If you use SharePoint to corral incoming project requests to your IT department, you should check out the Project Server-based request management and evaluation system created for Microsoft by Scott Jamison and the folks at Jornata. I had an opportunity to get a preview of the solution back in March, and it answers many of the issues I've seen my clients and colleagues have in terms of tracking and prioritizing application requests. One of the features I like best about the system is that it enables users to assign Strategic Impact to each request (often left behind when Who's Screaming Loudest - I mean, Priority - is the main evaluation category). While Project Server may not be within the scope of all IT departments, I still recommend a review of this solution for its mature approach to project tracking.
The system was released this past month at TechEd, and Scott will present it at SPTechCon Boston this week.
For more information, you can: