The objective of this research is to analyze some Brazilian companies' use of ITPM technique as an aid to their IT investments management. It was carried out in five case studies in different Brazilian companies from several economic sectors which were using the technique or were in the initial implementation phase. Eight interviews were conducted. The persons interviewed were high-level executives working in the IT department in the studied companies. Different levels of ITPM use was found regarding IT investment management (planning, control and evaluation). It was observed, in the analyzed cases, that ITPM is used most frequently in IT investment planning, which is the process most discussed and used in analyzed companies. The ITPM technique is used more frequently in Company 2 than in the other cases because the organization of the IT area in the company is structured according to ITPM dimensions. The technique has received little attention in IT research and ITPM research is still very limited in the information systems literature, a possible reflection of its academic importance. To highlight its practical use, ITPM has been considered a useful and accessible tool which aid IT executives in better managing and justifying investments in technology.