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Service Offerings - Activities for Service Portfolio Management

Service Portfolio Management (SPM) is a process that is defined by ITIL best practices in the Service Strategy Lifecycle Stage.  The initiation of activities for Service Portfolio Management is often a result of changes to strategic plans or the identification of a service improvement plan and are triggered by a proposal that must have executive approval to proceed.   For existing services, Service Portfolio Management considers investments that have already been made along with new investments required.  The combined may result in the service being too expensive for what the business will achieve.  Investment decisions will need to be made.  There are many possible procedures and workflows to fulfill all the details of this process but overall the activities can be clearly understood with four high level process activities. Define – In this stage of the process SPM must document and understand existing and new services.  Every proposal for a new or changed service must be accompa