1. People: Create a cross line-of-business governance body

2. Policies:  Set standards that define an application compliance and rationalization strategy

3. Processes: Workflows to rationalize the existing inventory and handle change events

4. Technology: Automate application rationalization to avoid spreadsheet chaos

To view the entire document please visit http://futurestateit.com/2013/07/09/4-keys-to-implementing-an-application-rationalization-practice/