Application professionals are turning to application portfolio management (APM) to address these challenges” (Murphy, 2011). The concept of application portfolio management involves the development and implementation of three interrelated capabilities. The first of these capabilities is the articulation of a strategy including objectives, deliverables, and a set of governance procedures to help guide application portfolio management. The second capability is the creation of an application inventory to successfully monitor and evaluate key attributes of the organization's existing applications. The final capability is to build an analysis and reporting structure to streamline the application portfolio in accordance with the strategic plan that has been developed.