IT portfolio management

IT portfolio management

Please read this summary below.

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As has been pointed out IT portfolio management is key to building a good IT strategy and every organization should have a common process for managing the overall value being delivered to the organization from its IT portfolio. But not all organizations do this.

Sometimes it is just easier to adhere to the status quo. After all, if something is already working, why would you want to change anything? Nevertheless, changes in process are often a good thing, potentially improving efficiency and adding value where there previously was none (or at least less). That said, the larger the organization, the more challenging implementing any form of process change is, especially when the changes pertain to technology.

Consider the fact that most modern organizations rely on their IT resources. Everything from new projects to everyday email is connected to it. Because of this deep integration, when IT portfolio management practices are introduced to (or revised in) an organization, the changes can be huge, subsequently heralding additional consequences (be they positive or negative).

Question:

How would you introduce IT portfolio management into an organization you work for or are familiar with? Identify the specific steps you would take.

300 words are required. Please add citations and references page number for each citation in the paragraph Example: (author name, year, p. xx). It’s required APA standard format. Prepare answer from your own thoughts. This is master level degree so, the answer should be very clear and concise.