What was the basis for the creation of SPM?

[RinaKondo]

SPM is based on which best practices?
For example, ITSM is a product based on the best practice of ITIL.

[Community Alums]

Hi @RinaKondo ,

SPM doesn't have a framework to follow like ITSM follows ITIL !!

SPM is another product just like any other in the market to deal with Projects,Portfolios,Programs ,demands, Resource management, Time card, etc..

Strategic Portfolio Management makes it easy to anticipate critical business requirements, allocate resources, and evaluate the value of your portfolio. It enables you to prioritize new requests and deliver products efficiently. Assess related top-level investments, and adapt to changing business priorities by making adjustments on an ongoing basis. Manage strategic and operational work in one place and reduce bottlenecks to get to market faster.

IT Aligns work with business objectives to deliver products and services in a way that supports your strategic priorities. ServiceNow® Strategic Portfolio Management (SPM, formerly ServiceNow® IT Business Management, enables you to make informed choices and use digital transformation to drive more customer value faster. Plan, deliver, and track value across different methodologies.

[Community Alums]

Hi @RinaKondo ,

[chetanb]

Hello @RinaKondo ,

Strategic Portfolio Management is the process an organization uses to select, prioritize, and manage resources within its portfolio of programs, projects, and initiatives used to meet strategic goals and objectives. Formerly its ITBM ( IT Business Management).  Its a process.

SPM Process Guides - ServiceNow Community

Recommended training for SPM  - ServiceNow Community

SPM: Project Portfolio Management || Knowledge & T... - ServiceNow Community

https://docs.servicenow.com/bundle/washingtondc-it-business-management/page/product/it-business-mana...

if my answer has helped with your question, please mark my answer as accepted solution and give a thumb up.

Regards,

CB

[David Olson]

Hi @RinaKondo,

I was interested in understanding SPM, too, so I did some research that I summarized in this article.

David