The process of IT portfolio management is similar to that of a financial portfolio management. In the case of financial portfolio management, the riskier strategic investments such as high-growth stocks are balanced with more conservative investments such as cash funds. The portfolio mix is constantly monitored to assess which projects are on track, which need help and which should be shut down.

Therefore, the crux basically lies in the execution. Indian IT companies need to implement IT portfolio management all the more within the organizations in order to chalk out a clear strategic path for the organization in the emerging International IT scenario worldwide.

Many times, in the Indian organization, million-dollar projects, which do not necessarily match the company's objectives, are awarded to business units headed by the squeakiest executives. In many Indian IT firms, the weak IT governance structures mean that business executives don't have clear ideas of what they're approving and why.

It is in this context that IT portfolio management becomes all the more relevant in the Indian firms. A strong portfolio management program in the Indian IT firms can help turn around the fate of the companies in the global competition.

Effective IT portfolio management also helps in the following manner:
-Helps to maximize value of IT investments while minimizing the risk
-Improves communication and alignment between Information Systems and business leaders
-Encourages business leaders towards teamwork and to take responsibility for projects
-Allows planners to schedule the IT resources more efficiently
-Reduces the number of redundant projects and make it easier to kill projects.
 

~ Category editor Sakina Kadiwala. copyright data indianchild.com

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