Imagine trying to run a manufacturing business without a comprehensive, detailed view of the products provided by your company.
It would be difficult to know all the products currently planned, in development, or available to customers. You wouldn’t know the recurring or nonrecurring product costs, the prices, or the sources of products and component assemblies. How could you even determine the support resources required for each product or the product’s warranty options?
Manufacturing firms learned long ago about the importance of maintaining comprehensive and accurate documentation on their product lines. Such information provides the foundation for informed decision making. IT executives and their teams face a similar need to have a comprehensive and accurate view of IT services. Without this view, it’s difficult, if not impossible, to run IT as a business. To be successful, take a lesson from manufacturing firms and create comprehensive and accurate documentation of your “products,” including planned and existing services.
The result is a service catalog that includes all relevant details about each service, including which service level agreements (SLAs) are associated with it, who is able to request it, how much it costs, and how to fulfill it.
You can leverage this information to gain full control of your service portfolio through effective service portfolio management. This approach helps you focus on your priorities to improve the services that support the business. It allows for the most efficient use of IT resources, which reduces costs and helps increase business agility and user satisfaction. Ultimately, service portfolio management sets up a process for the business to generate greater value.
This paper describes the IT Infrastructure Library® (ITIL®) Version 3 (V3) approach to service portfolio management. It examines the various components of the service portfolio, such as the service catalog.
In addition, it discusses technologies available to develop and manage the service portfolio and to leverage the information contained in the catalog.