“Service portfolio” (also commonly referred to as a “service catalog”) is a separate term used to represent a set of the services within a given IT enterprise. The distinction between service inventory and service portfolio is important as these and related terms are used within different contexts, as follows:

• A service inventory represents a collection of implemented services that are independently owned and governed.
• The service inventory analysis is a modeling process by which service candidates are defined for a new or existing service inventory.
• A service inventory blueprint is a technical specification that represents the result of having performed a service inventory analysis. Subsequent iterations of the service inventory analysis process can expand or further refine a service inventory blueprint.
• The term “service portfolio” has a less specific definition than service inventory in that it can represent all or a subset of the services within an IT enterprise.
• A service portfolio often exists as a high-level documentation of services used for planning purposes.
• A service portfolio most commonly encompasses one or multiple service inventories.

Service portfolio management is the practice of planning the definition, delivery, and evolution of collections of services. A service portfolio governance effort may be limited to a set of domain-specific services or it may be dedicated to establishing an enterprise-wide governance system.