Application Portfolio Management
Application Portfolio Management (APM) is a strategy that helps businesses manage their software applications efficiently, ensuring they deliver value and align with business objectives. It's akin to stock portfolio management but for software, where companies assess the performance of each application, deciding which to keep, improve, or discard using methods like T.I.M.E analysis (Tolerate, Invest, Migrate, Eliminate). This approach categorizes applications based on their utility and value, using visual tools and scoring systems to evaluate their business relevance and technical compatibility. Through surveys among IT staff, users, and leaders, businesses can make informed decisions on which applications to invest in, update, or eliminate, optimizing their software portfolio for maximum return on investment.