The goal of Application Portfolio Management is to reduce the cost of owning the portfolio. The fundamental premise is this:

• We own a lot of code.
• It costs a lot to maintain our code. (too much)
• Management wants to be able to make cuts in the maintenance budget.
• We don't know which costs are optional and which costs are necessary
• APM answers that question, allowing us to cut unnecessary maintenance costs

Something like that anyway. (OK... it's a b