When business uncertainties are frequent and compliance with regulations is mandatory, it can be a challenge to keep information technology (IT) synchronized with strategy for maximum business value—while reducing IT cost. An IT portfolio management framework, coupled with an IT governance framework, can provide visibility into projects and IT assets, keeping them aligned to business objectives at all times.
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Earned Value, Resource allocation, ROI etc. It is equally important to monitor risks for each project. An IT Governance (ITG) framework must provide a good risk management plan. It should be able to provide mitigation and contingency plans for each risk identified in risk profiles for a particular project. Each project can be assessed for generic risks such as security, regulatory compliance, resources, vendor viability, privacy, and information risk. It is vital for risk monitoring to be part of the