target audience: TECH BUYER Publication date: Dec 2023 - Document type: IDC MarketScape - Doc Document number: # US49436523
IDC MarketScape: Worldwide Strategic Portfolio Management and IT Project and Portfolio Management 2023–2024 Vendor Assessment — Driving Adaptive Business Optimization with AI and Connected Data
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Abstract
This IDC study uses the IDC MarketScape vendor assessment model to evaluate the strategic portfolio management (SPM) market, in conjunction with the IT project and portfolio management (IT PPM) market. This research enables analysis of quantitative and qualitative characteristics to provide metrics and context for users evaluating solutions in this area and also to help analyze a vendor's current comparative success in the marketplace and to anticipate vendor evolution. Main user focus areas for this market include broad, functionally deep enterprise PM functionality, with established, significant numbers of high-end 5,000–10,000+ user deployments. In addition, we are seeing the coupling of agile processes and end-to-end DevOps application life-cycle management capabilities and strong analytics and data leverage with rapidly evolving artificial intelligence (AI) and ML and, recently, especially massive adoption and increased automation capabilities for GenAI. These emerging capabilities help support actionable metrics, iterative processes, and growing demand for complex, multimodal deployments and DevOps, from cloud to mobile and embedded and IoT. Metrics with analytics based on this data can help provide visibility to understand and improve internal and external services execution on IT projects, programs, and portfolios. Also included are in-depth vendor profiles for the 15 vendors assessed, with some user reference context. This analysis complements the IDC MarketScape evaluations with assessments for value stream management (VSM) and agile PPM, cloud PPM, and collaborative work management (CWM), which enable three additional weighted IDC MarketScape views (for a total of four distinct IDC MarketScape PPM-related vendor evaluations).
"IDC continues to see expanding adoption of SPM to optimize business execution and innovation and IT PPM solutions for deep functionality and management of multifaceted, distributed IT projects, programs, and portfolios via automation to enable complex sourcing and dynamically changing, complex DevOps initiatives, with GenAI and copilots playing a vastly increasing role over the past 12 months moving into 2024," said Melinda Ballou, research director, IDC's Agile ALM, Quality and Portfolio Strategies service. "Complementing these capabilities, we observe a need for a collaborative, intuitive on-ramp on the one hand and coordinated value management, hybrid and scaled agile for businesses, and end-to-end DevOps approaches with SPM and IT PPM helping focus teams with targeted execution, cutting delays to benefit, and improving value metrics and analytics with evolving AI capabilities on the other. It is in part due to these trends that IDC has chosen to prioritize this area as one of four areas of focus for our IDC MarketScape series for PPM. Leverage of the cloud to facilitate the handoff from project inception to execution development to deployment (as well as DevOps for IT software project portfolios) also brings key benefits."