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The architecture layer is the final layer in the portfolio management framework that describes the software packages and tools used to support the portfolio management processes. It is difficult to effectively identify, analyze and summarize the results of the portfolio management processes without a supporting information technology infrastructure. Tools help support the process of making effective portfolio management decisions.
Tools range from spreadsheets to data warehouses to feature-rich portfolio management tools. These tools help provide the business intelligence to answer portfolio management questions. The software packages store the application and project management metrics used to make data-driven decisions. Financial costs, application problems, infrastructure outages and other performance metrics are stored in these databases for historical trending and future analysis.
The industry has responded by providing a wide range of software packages that provide support for application portfolio planning, prioritization, project management and monitoring tools. According to Gartner Research, the market has seen active growth with new product releases, delivery of software tools as a service, and continued merger and acquisition of project portfolio management tools. Clarity, Primavera, HP PPM, Microsoft Project, eProject and Planview are just a few of the vendors providing integration project portfolio management solutions.
Figure 1: Architecture Layer
Gartner foresees extended growth in the portfolio management space where software vendors provide an integrated view of the project portfolio over time. In addition to proposed in-process projects, project portfolio management tools will consider non-project work that affects the organization’s resource base. Future growth also includes improved risk management functions, resource management, demand management and enhanced collaboration tools.
Effective portfolio management tools provide both a top-down and bottom-up view of the same application and project data with a variety of role-based views. Project managers need the day-to-day support and portfolio managers need a strategic view into their portfolio. Effective tools leverage the same data without replicating data that becomes redundant and inaccurate. Vendors that successfully deliver portfolio management functions with “one version of the truth” will continue to emerge as leaders in the architecture layer.
The software tools found in the architecture layer are often the most visible portion of the framework. It is important to recognize the tool is just a quarter of the solution. Software vendors typically recognize the primary process layer and the architecture layer; however, firms need to recognize the support and organization layers are also required to successfully implement the solution.
Portfolio management is a growing competency within the IT industry. The concept of managing IT like a business reinforces the need to manage IT assets like investments in a financial portfolio. Financial management continues to be a core support process in any organization and its extension to IT is an outcome of managing all costs across an organization’s value chain.
The portfolio management framework provides a structure to manage a portfolio using primary and support processes. The primary and support processes interact with the organizational layer that provides the context for the portfolio management processes. Supporting all of these processes is the architecture layer that stores the portfolio data. The next article in this series will demonstrate how the framework is implemented.
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