Storyboard: Wow the CFO with an IT Budget that Demonstrates Value Delivery


Wow the CFO with an IT Budget that Demonstrates Value Delivery Storyboard Sample
Get Instant Access
To unlock the full content, please fill out our simple form and receive instant access.

Budgetary approval can make or break your year. A good budget proposal can get you the funding you need to meet business needs. A bad budget proposal can result in downward cost pressure that decreases service levels. 

IT is viewed as a cost center, and getting funding to support innovation and maintain service levels is challenging. IT cost pressure is fueled by negative sentiment; people feel that IT costs are too high and that IT has not delivered value.

Budgetary approval is difficult because finance executives have a limited understanding of IT and use a different vocabulary. Budgets must be constructed at the invoice level to be transparent, but this results in complexity that is confusing.

  • Knowing the initiatives business units will propose allows you to get a head start on forecasting IT costs.
  • Pre-sell ideas. Quick face-to-face chats about how a new initiative could benefit the organization can go a long way.
  • Do not pad key innovation project budgets; building the case for approval is difficult enough as is.
  • Forecasting operating costs requires an accurate view of historical costs and an understanding of how business changes will affect IT costs.
  • Anticipate the questions that will be asked; discretionary projects are often criticized and challenged. Think about areas that people will focus on, do research, and be ready to respond intelligently.

An IT department can’t squeeze dollars out of rocks. Tie cost reductions to service reductions and deferred projects.

Related Content

GET HELP Contact Us
VL Methodology