Application portfolio management (APM) is a process for managing an organization's software applications. It involves cataloging and analyzing existing applications, assessing their business value, and determining whether to keep, replace, or retire them. APM also includes planning for future application needs and investments.
The goal of APM is to help organizations optimize their application portfolio to support their business goals. This includes making sure the right mix of applications is in place to meet current and future needs, and that applications are properly aligned with business strategies. APM also aims to improve the efficiency and effectiveness of application development and management processes.
There are a number of different approaches to application portfolio management, but all share a common goal of helping organizations get the most value out of their software investments. APM is often seen as part of a larger enterprise portfolio management (EPM) effort, which also includes other types of assets such as hardware, people, and processes.
What are application portfolio management 4 steps?
1. Define what you want to achieve
The first step in any application portfolio management process is to define what you want to achieve. This involves setting goals and objectives for the process, and deciding what metrics you will use to measure success.
2. Assess your current situation
The second step is to assess your current situation. This involves inventorying all of the applications in your portfolio, and assessing their current state. This will give you a baseline against which to measure progress.
3. Develop a plan
The third step is to develop a plan. This plan should detail how you will achieve your goals and objectives, and should include a timeline and budget.
4. Implement and monitor
The fourth and final step is to implement and monitor your plan. This involves putting your plan into action, and tracking your progress against the metrics you defined in the first step.
What is meant by application portfolio?
An application portfolio is a collection of software applications that are used by an organization. This can include both internally developed applications and commercially available off-the-shelf (COTS) applications. The portfolio may also include information on the applications' operational status, development status, and interdependencies.
The purpose of an application portfolio is to provide visibility into the organization's overall application landscape. This can help with strategic decision-making, such as identifying which applications to keep, retire, or replace. It can also help with operational decision-making, such as determining which applications need to be upgraded or how to allocate resources across different applications.
What should be included in an application portfolio?
An application portfolio should include all of the software applications that an organization uses, as well as any custom applications that have been developed specifically for the organization. It should also include information on the vendor for each application, the version number, the number of users, the cost, and the support level.
What are the 3 types of portfolio management?
The three types of portfolio management are strategic, tactical, and operational.
Strategic portfolio management is the process of making decisions about which projects or products to invest in, and how to allocate resources among them. It is typically done at the organizational level, and takes into account the organization's overall goals and objectives.
Tactical portfolio management is the process of making decisions about how to best execute the projects or products that have been selected for investment. It is typically done at the project level, and takes into account the specific constraints and objectives of each project.
Operational portfolio management is the process of managing the day-to-day operations of the projects or products that have been selected for investment. It is typically done at the individual project level, and takes into account the specific tasks and activities required to successfully complete the project.