Portfolio Management

Actual project costs come after you create expense lines for cost plans or after human resources use time cards to create expense lines.

As a portfolio manager, you can perform financial planning for a portfolio for a fiscal year using the portfolio workbench. Portfolio planning can be completed using either simple or advanced mode.

Account code, or budget key, expenses are records that show general ledger amounts for a budget key. The amounts are aggregated for each fiscal period.

With the ServiceNow Portfolio Management application, you can create portfolios which are collections of related programs, projects, and demands. You can then perform financial planning and monitor the status and progress of these portfolios.

Portfolio Dashboard provides a central location to a portfolio manager to generate different graphical reports of the portfolios.

The portfolio workbench provides a central location for viewing a list of associated demands and projects, planning a portfolio, and tracking its progress. Portfolio workbench is deprecated in the Paris release. Portfolio workbench is still available on instances upgraded from a previous release but is not available for new instances.

Balance the cost and resources by changing the start date of a demand or a project and shifting it to a different fiscal period.

Modifying the planning type and scope impacts the demands and project selection in your planning scenarios and portfolio planning. You can change the planning type and scope at any time during portfolio planning.

Compare various planning scenarios with your current or default plan to assess different combinations of projects and demands in your portfolio for execution. You can perform a what-if analysis and determine the planning scenario that optimally achieves the target budget and uses your resources.

Configure the scenario planning type and select the scope of portfolios to determine the way you want to plan and work on your portfolios. You can also specify using Investment Funding for funding demands and projects in your portfolios.

Select and confirm a scenario to allocate budget and resources for executing the selected demands and projects in a fiscal year.

The budget period controls the promotion of the budget plans. Budget plans created for a fiscal year can be promoted only if the budget period is open.

As a portfolio manager, you can re-estimate (forecast) the portfolio budget for future periods based on the actual cost and changed project requirements.

Create planning scenarios with different combinations of projects and demands in your portfolio. Experiment with different scenarios to plan your budget expenditure for a fiscal year.

View all the demands and projects scheduled for the selected fiscal year with their planned cost, resource requirements, and priorities to finalize them for execution.

The financial planning workbench is a central location to manage budget tasks, review, and approve the promoted plans. Financial planning workbench is deprecated in the Paris release. Financial planning workbench is still available on instances upgraded from a previous release but is not available for new instances.

Forecast periods are similar to budget periods that aim to control the promotion of forecast plans.

As a project or portfolio manager, you can forecast the future costs of projects and portfolios based on the actual cost and changed project requirements. Budget forecast is deprecated in the Paris release. Budget forecast is still available on instances upgraded from a previous release but is not available for new instances.

Install the Scenario Planning for PPM application from ServiceNow Store applications. Visit the ServiceNow Store to view all the available apps, and for information about submitting requests to the store. For cumulative release notes information for all released apps, see the ServiceNow Store version history release notes.

Several types of components are installed with the installation of the Scenario Planning for PPM application, including tables and demo data.

The planned cost of cost plans in portfolio when promoted by portfolio managers are converted to budget plans. The base system has a seeded read-only budget definition Portfolio Budget Planning Process used for the promotion of portfolio.

The Scenario Planning for PPM application provides a central location for portfolio managers to create and track the roadmap for project execution for a given fiscal year. Optimize your budget and resource usage by creating and comparing different scenarios for your project and demand roadmap or resources.

Rank demands and projects to prioritize demands and projects for their approval and execution within a portfolio.

Repromote the budget plan to reflect the modifications in the portfolio budget that resulted because of a change in demand or project selection planned cost.

If the portfolio forecasted cost has been modified, as the portfolio manager, you can repromote the forecast plan to reflect the changes reflected in the forecast plan.

Review the external dependencies between projects in a portfolio to track projects that are dependant on each other more closely.

When planning for a portfolio or all portfolios, start by selecting the fiscal period for the demands and projects that you want to work with. You then set the target amounts for both operating and capital expenses of portfolios when Scenario Planning is not integrated with Investment Funding.

After you create a planning scenario, select the demands and projects to include in budget planning. You can view all the demands and projects for the selected fiscal year or planning window with their planned cost and priorities to finalize them for execution.

Plan your portfolios using scenarios for a single fiscal year or multiple years after analyzing utilization of resources against available capacity. Include demands and projects in all portfolios or a single portfolio to evaluate, prioritize, and select demands and projects that match your business objectives.

Review the external dependencies between projects in a portfolio to track projects that are dependant on each other more closely.

View different graphical reports on the PMO Dashboard.

When you access the portfolio workbench, the dashboard displays a list of all the portfolios.

As part of the PPM Standard (Project Portfolio Management) integration, you can create and promote a budget plan for a portfolio.

A budget target is an estimated amount of money for a specific fiscal period and budget key combination for operating and capital expenses. Use budget targets to set up a financial goal for a budget plan.

Create a portfolio to manage related programs, projects, and demands.

Open the status list of a portfolio to see the projects that are included in it.

After you complete financial planning, you can start tracking the progress of the portfolio. The portfolio tracking view displays only the selected demands and projects in the portfolio.

The first step in both Simple and Advanced planning for a portfolio is to select the fiscal period for the data that you want to work with. Next, set the target amounts for both operating and capital expenses.

After you select the fiscal period and set budget targets, select the demands and projects to include in budget planning. You can view all the demands and projects lined up for the selected fiscal year with their planned cost and priorities to finalize them for execution.

After confirming a scenario to complete planning of your portfolio, track the progress of the portfolio. You can also monitor the status of cost, resource, schedule, and scope for the selected fiscal period or planning window for the portfolio.

Once the financial planning is complete, the Track Portfolio option in portfolio workbench is enabled. You can track the progress of demands and projects, and monitor the status of cost, resource, schedule, and scope for the selected fiscal period for the portfolio.

After you configure the budget process definition, you can initiate a budget. Open the budget period. Use the financial planning workbench, and select the fiscal period and the budget plan definition, and generate a budget task.

Use the financial planning workbench to view the portfolio budget plan promoted by portfolio manager, which is initiated in Project Portfolio Management and converted as a budget plan in Financial Management.

When you are using Project Portfolio Management with Financials, you can view actual project costs on cost plans and projects.