Service Portfolio Management portfolios

  • Release version: Xanadu
  • Updated August 1, 2024
  • 3 minutes to read
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    Summary of Service Portfolio Management portfolios

    Service Portfolio Management provides a comprehensive top-level view of your current, future, and past services. It enables you to evaluate the impact of these services on your business and manage them within one or multiple portfolios. Each portfolio can have its own taxonomy structure, owners, and market scope, helping you budget effectively and make informed decisions about adding or retiring services.

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    A service portfolio acts as a container organizing services hierarchically, from broad categories down to specific service offerings, using a flexible taxonomy system.

    Standard and Legacy Portfolio Structures

    There are two portfolio structures: legacy and standard. New customers receive the standard structure by default. Existing customers can opt to upgrade from the legacy to the standard portfolio through a system property.

    • Standard Structure: Supports multiple depth levels within the same portfolio without using layers, allows dynamic updates to the portfolio structure, and integrates with Digital Portfolio Management (DPM) KPI groups for performance reporting.
    • Legacy Structure: Uses layered records requiring assignment of nodes to layers and supports performance metrics, scores, and weights within Service Owner Workspace.

    Important considerations when upgrading to the standard structure:

    • Upgrade is irreversible; you cannot revert to the legacy structure.
    • Performance scores and weights in Service Owner Workspace will no longer be available; reporting shifts to KPI groups in DPM.
    • Certain legacy metric indicators have been deprecated, impacting integrations like Vendor Management Workspace.

    Portfolio Administration

    Users with the portfolioadmin role can create and manage single or multiple portfolios, which is useful for organizations with diverse businesses or locations. Administrative capabilities include:

    • Adding or removing services within portfolios
    • Defining and updating portfolio taxonomy and details
    • Updating services and service offerings, including reparenting services (also accessible by serviceeditor role)

    This flexibility supports tailored portfolio management aligned with organizational structure and business needs.

    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).