting underused, redundant or applications which are obsolete.
Anther benefit of APM to an organization is that the firm will be able to identify as well as rationalize all its applications and thus understanding the cost they incur, risks as well as the value they have to the business.I n order for any organization to be able to increase efficiency with its applications, then there is need for it to use APM.
Another reason why any business should use application portfolio management is for the purposes of optimizing the transformation of IT through benchmarking the quality of the application, its productivity as well as the alignment of the business.
APM also helps firms In determining the best methods of leveraging new as well as existing technologies for them to deliver maximum value to the firm and meet the needs of increased used, it will also help in identifying the criticality of the mission as well as the risk profile of very application.
It is recommendable that managers pick on applications which will fit the application portfolio management process thy have in the best way.A good APM will have a work flow which is inherent in its designing and one that will facilitate the primary steps so the process.With APM, there will be business development for each and very project.Due to this, a value maximizing, flexible as well as quality application will be very crucial to build as well as sustain the application management portfolio.It will be important for managers to exercise caution as they choose the APM to ensure that they pick on the best to suit the needs of their organization.