We are looking to perform a business driven application portfolio governance program.  However, in all that I read, we should start by tying the applications to business capabilities.  Since most manufacturing companies share 80%+ of the same capabilities; is there a "master" list of capabilities somewhere which we can start from?  This will help us map our applications to capabilities and show the redundancy I believe we have.  Thoughts or suggestions?

Here at Ryder we have used the LeanIX Business capability model (BCM) as the basis for defining Business Capabilities. I believe it has some industry specific variants. We then import the model in to our ITSM/ITOM platform - SericeNow. We have had to make some customizations to reflect our Fleet Manage Services. Once the BCM was loaded into ServiceNow, we then loaded all of our Business Applications and Technical Services into ServiceNow and did the relationship mapping between the Business Applications and the Business Capability they deliver.

Hi all. The first thing to do is build your business capabilities map, and once done, you should be able to map your applications to it.  Here is a great article by LeanIX (an SAP company) that describes what I just said: https://www.leanix.net/en/wiki/ea/business-capability.  

Michael, thanks for your references :)

Great question and I have an answer for you. I would highly recommend leveraging the Business Architecture Guild's industry reference model
https://www.businessarchitectureguild.org/store/default.aspx

https://www.businessarchitectureguild.org/store/ListProducts.aspx?catid=677483

You pay by the model, however, it would be cheaper to pay for a membership. 

Cheers, Michael