PRODUCT PORTFOLIO MANAGEMENT

Like Application Portfolio Management, Product Portfolio Management (PPM) focuses on managing an enterprise's complete portfolio of Products. However, unlike Application Portfolio Management, which focuses strictly on software applications, PPM focuses on the "entire" picture, including all products that impact your enterprise. This includes relevant product inflows and outflows, products that are purchased for internal consumption and products that are supplied to clients. In this day and age, PPM is becoming critical, as executive management flocks to understand its supply and value chains. According to major research organizations such as Forrester and Gartner, IT management will increasingly turn to Portfolio Management solutions to stem the flow of money into non-core business functions, such as engineering and maintenance of hardware and software that adds no direct value to revenue channels. PPM builds a product knowledge base that serves as the sole source of product truth across the enterprise. This knowledge base is used as an enterprise vehicle to collect and manage key product metrics to help govern and manage product activity. Many PPM 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 PPM adoption include:

• The need for product 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
• PPM'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 Product Portfolio Management

The KnowIT platform is ready to act as your Product Inventory solution. It's Product Management module allows enterprises to catalog and track each and every product in their organization. With the KnowIT platform, enterprises can now:

• Track Product severities, allowing your enterprise to easily understand what Products are most important to your enterprise and its stakeholders, world-wide
• Manage and publish Product strategies (such as Move-To, Move-Away, Sustain, and Avoid), allowing stakeholders, world-wide to easily see and understand the intent for each Product
• Track and manage Product dependencies, between Products to other Products, Assets, Resources, Organizations, Locations, Projects, Documentation, and much, much, more
• Track and manage Product lifecycles and their related states
• Easily create and publish reports that help dimensionalize your Product portfolio according to what is important to its stakeholders
• Easily chart and graph characteristics of your Product portfolio, without leaving the platform
• See elaborate visualizations that highlight dependencies that are critical for managing your portfolio
• Track and manage your Product costs by understanding costs of the Products, 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, quality, and ultimately its revenue.

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