This is in continuation of my previous post on IT Portfolio Management and its flavors where people have requested for expanding this topic. So here it is what I have gathered from my interaction with a few analysts. . .
IT Portfolio Management can be comprised of:
>> New Initiatives
>> Infrastructure Investments
>> Externally mandated initiatives
>> Current Investments

These results in various flavors of Portfolio Management that I have talked about. Lets look at them one-by-one.
You can read about ERP for IT in this journal.

1) Project Portfolio Management
Purpose is:
>> to manage New Initiatives or Projects currently underway
>> to monitor activity and resource information

Goal is:
>> Elimination of redundancy
>> Better resource utilization
>> Real-time business value metrics

2) Application Portfolio Management
Purpose is:
>> to inventory existing apps and tie them to business processes
>> deliver management intelligence about apps

Goal is:
>> Better alignment of maintenance and renewal decisions with business goals
>> Disaster recovery and business continuity planning

3) Enterprise Infrastructure Portfolio Management
Purpose is:
>> to Manage IT Assets
>> to Deliver system performance information

Goal is:
>> Better License Compliance
>> Better maintenance and replacement requirements for improved utilization


whereas I can sum up IT Lifecycle Management as a combination:
1) Project Portfolio Management
2) SLA Management and
3) Collaborative Development

If you have apetite for more then I would recommend getting hold of any analysts from Gartner, IDC or Forrester to brief you about it or better procure a few of their reports for details.