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Nidhi Garg1
ServiceNow® Strategic Portfolio Management (SPM)
ServiceNow’s Strategic Portfolio Management (SPM) empowers organizations to drive business outcomes by aligning their strategy with their work, enabling them to plan, deliver, and track value continuously. Using SPM, stakeholders can fund what matters most, build roadmaps to guide investments, communicate plans, and see work in the context of strategic initiatives— across diverse teams, project methodologies, and approaches.
Introduction
Gaining competitive advantage in today’s market means delivering value faster, even in the face of constant change. The way organizations optimize how they plan, align resources, and deliver products matters more than ever. ServiceNow’s Strategic Portfolio Management (SPM) empowers organizations to drive strategic business outcomes by continually aligning their strategy with their day-to-day work.
Key Strategic Portfolio Management (SPM) business outcomes
The table below summarizes the most frequent SPM business outcomes along with specific objectives that support these outcomes. Think about how each of these outcomes supports your organization’s business goals and create a ranked list. Choose the top outcomes and share these with your stakeholders to get alignment on priorities. Then, evaluate how many of these agreed outcomes you can reasonably address in your initial SPM rollout, and which ones need to be delivered in future phases. Use this to create an SPM roadmap that is aligned with your strategic goals, and, once again, share this with your stakeholders to get their agreement and support. Note that you can achieve all the business outcomes below over time. However, by prioritizing which ones to target first, you accelerate time to value and avoid casting your net too wide.
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Strategic Portfolio Management (SPM) Business Outcomes |
Strategic Portfolio Management (SPM) - Business Objectives |
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Faster Time to Market
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Accelerate product, service, or project launches. Optimize resource allocation, streamline processes, and align projects with strategic objectives. Efficient delivery of valuable initiatives, leverage project dependencies and resource availability for competitive advantage. |
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Improved Response Time to Disruptions
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Adapt swiftly to unexpected disruptions. Reallocate resources, adjust project scopes, or introduce new initiatives. Continuously assess and review project priorities Enable proactive mitigation, minimize negative consequences, and foster resilience. |
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Greater Alignment between Strategy and Execution.
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Ensure projects are aligned with business strategy through structured approaches. Translate strategic goals into tangible projects, monitor performance, and facilitate informed decisions. |
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Improved Efficiency
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Powerful capabilities supporting strategic portfolio management to simplify project vetting, identify profitable investments, and avoiding resource wastage. Enhance efficiency by focusing on initiatives aligned with organizational goals, streamlining investment approaches. |
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Cohesion of Multiple Disciplines
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Integrate various disciplines to achieve strategic results. Connect related tasks for visibility and accountability. Bring together program portfolio management, agile financial management, and other disciplines to ensure a cohesive approach. |
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Increased Agility
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Swiftly adapt strategies, set objectives, align roadmaps, and secure resources to address continuous changes. Flexibility, competitiveness, and innovation that meet evolving demands. |
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Improved Seed Overall
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Accelerate business processes beyond project launches. Reduce time to push ideas through the innovation funnel and launch timely digital initiatives. |
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Big-picture Focus
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Complete view of available resources, maintaining focus on long-term strategy and objectives amidst emergent situations. Align processes and teams to support overall company goals, ensuring distraction-free operations. |
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Ability to Realize Expected Business Value from Digital Initiatives
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Evaluate and prioritize digital initiatives based on alignment with business strategy, value generation, and resource requirements. Focus on high-return initiatives and effective execution, organizations. Maximize value from digital investments to achieve desired outcomes |
Strategic Portfolio Management (SPM) key performance indicators
Here are examples of the KPIs that ServiceNow SPM customers use most frequently to measure success. Note that these do not map one-to-one with the business objectives we’ve just discussed — one KPI may be applicable to multiple business outcomes. Select the KPIs that support your chosen business outcomes and identify how you are going to measure these. It’s also important to establish a baseline for your selected KPIs. For instance, if your KPI target is a 10% increase in NPS for support calls, you need to know your current NPS so you can measure your progress. Once again, make sure you share your KPI targets and timelines with your stakeholders and get their buy-in. This will allow you to set clear expectations on what success looks like and to demonstrate that success once you have achieved these targets.
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Strategic Portfolio Management (SPM) Key Performance Indicators Examples |
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1 |
90% strategic work delivered on time and on budget to achieve strategic outcomes |
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2 |
90% of demand aligned to business strategic business priorities |
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3 |
80% efficiency in roadmap planning |
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4 |
50% reduction in manual and redundant processes |
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5 |
30% faster time to market for new features |
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6 |
30% increase in projects completed on time |
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7 |
32% increase in work dedicated to Grow the Business (GTB) due to greater visibility of IT demand |
