What is ServiceNow SPM module?

SPM stands for Strategic Portfolio Management. Every company has a bunch of projects that it is considering working on. But how would they decide, which projects best align with their overall corporate strategy. To keep things simple, let's assume that their corporate strategy is to work on projects that would help maximize their revenue; in words, projects that would make them the most money. 

So how do they pick those out of a bunch? (It might be tempting to say that they should work on all projects that they can think of but that's not always feasible. For some projects, they might not have the skills, some might not be feasible because the expenditure might outweigh the return, some might not give enough ROI etc.) So, they pick projects that they have the skills and the financial capability to work on and that would also help maximize their overall revenue and profit. 

Once the right projects have been selected, the company needs to make sure that all of their resources (time, money and skills) are being utilized in the most efficient manner, and no resources are wasted. 

After the project is complete, the company needs to make sure that the outcome of the project matches the desired outcome. If it does, then the project is a success, otherwise, they need to analyze the project, figure out why it failed so they do not make the same mistakes in future and if feasible, redo this project and try to make it a success.

This is all, what SPM helps the company do.

To summarize, SPM is about picking the right projects, allocating resources (skills and financing), ensuring efficient execution (efficient use of resources) and after the project is completed, evaluating if the project was a success or failure. And if it was a failure, evaluating if it's feasible and beneficial to redo the project or not.

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