I’m currently implementing a form of IT Portfolio Management for a customer. Unfortunately this is not done in ServiceNow but with another tool. As my previous experience with ServiceNow was very positive, I was curious how this tool would perform out-of-the-box (OOB) for IT Portfolio Management.

What is IT Portfolio Management?

There are a lot of definitions out there that describe IT Portfolio Management.
Gartner: Gartner defines portfolio management as a shift from the practice of using a single integrated application for the support of business requirements to using a collection of applications, technologies and services to create a system that addresses the unique requirements of an organization and leverages best-of-breed opportunities.
Wikipedia: IT portfolio management is the application of systematic management to large classes of items managed by enterprise Information Technology (IT) capabilities. Examples of IT portfolios would be planned initiatives, projects, and ongoing IT services (such as application support).
To me IT Portfolio Management deals with making sure investments in IT are supporting the needs of the business. This should be done by focusing on areas as planning, delivering and evaluating the IT Assets that are used by the business. IT assets typically are Services, Applications and Technologies.

What has ServiceNow to offer?

Searching the ServiceNow Wiki on portfolio management I encountered two areas dealing with portfolio management: Service Portfolio Management.

Project Portfolio Management

The Project Portfolio Management functionality provides the ability to create projects which can be linked to tasks and resources. When linking multiple tasks to a project it is useful to use a Gantt chart to understand the possible complexity of the project and dependencies between tasks. ServiceNow is able to provide this in a very user friendly way, including the possibility to drill-down to lower levers within the data.
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