Information Technology Portfolio Management Policy

 

 

 

Statement of Purpose

The purpose of this policy is to establish the agency Information Technology (IT) portfolio as a primary tool to support IT decision-making.  An IT portfolio demonstrates the relationships among current and planned investments.  The purpose of the IT portfolio is to manage investments in IT as one would manage a portfolio of investments of assets such as real estate or financial instruments (e.g., a stock portfolio).  The portfolio enhances the ability of key decision-makers to assess the probable impact of investments on an agency’s programs and infrastructure, as well as on the overall state IT infrastructure. 

 

The IT portfolio:

 

• Demonstrates the agency’s allocation of IT resources in support of the agency’s mission and programs.
• Documents the linkages among an agency’s programs, strategies, and business processes and its use of IT.
• Demonstrates how investments in new projects complement and strengthen investments already being managed in the portfolio.
• Supports the systematic analysis of alternative IT investments in relation to agency business requirements.
• Facilitates analysis of the risks associated with IT investments and helps ensure that appropriate risk mitigation strategies are adopted.
• Provides a baseline for agency and state-level performance reporting.
• Helps ensure that the state IT infrastructure is effectively integrated.

 

Scope

This policy applies to all Agencies within the Executive Branch of Maine State Government.

 

Policy

Each agency, regardless of funding sources, unless specifically exempted by the Office of the CIO, must adhere to this policy to develop and maintain their IT portfolio.

 

PROCEDURES

 

Document investment, acquisition, and use of IT.  The IT portfolio documentation must provide sufficient detail for effective IT planning and management.  It must include the following:

 

1.      Agency Strategic Business Plan

      Mission

            Goals and objectives

Strategies

Responsibilities

2.      Agency Technology Infrastructure

Hardware

Software

            Networks        

            Facilities inventory

            Knowledge and skills of people

Conformity to IT state enterprise infrastructure 

4. Technology Investment/Project Summaries

Project name

            Project description

            Budgeted cost for development

            Actual cost if complete 

            Development time period (start/end dates)

            Life expectancy

            Analysis and justification

Link to strategies and business processes supported by project

Conformity to IT state enterprise infrastructure

Technologies to be used

Projected yearly maintenance costs

5. Annual Technology Investment and Project Reviews

         Schedules

         Management Reports

Modifications to project

 

 

Conduct an annual update of its IT portfolio in conjunction with the agency planning and budget processes, and make whatever revisions are necessary for the portfolio to continue to reflect the agency’s management and use of IT. The annual update provides agency executives the opportunity to perform a comprehensive review of IT management and operations, and evaluate the relationship between IT investments, agency strategies and programs, and the agency budget. Included in this review should be summary information on each project within the portfolio.  The head of each agency must provide certification to the Office of the CIO by June 30^th of each year that the annual IT Portfolio update has been completed. 

 

As necessary, provide in interim submissions reflecting significant changes to the agency IT portfolio.

 

Provide IT portfolio summary information with all budget submissions.

Include the following information:

1. Project Name
2. Original start/end dates
3. Projected end date
4. Budgeted cost for development 

State costs

Contracted costs

5. Modifications to project (list each separately)

State costs

Contracted costs

 

 

Waiver Process

Should it be felt that there is justification for a waiver related to any area of this policy, an agency must document a compelling technical or business case which would warrant the exemption.  This documentation must then be submitted to the Office of the CIO for approval.