IT portfolio management is concerned with evaluating individual IT investment opportunities.

IT portfolio management encompasses a broader perspective than merely evaluating individual IT investment opportunities. It involves the systematic evaluation, prioritization, and management of an organization's various IT investments and initiatives to ensure they align with the organization’s strategic objectives and deliver optimal value.

This process considers the entire portfolio of IT assets, projects, and programs rather than focusing on isolated investment opportunities. By analyzing the entire landscape of IT initiatives, organizations can better allocate resources, minimize risks, and maximize returns. This holistic approach allows for better decision-making regarding which projects to pursue, maintaining a balance among risk, return, and strategic alignment.

In summary, IT portfolio management evaluates multiple investment opportunities in the context of the overall strategic goals of the organization, making the assertion in the statement incorrect. Therefore, the correct answer is that the original statement is false.