Kevin Sookocheff busts out the 2×2 matrix:
Application Portfolio Management (APM) draws inspiration from financial portfolio management, which has been around since at least the 1970s. By looking at all applications and services in the organization and analyzing their costs and benefits, you can determine the most effective way to manage them as part of a larger overall strategy. This allows the architect or engineering leader to take a more strategic approach to managing their application portfolio backed by data. Portfolio management is crucial for creating a holistic view of your team’s technology landscape and making sure that it aligns with business goals.
This is for C-levels and VPs rather than individual contributors, but acts as a good way of thinking about a portfolio of applications and what to do with each.