Have you heard about the Business Technology Standard?
Many large companies and organizations in Finland are applying the framework to support demand, development, and service management, especially within the business IT context. Over the last ten years, the standard has significantly influenced my thinking—I tend to see its structure everywhere I go!
I had a wonderful sparring discussion with Business Technology Forum Executive Tia Jähi, and we agreed, that even though standard is originated from the business IT, the same principles would apply also for other contexts, such as our life cycle business and offering development!
Demand
First, we need to start with the demand portfolio. New ideas or development needs come from many different sources, and we need to create a systematic way to process, analyze, and prioritize this demand.
Development
Next, we move to the development portfolio. Development can occur through projects or programs, as well as continuous improvement activities. The Business Technology Standard framework can be applied to both traditional project portfolios and agile setups, which is fantastic!
Services
Last but not least, the service portfolio. This is the phase where we start to realize business benefits—when our new IT system is operational or our offering is sold and used by our customers. Having well-defined service management processes helps development teams focus on new demand and development and ensure good care of the customers and end users.
Governance
Creating clear governance over the entire end-to-end chain helps to create transparency, smooth decision-making, and a focus on value and strategic objectives. This includes well defined roles and responsibilities and also clear prioritization of demand, development and also service management activities.
Have you been applying the standard successfully? What are your key takeaways?
If interested to learn more, have a look: https://www.managebt.org/
Strategic Portfolio Management 