By IT Brew Staff
less than 3 min read
Definition:
IT portfolio management allows managers, IT teams, and other stakeholders to make informed decisions about an organization’s IT operations. A comprehensive inventory of all IT assets can help the organization determine how effectively it can meet the needs of its IT strategy.
There are similar flavors of portfolio management, including technology portfolio management (an organization’s overall tech stack and how it aligns with broader business goals) and application portfolio management ( a tactical focus on the organization’s applications and how those impact everything from digital transformation to business goals).
Effective portfolio management is often the responsibility of the CIO, who should make a point of reviewing the portfolio a few times per year to ensure that new technology is effectively incorporated, outdated IT assets are replaced, and that no systems become too costly.
