Simplifying Strategy: A Guide to Setting up ServiceNow SPM

Are you ready to start your SPM implementation journey? Today, we’re diving into the world of ServiceNow’s Strategic Portfolio Management (SPM) module. Before we get down to business, here is brief explanation of what SPM is about.

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What is ServiceNow Strategic Portfolio Management?

ServiceNow Strategic Portfolio Management is a powerful tool designed to help organizations align their projects and investments with their overall business strategy. Think of it like a high-level control tower for your organization's initiatives that will provide visibility across all your portfolios, programs, and projects. SPM helps you prioritize work, manage resources, and make data-driven decisions to ensure your organization is investing in the right things at the right time.

Key features include:

• Project & Portfolio planning 
• Demand management
• Resource management
• Financial planning
• Performance tracking

Now that we know what we’re dealing with, let’s trust the process and begin the practical steps.

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The Setup Process

1. Start by logging into your ServiceNow instance. 

2. Navigate to the "Plugins" section in your admin panel. 

3. Search for "Strategic Portfolio Management" in the plugin list. 

4. Activate the plugin – (it's as simple as flipping a switch!)

5. Configure your portfolio hierarchy to match your organization's structure.

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Importing Your Data

Now comes the crucial part - bringing your project data into SPM. This step is vital for leveraging the full power of the module. Here's how to make it smooth and effective:

1. Prepare Your Data: Gather and clean your project data from various sources. Ensure consistency in formats, remove duplicates, and fill in any missing information.
2. Map Your Data: Review the SPM data model and create a mapping document that shows how your current data fields correspond to SPM fields.

3. Import and Transform: Use ServiceNow's Import Data module to upload your prepared data. Choose the appropriate import set table for SPM (e.g., Project, Program, Portfolio) and use transform maps to correctly place your data into SPM tables.
4. Validate and Refine: After importing, thoroughly check your data in the SPM module. Look for any anomalies or missing information and refine your import process as needed.

Remember, good data is the foundation of effective portfolio management. Take the time to get this step right, and you'll set yourself up for SPM success!

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The Benefits of ServiceNow SPM

1. Comprehensive Overview: Get a clear, holistic view of your entire portfolio.
2. Smarter Prioritization: Score and rank projects based on strategic value and alignment.
3. Efficient Resource Management: Allocate resources more effectively with data-driven insights.
4. Financial Clarity: Predict and track financials with greater accuracy and ease.
5. Enhanced Collaboration: Break down departmental silos and foster teamwork across the organization.

You did it!!

Congratulations! You've just upgraded your organization's strategic capabilities. With ServiceNow SPM, you're not just managing portfolios; you're crafting the blueprint for your company’s future.

Now, this was just a high-level overview of setting up SPM—there’s a whole lot more within the module that can take your strategic capabilities even further. And guess what? RapDev is here to help you unlock every bit of it! So, go ahead and flex those strategic muscles! Remember, in the world of Strategic Portfolio Management, every decision is an opportunity to align your projects with your company's goals. Here's to making strategy a reality, one portfolio at a time!

Learn more about our SPM offering or reach out to us at chat@rapdev.io