Stressed about your IT budget? Going into Q4 unprepared can cost you – literally. Get boardroom ready with our IT Cost Calculator and these IT budget planning must-haves to present with ease and make this budget season your victory lap!
1. Executive Summary of IT Objectives
- Brief overview of your IT strategy and how it aligns with the company’s overall goals
- Key initiatives planned for the year like upgrades or software rollouts
- Highlight any current challenges and opportunities that the proposed IT budget planning addresses
2. Current State Assessment
- Summary of current IT performance including uptime, system performance, or user experience
- Overview of recent improvements or successes that showcase progress or ROI on past investments
- List of any ongoing issues or risks like outdated equipment or vulnerabilities that need addressing
3. Creating an IT Budget Roadmap
- Detailed list of projects broken down by hardware, software, security, etc.
- Outline of one-time vs. recurring expenses and emphasis sustainable costs
- Highlight potential cost-saving measures like outsourcing IT
4. Cost-Benefit Analysis
- Expected ROI for each major initiative like increased productivity, reduced downtime or better data security
- Show case long-term savings associated with proactive investments like system upgrades reducing maintenance costs
- Any direct revenue impact of IT investments like new tools supporting sales or customer service improvements
5. Risk Assessment and Mitigation Plan
- Proposed solutions for each risk, emphasizing preventative measures and backup plans
- List of key risks the company faces in terms of IT like cyber threats or compliance risks
- Overview of insurance or warranty plans to protect critical IT infrastructure
6. Compliance and Regulatory Requirements
- Summary of any regulations the company must comply with like data privacy laws or industry standards
- Overview of planned investments to maintain or enhance compliance
7. Cybersecurity Strategy
- Brief description of the current cybersecurity posture including known threats and vulnerabilities
- Overview of plans like enhanced firewall protection, employee training, or endpoint security tools
- Metrics showing improved security like reduced phishing incidents to illustrate progress
8. Timeline and Implementation Plan
- High-level timeline for each proposed initiative, including key milestones and expected completion dates
- Prioritization of projects based on urgency, IT budget, and impact
- Highlight of any resource needs, like additional personnel or specialized skills, for timely implementation
9. ROI Projections and KPIs
- Expected Key Performance Indicators (KPIs) that will track the success of each IT investment like response times and user adoption rates
- Timeline for when ROI should be measurable, and any savings anticipated in upcoming years
- Clear connection between IT KPIs and organizational goals to illustrate strategic alignment
10. Support and Training Plan
- Outline of the support needed for IT implementations, including any training for employees
- Overview of internal or outsourced resources to provide ongoing support, minimizing disruptions
- Highlight the benefits of training and support for maintaining high productivity
11. Scenario Planning for Flexibility
- Brief mention of contingency plans for each major project, like scaling up or down depending on budget
- Examples of adaptable measures to handle unexpected shifts like vendor flexibility and scalable solutions
- Outline of phased approaches for projects, making it clear which initiatives could be deferred if necessary
12. Clear Call to Action for Board Members
- A summary slide or final point outlining the board’s required actions, decisions, or approvals
- Overview of timelines or deadlines for decisions to keep IT budget planning on track to final project
- Emphasize the positive impact of the board’s support on organizational success and stability
Make Q4 Planning Easy!
Check out the ONE 2 ONE IT Cost Calculator to get an estimate on cost for Co-Managed or Managed IT Services.
