The Process Model Study On It Project Portfolio Management For SMES

With the rapid development of global IT technology, the internal IT projects andIT programs in Enterprises are becoming more diverse and complex, and hasgradually covered IT infrastructure, core business systems and IT servicemanagement related fields. At the same time, the IT management level of SMEs(Small and Middle size Enterprises) is comparatively low, and the quantity ofduplicated, redundant, delayed and failed IT projects continuously increased. There isan urgent need for enterprise management team to find a set of effective IT portfoliomanagement model to control all the IT projects and IT programs, and manage all theIT resources and project investment under a set of unified IT project evaluation andselection mechanism.However, There are many realistic problems when current mainstream ITmanagement theories and modules were implemented on SMEs (Small and MediumEnterprises), especially in IT portfolio management field being short of a completeand practical process model to guide SMEs.In this paper, a new process model,"Musculoskeletal" Model, which is suitablefor the SMEs IT Project Management was established, its main research andinnovations include:(1) In the country, for the first time, conducting thorough research and completeanalysis on the main stream12process models in IT management field and portfoliomanagement field;(2) In the world, for the first time, establishing a complete IT portfoliomanagement process model for SMEs, and declaring the three core principles, thefive basic domains,23static components, two layers of dynamic components and fiveimplementation steps;(3) Integrating IT strategic planning, IT process optimization, IT infrastructure,core business systems, IT service management and IT governance into a unifiedecological cycle in an innovative way, and combining the project program andportfolio management in same platform;(4) As a best practice, a global medical device company in China was chosen as an example. During the process of implementing the "Musculoskeletal" model on ITportfolio management, this company solved a large number of practical problems andthe good results were achieved.An important direction for future development of the "Musculoskeletal" model isto combine the dynamic components with various management models in depth andprovide more and more best practices, which will have a greater practical significancefor SME IT portfolio management.