Just came across Cognizant, in particular this presentation. Hot stuff. Quantitative application portfolio management based on IT service management; the real deal. (See this paper by Verhoef for a rigorous overview.) The paper emphasizes (as do I) that most IT money goes to operations and support/maintenance, implication being that application portfolio management is more of a priority than project portfolio management. They also mention the portfolio management practice at Merrill Lynch and even use the word "meta data" (more who are seeing the convergence in IT management...)
One implication of all such efforts: only a mature operational shop can benefit. If you don't have your projects, systems, incidents/problems, and maintenance efforts all working from the same common set of applications and projects, you'll never get the numbers together to support quantitative application portfolio managment (QAPM, to coin a new acronym).
