Published on February 18, 2014
IT Funding Getting the Funding you Need
Business Situation: " " " " " " Delivering Business Value Cost Control - doing more with less Managing risk Increasing sales Increasing customer retention No funding for anything that does not CLEARLY support these goals
Problem: " Lack of IT funds to do the job right
Implications: " Potential for burnt out, highly frustrated people with high staff turn-over " Stressed at work, at home " Never able to turn work off " Putting out one fire after another without ever feeling that you are getting ahead " Business suffers as a result
You Need: " A PLAN to get ahead of the issues " But first you need to ...
Understand Where the Problem Lies " Disconnect between business and IT " IT treated as an expense, not an asset " IT left alone to " IT not user friendly " and more... " which leads back to the problem... play with its toys
How do you get the funding you need? " SOLUTION: Become aligned with the goals of the business " Which... " Ties you directly to the business results " Then you will get the funding to support the initiatives! "
3 Step Approach 1. Create IT Health Check 2. Create Portfolio Analysis 3. Address disconnects with one or more Methods of: 1. 2. 3. 4. 5. Planning Innovation Prioritization Alignment Performance Measure
1. IT Health Check Past, Present and Future view of IT in your business Delivery Technology Strategy People Systems
2. Portfolio Analysis " Vital key for decision making " Allows us to manage our resources so we can make informed decisions for planning purposes Applications Infrastructure Management Services Information
3. Methods Prioritization Innovation Planning Alignment Performance Measures
Goal Image from: From Business Strategy to IT Action (Benson, Bugnitz, Walton)
3. Methods " " " " Planning: Improved business and IT planning with appropriate resource allocation Innovation: New, innovative solutions may be developed as IT will be brought into the annual planning cycle, again, helping the company and its stakeholders succeed Prioritization: Projects will be prioritized in line with corporate objectives Alignment: Business value will increase and cost of IT will be controlled when both are aligned " Cost may increase or decrease based on requirements, but the costs will be aligned with business objectives
3. Methods " Performance measurements: " Leading measures: Measure activities and processes that drive results such as Capability Maturity Model Integrated (CMMI) " Lagging measure: Measure past performance, such as cost, quality and service levels
Benefits " Improve IT’s value to the business " Increase realization of return on investment " Improve delivery efficiency " Improve control of IT costs " Reduce risk " Improve user satisfaction
Benefits " Receive funding for projects that matter in the eyes of the business " IMPROVE YOUR QUALITY OF LIFE!!!
Contact Information " Robert Narejko: 416 880-4040 " Rob@base22.com
FM-1 Chapter 11. FUNDING METHODS A. Introduction Funding is more than just securing financing to build a project. Funding a project should be
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