Service Portfolio Management portfolios

  • Release version: Washingtondc
  • Updated March 1, 2024
  • 3 minutes to read
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    Summary of Service Portfolio Management Portfolios

    Service Portfolio Management provides a comprehensive view of your current, future, and past services within a structured portfolio. It allows you to assess the impact of services on your business, manage them through unique taxonomy structures, and make informed decisions on budgeting, service addition, or retirement.

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    Key Features

    • Dynamic taxonomy structure for organizing service portfolios at various levels.
    • Transition from legacy to standard portfolio structure with enhanced capabilities, including the use of KPI groups for reporting.
    • Ability to create single or multiple portfolios tailored to your organization’s needs.
    • Options to update portfolio structures and service categorization over time.

    Key Outcomes

    Upgrading to the standard portfolio structure enables you to utilize new reporting features and manage services without the constraints of the previous layered structure. Note that after opting for the standard structure, you cannot revert back to the legacy system, and certain performance metrics will no longer be available. This transition helps streamline service management and improves decision-making processes.

    A service portfolio presents an overall top-level view of your currently available services, possible future services, and services that existed in the past. Evaluate the impact that services have on your business and manage them in a single portfolio or multiple portfolios with unique taxonomy structures, owners, and market scope.

    Portfolio overview

    Gain valuable knowledge about your service portfolios, including an overall performance score and estimated spend. This knowledge helps you budget for your services and make informed decisions about adding new services and retiring services that no longer benefit your business.

    Think of a service portfolio as a container that holds a hierarchical organization of definable nodes, services, and service offerings. Taxonomy in Service Portfolio Management refers to the classification of your portfolio layers and associated services (legacy portfolios use layers; see the Note). Typically, taxonomy is structured from a general, high-level perspective to a specific level, such as a service offering. With this dynamic taxonomy structure, you can organize your service portfolios in various ways.

    Standard and legacy portfolio structures

    Prior to the Utah release, Service Portfolio Management provided one portfolio structure. With the Utah release and after, existing customers can move from the legacy structure to the improved standard structure by opting in via a system property.

    As an existing customer, opting in to the standard portfolio structure upgrades all your service portfolios. Your existing portfolios remain intact, but performance metrics, scores, and weights are no longer available. With the improved standard service portfolios, you can use key performance indicator (KPI) groups in Digital Portfolio Management (DPM) to report on services, nodes, and portfolio performance.

    The standard portfolio structure provides new features and capabilities for your service portfolios so that you can:
    • Create portfolio structures that have multiple different depths in the same portfolio.
    • Update your portfolio structure over time to add or remove depth in areas of the portfolio, as needed.
    • Work in your existing portfolio in the new structure, even though "layers" are removed.

    The portfolio_admin can navigate to All > Service Portfolio Management > Administration > Upgrade to Standard Portfolio to access the system property [standard_portfolio_construct.turn_on]. Only existing customers see this menu path. New customers get the standard portfolio structure by default so this menu path isn't available.

    Important:
    After you upgrade to the standard portfolio:
    • You can't revert to the legacy portfolio structure.
    • You don't have access to the performance score in Service Owner Workspace because weights and performance metrics are no longer available.
    Table 1. Standard and legacy service portfolio structure considerations
    Opt in to the standard service portfolios Don't opt in — keep legacy service portfolios
    • Use node-to-node relationships to create service portfolios with different levels of depth in a single portfolio (no more layers).
    • Report on services, nodes, and portfolio performance using KPI groups in DPM.
    • Layered records are required, so you assign nodes to a layer and then reference the parent/child node.
    • Report using portfolio performance metrics, scores, and weights from Service Owner Workspace (and not KPI groups from DPM).

    When you opt in, a dialog box provides these important aspects and considerations. Select the check box if you want to opt in or not (Yes or No).

    Important:
    The Service Offering Metric Data [service_offering_metric_data] table along with the following four indicators have been deprecated in the Utah release:
    • Average SLA Achievement [ServiceOffering.MetricData.SLA.Daily]
    • Average Customer Satisfaction [ServiceOffering.MetricData.CSAT.Daily]
    • Average Availability [ServiceOffering.MetricData.Availability.Daily]
    • Average Request Activity [ServiceOffering.MetricData.Activity.Daily]
    Therefore, if you have the Vendor Management Workspace application integrated with Service Portfolio Management, and if you are upgrading to the Service Portfolio Management standard portfolio, the metric data from the legacy indicators are no longer available. For information on vendor scores, see Vendor KPI Groups in Vendor Management Workspace reference.

    Portfolio administration

    As a portfolio_admin user, you can create a single service portfolio or multiple portfolios. If your organization has multiple businesses, you can define multiple portfolios to segregate them by business location, by vendor, or by Chief Information Officer (CIO). You can also:
    • Add and remove services from portfolios.
    • Determine how the services in a portfolio are categorized.
    • Update portfolio taxonomy.
    • Update portfolio details.
    • Update services and service offerings (the service_editor role also has access).
    • Reparent services (the service_editor role also has access).