The benefits of Application Portfolio Management
Application portfolio management is a framework which is utilized to manage the IT software applications and also services which are software based in an organization.APM offers business owners with inventory of the metrics as well as software applications of a company to give a description of the benefits that the business will acquire by each of these applications.
An APM system utilizes a scoring algorithm in order for it to generate reports concerning each application value as well as the health of the health of the entire IT infrastructure.By combining metrics including the cost of maintain an application, how often it is used, the age of the application as well as the interrelationship a certain application has with other applications, managers can be able to make informed decision on whether to keep, update or replace a particular application.By making use of APM, it is possible our an organization to simplify the support of IT and also reduce the cost of supporting applications which are obsolete, redundant or rarely used.
With application management applications, the firms are able to identify and also rationalize applications for them to well understand them in terms of their associated costs, their value to the business as well as the risks to the firm.I n order for any organization to be able to increase efficiency with its applications, then there is need for it to use APM.
Another reason why any business should use application portfolio management is for the purposes of optimizing the transformation of IT through benchmarking the quality of the application, its productivity as well as the alignment of the business.
With application portfolio management, managers will also be able to identify all the risk profiles as well as the mission criticalities of all the applications it has, APM will also allow the business to determine the most efficient methods of leveraging the existing as well as the new technologies in delivering the maximum value to the business and thus meet all the needs of its users.
It is recommendable that managers pick on applications which will fit the application portfolio management process thy have in the best way.A good APM will involve an inherent workflow in its design and which will actually enhance the major steps of the process.With APM, there will be business development for each and very project.In order for the organization to be able to build and also sustain an application portfolio management, it will be crucial for it to have a quality, flexible as well as value maximizing application which also has a clear work flow.Business owners will have to pick on the right APM which will deliver the best results to the firm.