A useful and valid business case is a collaborative effort between business sponsors, the CFO, and IT. In order to assist our clients with building business cases and cost analyses for IT investments, STA is providing a service called Smart-IT.
This analysis tool compares the costs and benefits of continuing to purchase stand-alone desktop PCs with the costs of replacing them with server based virtual desktops.
I recently completed what I feel is an excellent book about executive decision making, project selection, and project portfolios. The book, A Fish in Your Ear, authored by Micheal Menard, provides an enlightening look into the subject of project selection and how the process can be improved.
Many CEOs and CIOs would agree that one major stumbling block in communicating the value of IT is the language gap. The key to demonstrating the contribution of IT investments to shareholder value is to link IT business case benefits to the drivers of shareholder value.
Industry surveys suggest that a large percentage of organizations are deploying or will deploy mobile apps on smartphones this year. Prototypes are being developed that target a future in which mobile devices, business applications, supply chains, warehouses, e-commerce sites, and business intelligence systems coalesce in one ecosystem.
When organizations make decisions about IT investments, one of the most common problems they encounter is the seemingly simple issue of the cost of the investment and if it will make or save money.
How much money should be spent on IT by an organization can be the subject of heated debate. Since IT is highly integrated with so many activities there always seems to be requests for more capital and operational spending.
A company or organization that effectively leverages IT regardless of strategic focus would be considered by most to be “good at IT”. Leveraging strategy via IT means targeting technology investments to enhance specific strategic objectives.
Is a portfolio of IT assets similar to a portfolio of financial assets? In some ways yes, in many ways no. Successful investors and mutual fund managers tailor their portfolio of investments based on constantly evolving risk-benefit analyses. They do so with a deep understanding of the fundamentals associated with the investments in their portfolios.
It is always very important to minimize costly mistakes and maximize return on capital investments. In today’s economic climate this is more vital than ever. I contend that building thoughtful, solid business cases for all major capital investments, including IT investments, is a critical best practice. Yes it requires knowledge you might not have, yes it takes time, but avoiding it can lead to a great deal of pain down the road. Embracing it could expand your career horizons.
I wanted to take the opportunity to let you know that Cosmo did an amazing job with our setup and configuration. His in depth knowledge… is clearly reflected in his performance. Cosmo gets an A+.