What is the term for the strategic IT initiative that targets a portfolio of applications and rationalizes underlying technology with a new tech stack?

The correct term for the strategic IT initiative that focuses on a portfolio of applications and seeks to streamline the underlying technology by adopting a new tech stack is known as Legacy Modernization. This process involves updating or replacing outdated systems that are no longer efficient or effective, with the goal of utilizing more modern technologies that can enhance performance, improve maintainability, and reduce costs.

Legacy modernization addresses the challenges associated with older applications, which may not integrate well with newer systems or support current business needs. By revitalizing the tech stack, organizations can achieve better alignment between their technology and business strategies, particularly as they adapt to new market demands or technological advancements.

While the other terms may relate to aspects of technology management or improvement, they do not encapsulate the full scope of updating an entire portfolio of applications alongside their underlying technologies in the way that legacy modernization does.