Strategic & Portfolio Planning in SPM
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Strategic Portfolio Management (SPM) empowers organizations to align work to strategy. Two powerful planning workspaces enable this vision – Portfolio Planning and Strategic Planning – depending on your licensing level. This blog will help you find the right resources to understand and implement them.
Portfolio Planning is the process of selecting, prioritizing, and managing a set of initiatives - such as projects, or demands that align with organizational capacity and strategy. While Strategic Planning goes a level above Portfolio Planning, It involves long-term goals, setting targets, aligning work across portfolio and continuously adjusting based on feedback and changing business needs. It ensures that execution is always tied to strategy.
In the ServiceNow SPM product, these are brought to life with following workspaces based on license
| Portfolio Planning Workspace (Std License) |
Strategic Planning Workspace (Pro License) |
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❇️ View in-detail comparison of Portfolio Planning Workspace with Strategic Planning Workspace
💡Think of Portfolio Planning as a core planning layer, Strategic Planning as broader strategic shell with deeper capabilities
📋 Key Modules
Based on the license, Portfolio Managers, Enterprise PMOs, Product Managers can,
- Create goals and connect work to strategy to deliver desired outcomes
- Gather, review and prioritize initiatives, and work items; and manage status and progress of initiatives on an interactive visual roadmap (traditional, hybrid or agile) all in a single platform.
- Perform trade-off analysis based on financials and goals using Scenario Planning
- View and manage resource capacity needs and estimates effectively
- Manage customer centric feedback and ideas using feedback module
- Streamline communication and collaboration between teams, and drive coordination with diverse teams with Enterprise Agile Planning
| Std & Pro | Pro Only |
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Goal Framework |
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Enterprise Agile Planning |
| Scenario Planning |
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Additionally, you can also manage resource capacity, and configure agile structures and planning calendars for EAP.
🔜 Migration to Next Experience
If you are an existing customer using Alignment Planning Workspace (APW), you are on classic experience. Here's how you can migrate -
- Why Migrate? APW is legacy version, and it is recommended to migrate for improved UI, strategic alignment, Better Agility
- What's new? Support for modern planning items, custom lens, enhanced experience
- Where to begin?
- Check the migrating to Strategic Planning on docs
🔗 Resources & Links
👣 Next Steps in SPM Journey
Project Portfolio Management
To align investments to implement strategy and deliver business outcomes, portfolio managers need the right tools to respond quickly and decisively when changes are needed.
Learn about more Strategic Portfolio Management
- Strategic Portfolio Management (SPM) Overview blog
- Getting Started with Strategic Portfolio Management recording
- Quick Start Guide for Financial Planning blog
- Quick Start Guide for Now Assist for SPM blog
- Quick Start Guide for Enterprise Agile Planning in SPM blog
- Collaborative Work Management product hub on Community
💬 Become an SPM Customer Evangelist Now!
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Are you interested in sharing your success journey of using Strategic Planning Workspace or Portfolio Planning Workspace? Evangelist Program will help you connect with our Product Team, network with SPM community, and learn more from industry insights.
Fill this brief survey and we will reach out to learn more about your experience with Strategic Planning and SPM overall.
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