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Commonwealth IT Investment Portfolio Tool ProSight Overview

Commonwealth IT Investment Portfolio Tool ProSight Overview. Purpose. Provide an overview of the new portfolio management tool (PfM), ProSight, a commercial of-the-shelf (COTS) solution for the management of Commonwealth IT investments (ITIM). Portfolio Management Defined.

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Commonwealth IT Investment Portfolio Tool ProSight Overview

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  1. Commonwealth IT Investment Portfolio Tool ProSight Overview

  2. Purpose Provide an overview of the new portfolio management tool (PfM), ProSight, a commercial of-the-shelf (COTS) solution for the management of Commonwealth IT investments (ITIM).

  3. Portfolio Management Defined Portfolio – A collection of projects and/or programs and other work that are grouped together to facilitate the effective management of that work to meet strategic business objectives. The components of a portfolio can be quantified; that is they can be measured, ranked, and prioritized. Portfolio Management – The centralized management of one or more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives…. PMI Standard for Portfolio Management 2006

  4. Why Serco/ProSight? • Serco has 40 years of delivering managed services • 41,000 employees • 38 countries • 800+ contracts • ProSight is a demonstrated leader in Investment Management Portfolio solutions • Serco/ProSight was the clear and consistent leader during functional/technical evaluation, scoring and demonstration - providing the best overall COTS solution and implementation strategy • The ProSight solution provides the least technical risk, operating in the Windows shared environment with high availability and fail over capability • Serco/ProSight presented the lowest overall bid, while also providing more flexibility in out-year maintenance costs

  5. Public Sector Customers CPIC Budgeting FISMA Project Portfolio Management Select, Control, Evaluate (ITIM) Innovation Management / NPD Enterprise Investment Management Application Rationalization

  6. Commercial Sector Customers Application Rationalization Project Portfolio Management Enterprise Investment Management IT Governance Innovation Management / NPD Compliance Management

  7. Commonwealth Strategic Planning Process Assets (Future) ITIM Processes Projects IT Investment Portfolio (ProSight) Procurements Services (Future) ITIM Information Overview(Current & Future)

  8. What Is IT Investment Portfolio Management?

  9. Portfolio Drivers That Define Enterprise Business Strategies • Code of Virginia • Enterprise Architecture • Establishes the foundation structure for the Enterprise Portfolio • EBA Components • Organizational structure • Enterprise business model • Business strategies and strategic direction • “AS IS” enterprise business architecture • “TO BE” enterprise business architecture • Defines • Who we are • Where we are • What we do • Where we want to go • Collaboration Opportunities

  10. Portfolio Drivers That Define Enterprise Business Strategies (Continued) • Governor’s 5 Initiatives • Commonwealth of Virginia Strategic Plan for Information Technology 2007 - 2011 • Published 2006 • Provides IT blueprint • Council on Virginia’s Future • DPB Strategic Planning effort • Provides business blueprint • VITA’s Transformation Goals • Provides VITA’s blueprint • Best Practices • Gartner Group • GAO

  11. Portfolio Business Questions, Examples

  12. RTIP Report The Relationship Between Portfolio Management (PfM) and Project Management (PM) Strategic (PfM) Enterprise Business Strategies Top Down Portfolio Mgmt (Doing the right Things) • Senior Management Summary • Budgets, Capacity, Milestones, Risks, Benefits, Prioritization, Selection, Oversight, Evaluation • Models Management Decision Process Information Operational (PM) Bottom up Project Mgmt (Doing things Right) Applications • Delivery of individual projects • Organizational Detail Infrastructure Source: Artemis

  13. Example Cost Savings IT Budget (before) $$ Saved from Ops and Maintenance can be used to fund Highly Strategic new Projects Capital Projects 20-30% of IT Spend • Savings in choosing right projects • Savings in executing more effectively • Savings in pulling plug quicker on errant projects Operational Services 70–80% of IT Spend Legacy Systems, Assets, Maintenance Projects, Contractsetc. New systems deployed faster and better aligned to strategic goals • Savings in executing betterprice/performance • Savings in consolidating and reducing redundancy • Savings in Contract Consolidation Better Alignment of entire IT Spend to Goals Vendor Management considerably simpler Bring tremendous value to Agencies, Legislature, Governor Portfolio Management Objective Example Outcomes Additional FUNDS SQUEEZEDfrom Operational Budgets Source: Artemis

  14. IT Investment Portfolio Models

  15. Analytical Structure for Portfolio Management

  16. Portfolio Analysis Process

  17. Contact Information Constance Scott Supervisor, IT Investment Management Office 804-371-5927 constance.scott@vita.virginia.gov or Gary Weaver Project Manager 804-225-2954 gary.weaver@vita.virginia.gov

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