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Value your applications to balance your portfolio

In my first meeting with my financial planner many years back, I was advised that I should continuously monitor my portfolio of investments on a regular basis and make adjustments as needed on a period basis -- depending on their current and projected value. I find that this principle is true not just for personal finances but also for IT professionals when you are dealing with a myriad set of applications within your environment. HP Applications Modernization Consultants, Joe Sterk and Tom Klinect hit this point home in this video from HP Discover 2012.

 

It is all about the value of your applications, says Klinect. Some applications may have little value; produce no income whereas others may yield significant business value at present. Applications you invested in last year, may be something you retire in the future, says Klinect.

 

Rationalization of applications is not a one-time initiative. It needs to be done repeatedly -- in some cases, triggered by internal or external events like mergers, acquisitions, and compliance with federal mandates (See Ring-fencing as an example).

 

Watch this video to better understand the types of services HP provides supplemented with tools that can effectively process the information collected about various applications and categorize them accordingly.

 

Enterprises need to continually balance their portfolio of applications by keeping a tab on the business value of their applications -- just like my financial planner advised for my personal finances.

 

Profiling of applications – a key step during the rationalization process -- is a keen area of interest for me. You might remember my posts on application personalities and my subsequent interviews with Outsourcing Center where I explain the concept of Applities and how the IT environment may need an extreme makeover.  Also, I was recently interviewed by Andy McCaskey of sdrnews.com where I explain the concept of using personalities to profile applications and having the right infrastructure in place for these applications.

 

What about you? What is the value of your applications? When did you last balance it? I would be curious to know.

 

For more information:

 

 

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