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ITBM

New ServiceNow Scenario Planning and Strategic Spend Tracking Capabilities

It’s been said that ‘necessity is the mother of invention’ and that has certainly proven true with the two most recent ITBM applications, released from ServiceNow last week, in response to an immediate need for greater scenario planning and a pointedly strategic approach against what most Demand and Portfolio Managers thought would be ‘the plan’ for 2020 and beyond.

These off-release cycle launches are very welcome solutions that will be much appreciated by any organization’s financial planning and demand management teams, many of whom are in adaptation mode, pivoting and responding to the unexpected Covid-19 Emergency.

Scenario Planning for PPM

The Scenario Planning for PPM application replaces the existing Portfolio Workbench and provides for scenario planning capabilities in greater depth than ever before.

The difference between existing Portfolio Workbench and this new Scenario Planning application is that it allows Portfolio Managers to plan their portfolio investment, work and resources using multiple “what-if” scenarios to facilitate real-time and actionable planning. Scenarios can include a collection of project and demand selections and include different means for funding them. The apps also features a set of tools to analyze financials investments and benefits, resource utilization, and strategic alignment of the selected projects and demands, as well as a comparison module for side-by-side scenario comparison.

Additionally, these new capabilities help to track the performance of the portfolio plan.  If changes are needed in response to an organization’s evolving plan, additional planning can also be reviewed using scenarios.

The Scenario Planning for PPM app enables you to:

  • Build, maintain, or change your portfolio, alone or with a team, using real-time scenario planning
  • Set and edit a target portfolio budget by fiscal year (OpEx, CapEx, and totals)
  • Analyze resource usage related to a given scenario or active portfolio
  • Take action:  Select/de-select demands and projects for execution
  • Assign a budget for demands and projects selected for execution
  • Compare multiple scenarios and confirm the scenario that works best
  • Track portfolio performance and adapt, as needed
  • Use scenarios to revise and override a previously confirmed plan

How does it work?

Much like the existing Portfolio Workbench, the Scenario Planning for PPM application is accessed from the Project menu.  Based on those projects or demands that have been tagged with a specific Portfolio on their respective records, they will show up as part of Plan.

PPM ServiceNow Dashboard Screenshot

Click the (+) button to add a Scenario.  Notice that the existing scenario will be copied for a starting point to leverage to add any proposed changes.

PPM ServiceNow Add New Scenario Screenshot

Make any changes to the new Scenario and then click the ‘Compare Scenario’ button in the upper right hand corner.

PPM ServiceNow Screenshot

Compare your results.

Like what you see?  Click the Override button at the bottom of the new Scenario to confirm and become the new Plan. Confirm your choices and you are off to the races!

This fresh new approach and the visualizations are sure to impress our ITBM clients.  We will absolutely be including this new application in all of our upcoming projects and sharing the great news with our existing clients.

How is it installed?

Strategic Spend Tracking for PPM

The Strategic Spend Tracking for PPM application enables you to align your projects and demands with organizational strategies and goals and allocate a percentage of the demand or project’s total cost and benefits towards their achievement.

This information is then surfaced through the Strategic Spend Tracking for PPM dashboard that enables you to visualize your projects, aligned to organizational strategies and goals, with real-time planned and actual spend with projected benefits, prorated by the allocation % indicated. Additionally, you can view the demand and project details for a specific strategy, rolled up to show the full financial projections.

The Strategic Spend Tracking for PPM application enables you to:

  • Align strategies and goals with demands and projects as part of a Benefit Case
  • Allocate a percentage of demand or project cost or benefits towards achievement of one or multiple strategies or goal
  • Create fiscal period specific breakdowns representing strategy and goal allocation towards your project/demand
  • Monitor the financial performance of project and demand made to deliver specific goals and strategies

How does it work?

At the Demand or Project level, Strategies and Goals are added on the existing Business Case tab.

Strategic Spending ServiceNow Screenshot

On the new Strategy Allocations and Goals Allocations related lists, the Strategies and Goals selected on the Business Case will be shown as entries.

Within each record, the Allocation of the Strategy or Goal is expressed financially at the header and in breakdown periods.

Access the Strategic Spend Tracking for PPM Dashboard to view all relevant data.

How is it installed?