![]() Since it can now take a year to get new hardware, people with budget authority should be aware that some 2023 projects and initiatives may not start until 2024.Ĭonsult with IT on potential new technology needs.īefore preparing their final reports, participants should schedule times to talk with IT about their potential needs. Your IT roadmap drives effective IT budget planning.ĭetermine technology needs for 2023 - and think about 2024.Īssess whether existing IT tools and resources will meet your needs over the next 12-24 should be a dash, not a hyphen months. People with budget authority review your current IT roadmap.Įveryone who needs IT dollars should be familiar with the current state of your company’s IT environment and your strategic-level IT planning for the next few years. Invite your budget-planning team, a risk-assessment steering committee representative, key department heads, a c-level executive, and your CIO or MSP to attend. Everyone with budgeting authority needs to prepare a report even if they’re not attending the session. Schedule your hands-on strategic alignment session.Ĭonfirm the date. ![]() Your IT team needs to be able to make time available for individual meetings. Your risk assessment findings and proposed solutions are critical pieces of your IT budget.Įach person with budget authority and expects new technology needs should loop in IT as early as possible. Include your risk assessment steering committee.Ĭybersecurity and other security management activities require funding - possibly more than you expect. Each department lead will want to schedule one or more IT budgeting sessions with their team to discuss everyone’s ideas and focus on goals. In Leapfrog’s experience, the process works best when all department leads are included in planning and are able to advocate for what their teams need to meet the company’s strategic goals. Include each person with budget authority. Given inflation, supply chain challenges, and the other differences noted above, 1Q2022 would have been a good time to start your IT budgeting process. Typically, we have recommended starting six months before the budget is due - but 2023 is not typical. Let people know what’s expected and when. Here’s a breakdown of what happens during each step: Step 1: Schedule and invite It also enables your IT department or partner to weigh in early so they can provide input and ultimately design the most affordable solutions to integrate with your existing technology. This process gives everyone enough time and enables your team to work together to focus on your business goals (instead of last year’s spending). Here’s the high-level framework that can help you hit the mark each year, regardless of current circumstances: Yet, after having participated in hundreds of IT budgeting processes and seeing how those budgets play out, there are clear best practices any organization can follow, yours included. Our clients differ in size, industry, and growth objectives. We’ve built budgets during booms and recessions, periods of massive technological transformation, COVID-19 - every year for more than two decades. Why does the 5-step process that we recommend work?įor 24 years, Leapfrog has been helping clients develop successful IT budgets.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |