HOPEX--the New IT Portfolio Management from MEGA
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HOPEX--the New IT Portfolio Management from MEGA

By CIOReview | Tuesday, May 27, 2014

BOSTON, MA: Enterprise governance software solution MEGA, has rolled out a new offering for comprehensive IT portfolio management—HOPEX IT Portfolio Management.

HOPEX IT Portfolio Management (ITPM) extends far beyond the traditional practice of application portfolio management, which looks only at software applications. The HOPEX solution helps a company evaluate each of its technology components in the context of how each supports the organization’s strategic goals, business activities and connections with customers.

IT portfolio evaluation is based on assessing the business needs of the company alongside the lifecycles and economics of each of the IT system’s technology components. This comprehensive inventory and analysis provides enterprises with the information necessary for them to determine when to acquire, expand, or retire various IT assets.

HOPEX IT Portfolio Management is one of several new solutions built upon the company’s HOPEX platform. HOPEX powers MEGA’s broad range of integrated software solutions that help organizations meet complex, interconnected needs and achieve effective enterprise governance. These solutions help a company plan and manage transformation programs, as well as rationalize and optimize its technology portfolio to reduce costs.

With the new MEGA solution, companies gain a structured method to move through three critical phases of portfolio management: inventory, evaluation, and transformation:

  • Collect application data, identify the risks associated with each technology asset and aggregate information on the multiple components.
  • Evaluate the collected data using assessment criteria, assess functional coverage and alignment with business needs and determine the life cycle for each component.
  • Transform the IT portfolio into one that meets the company’s current and future needs.

By continuously managing an IT portfolio, a company will be able to reduce IT costs and insure that business needs are met on a timely basis. CTOs can assess technology compliance, supervise and control technology vendors that provide IT solutions and rationalize technology use within the organization. Dashboards and global reports, such as the top 10 most expensive, the most risky applications and total cost of ownership (TCO) helps financial controllers manage technology costs and risks, while portfolio managers can analyze TCO by business line, by business capability, or other criteria. A report center gathers all vital reports to speed up decision making.

“Companies can use this solution to identify and understand the links between business priorities and IT assets, and the dependencies between them, so they can determine the potential effects of change before the change is made,” explains Lucio de Risi, CEO, MEGA.