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Education

IT Service Portfolio Management Tools

 

Portfolio management tends to be vital for an organization in order to provide good IT or business services to customers. It helps to acquire better governance requirements and enhances better deliverance of services. The services portfolio management is segment of latest service management practices that comes under the guidance of ITIL framework, and it is advisable for IT service organizations undertake this practice to ensure the streamlined provision of services to their clients and customers.

Superficially the IT service portfolio management appears to be simple, but it carries a full-fledged IT and business services available for customers. Suppose this practice is used to its fullest, then it will indeed flourish the workforce of an organisation. It is remarkably noticed by surveys that the IT service portfolio management isn’t used to its fullest, although using it makes a lot of difference in working process of an organisation in comparison to the organisations who don’t encourage it’ use.

IT service portfolio management definition

Under the ITIL framework, the service portfolio management can be defined in simple terms as management of service portfolio, which means maintenance of a set of lists of services and their present related status with the history of previous of and current services provided.

The service portfolio can be further studied by the three distinct classifications:

  1. A Service Catalog

A service catalogue can be defined as a set of information that gives a basic outlook all visible, feasible and buyable services for the customers.

  1. The Service Pipeline

A service pipeline acquires related to services that are going to be launched in the near future and aren’t visible to the customers. This so, because these services are under development. The service pipeline also helps to forecast the growth of a new service and timeline for the same.

  1. The Retired ServiceCatalog

It basically stores the information related to services that are no more in use or can be called retired services. It keeps all such history which can be used for studying later for auditing purpose or some other objective.

The maintenance of these service information isn’t meaningless, but it is vital for managers to test the quality of services and it also helps the managers for auditing of expenditure of services. This also allows the managers to understand that which services admired, unlinked and anticipated by the customers.

Why is it necessary to maintain service portfolio?

A well-managed service portfolio can help an organisation to answer some of the most anticipated questions, such as:

  • Why should a customer service from a particular organisation?
  • Is it necessary to buy a particular service?
  • What is the pricing system of an organisation?
  • How to allocate resources for a particular service?

Difference between Product Portfolio Management and Service Portfolio Management

Product Portfolio Management is always confused with Service Portfolio Management by many organisations. It although seems similar, but it isn’t identical at all.

Well, a product is something that can be purchased and delivered moreover, it tends to be tangible, whereas, in case of service, there is a deliverance of some intangible value.

A product can be used for a specific purpose, but services are more concerned with the provision of solutions issues. Services include customer service transition assistance and management. Well, altogether, the outcome of services depends on the needs of a customer.

Difference between Project Portfolio Management and Service Portfolio Management

Services can be altered, and new services can be established on the basis of customers needs, and it cannot be changed without any reason. Service management is used to audit the expenditure that takes place in order to change a service. It should track the expenses through the lifecycle of services, design of services and through transition and operation of services and ultimately by tracking the retirement of a particular service. It should also track and manage the trading strategy for services.

Whereas Project Portfolio Management is more inclined towards tracking expenses that may take place in the development of a particular project and everything related to a project portfolio.

Service Portfolio Management and its benefits

  • It helps the customers to understand your terms when you deliver any service to them.
  • There high transparency that shows the risks intended costs and values of services.
  • It justifies and supports significant changes that may occur in the provision of services.

All these benefits can be enjoyed by a company if they manage to maintain a better Service Portfolio of their services.

 

Categories
Education

IT Service Management Best Practices

 

 

IT Service Management is essential for supporting, handling, producing and delivering the various steps and process of IT services. ITSM is essential for conserving the cost as it creates an expectable IT organisation. It is extremely beneficial for the organisation as it helps in the decision-making process.ITSM completely emphases on delivering products which meet the requirements and needs of the customers.

The Information Technology Service Management concentrates on preventing any issue or errors from occurring in the system. The best practices are used in order to achieve greater value, efficiency and success in business.

 

The different types of IT Service Management Best Practices are:

 

  1. Value your Clients

The risks and the costs are always dependants on the needs and requirements of the customers as they are the ones paying for the services or the end products. You must identify the requirements of your clients and work hard in order to fulfil those requirements. You must give certain importance to the products that are being produced. The product’s success is always decided by the clients. Giving value to your client’s opinions and remarks increase customer satisfaction.

 

  1. Ensure Information Safety

 

The most important step is to keep your confidential data or information safe and secure. As the information is exposed to the internet, it faces the possibility of a huge range of risks. The data or information leak can easily lead to the failure of the business or organisation. This leads to the need for the Information Security sector. The information is then analysed on its integrity, confidentiality, availability and authenticity. The information security policy is then drafted and represented to the stakeholders. The draft includes the steps and facilities which can enhance the safety and security measures. This provides a guarantee to the customers that the website is entirely secured and safe for them to utilise. The numerous other roles of the IT Security sectors are auditing risks, security patches and change tracking. They also work in order to identify and locate the root cause in order to find a solution to the problem.

 

  1. Continuous Improvement

 

Another important aspect of ITSM practice is the necessity to keep improving continuously. The utilisation of service management results in the continuous monitoring and remodelling of the system. They must continuously locate the areas of improvement in order to get better. They must look for several ways in order to minimise the cost and conserve time.

They must be adaptable to changes as there’s a continuous change which they need to find the solution to.

 

  1. Integrate

 

The IT department is not different from other departments, and it works with them in order to achieve the expected goals or objectives. Attaining integration is not possible only with the help of alignment. IT should become an integral part of the system or organisation in order to strive for business decisions, acquiring the expected goals or objectives and must enhance and improve in every single department, including IT.

 

  1. Prevent errors or issues

 

The modern-day IT must concentrate on dealing with the issues way before they arise as it would be huge harm and wastage to their business and its goals if they wait for the issue to crash their site instead of finding its solution right away. They must able to take steps right away in order to prevent the issue from growing or spreading. Some of those steps include continuous upgrading of the system, continuous monitoring in order to locate any suspicious activities and many more.

 

  1. Understanding the different frameworks

 

Information Technology Infrastructure Library (ITIL) helps in the utilisation of best practices for IT Service Management which emphases on the orientation of IT services with the requirements of the organisation. There are several types of key processes included in ITSM, such as:

 

Implementation Framework of ITSM:

 

  • Design
  • Create
  • Arrangement
  • Operation
  • Support

 

IT Service Support

 

  • Management change
  • Management of Configuration
  • Management of Information
  • Management of Release process
  • Management of Problems
  • Service and Help Desk

 

IT Service Delivery

 

  • Management Availability
  • Management Capacity
  • The steadiness of IT Services
  • Management of Finance

 

 

 

  1. Continuous Implementing

 

You should never wait for carrying out a plan or process, as there does not exist any perfect timing for implementation. As the requirements, resources, timeline and business, everything varies from each other. Thus not everything has a single solution. Hence continuous implementation will you to enhance your business and gain experience.