I heard an interesting comment from an executive at one of the big services firms - that application portfolio management (APM) efforts must begin by mapping business processes for the applications. I really don't agree, but thought it would make an interesting topic to discuss here. Part of the argument stems from how services firms are routinely engaged - to take action against one application or a group of applications to transform, re-engineer business processes, reengineer, refactor or otherwise modernize an application. All are useful activities and techniques, but they are not portfolio management techniques - they are modernization techniques. Modernization and APM live together on a continuum of application activity that includes in order:
Modernization - the actions we can take against an existing application - monitor & maintain, modernize in some way, replace (rewrite/pkg) or retire.