APPLICATION PORTFOLIO MANAGEMENT
According to major research organizations such as Forrester and Gartner, IT management will increasingly turn to Application Portfolio Management (APM) to stem the flow of money into its largest financial black hole — the expense to maintain its existing application portfolio. APM builds an application knowledge base that serves as the sole source of application truth across the enterprise and as a vehicle to collect key application metrics to help govern and manage application activity. Many APM practitioners report 10% to 50% reductions in maintenance costs and returns on project investments in less than a year. Beyond the inherent need in virtually every large enterprise to streamline and reduce maintenance costs, the major drivers accelerating APM adoption include:
- The need for application knowledge to respond to regulatory mandates for data privacy, such as the Sarbanes-Oxley Act and the Health Insurance Portability and Accountability Act;
- Pre-contract negotiation and post-outsourcing monitoring; and
- APM's eventual melding with other portfolio management disciplines, such as Project Portfolio Management, Risk Portfolio Management, Service Portfolio Management, and much, much more.
KnowIT for Application Portfolio Management
The KnowIT platform is ready to act as your Application Inventory solution. Its Product Management module allows enterprises to catalog and track each and every application in their organization. With the KnowIT platform, enterprises can now:
- Track Application Severities, allowing your enterprise to easily understand what applications are most important to your enterprise and its stakeholders, world-wide
- Manage and publish application strategies (such as Move-To, Move-Away, Sustain, and Avoid), allowing stakeholders, world-wide to easily see and understand the intent for each application
- Track and manage application dependencies, between applications to other applications, and other Products, Resources, Organizations, Locations, Projects, Documentation, and much, much, more
- Track and manage application lifecycles and their related states
- Easily create and publish reports that help dimensionalize your application portfolio according to what is important to its stakeholders
- Easily chart and graph characteristics of your application portfolio, without leaving the platform
- See elaborate visualizations that highlight dependencies that are critical for managing your portfolio
- Track and manage your application costs by understanding costs of the applications, themselves, and associated dependencies that are typically hidden from conventional management practices
With KnowIT, you and your enterprise can now see what it owns, world-wide, and can easily access and manage critical information that helps manage its costs, productivity, and ultimately its revenue.