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Manage an IT Budget

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It is more difficult to manage a thing than to create it – and for CIOs and budgeting this holds true. With continually changing expectations and delivery models, disruptions, new risks, and new threats – how does the CIO accommodate the management of the budget?

Your Challenge

  • No formal mechanism in place to manage your budget. A mechanism that tracks where data is coming from, ensures its accuracy, and monitors past and upcoming expenditures enables the budget to be effectively managed and controlled.
  • Over budgeting due to business units deferring projects or a lack of resources available to IT. If you fail to deliver the initiatives forecasted in your budget, your credibility will be damaged, negatively impacting your ability to secure adequate IT budgets in the future.
  • Under budgeting due to injections – last minute projects or unanticipated expenses. Many forecasted projects will be discarded with others taking their place. Injections require the flexibility to re-allocate funds and political astuteness to request budget increases.

Our Solution

  • Our methodology will help you draw direct links between the IT spend and the business value created in a way that is easy to communicate to and be understood by the business.
  • Our approach to handling deferred projects by the business units will give you the flexibility to reallocate your budget and reduce the risk of over budgeting.
  • Our program will enable you to manage the expectations of the business stakeholders, the business units that you serve, and your internal IT department.
  • Our program will help you reallocate funds from previously approved projects to new projects, and when necessary ensure a budget increase for injections near the end of the fiscal calendar.

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Search Code: 84562
Published: September 21, 2017
Last Revised: September 21, 2017