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IT-Business Skills Training

IT Budgeting Basics

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IT Budgeting Basics


IT Budgeting Basics -- Two-Day Seminar:  Knowing what budgets are, how they work, and the basic terminology is a prerequisite for anyone that plans or manages IT resources. Learn how budgets really work and how IT pros can use it to improve their performance.

Budgeting is a core enterprise management system; budgets are a concrete statement of strategies and plans in dollar terms. Yet, budgets and budgeting continue to be a source of confusion and frustration to most non-financial professionals.

It's no wonder; to those who have never learned the basics the process seems like a maze, budget documents can be intimidating and financial specialists speak a foreign tongue.

This fast-paced course demystifies the process, explains the documents, and translates the language of budgeting into plain English. Participants learn by following a series of case study IT projects and activities through a simulated budget process from initial concept throughout their life cycles.

In addition to the language of budgeting, participants learn:

  • how budgets are made for both IT projects and recurring activities
  • why the budget process and budgets work the way they do
  • who is involved and why no one will speak for the IT organization if IT professionals donít participate effectively
  • what they can do to make budgets more useful

Ultimately, most IT professionals learn about budgeting when they can see how it will help them do their jobs. Thus, special attention is devoted to common process and budget difficulties that impede the IT organizationís work and practical solutions that will make a difference.

Course Topics


Budgeting Process Overview

  • How budgeting works Ė what it means for the IT organization
  • Myth and reality of budgets
  • How IT proís can derive more value
  • 5 reasons budgets fail; doing it right


The Making of an IT Budget

  • How business "needs" become funded projects and activities
  • Linking strategic, business & IT plans
  • Why the process stalls; what to do
  • What a budget tells about priorities


Budgets -- In Plain English

  • The building blocks of a budget;
  • The different kinds of budgets
  • What statements like "no money" really mean


Implementation:  Managing to a Budget

  • What it means; ITís role
  • When goals change, so do budgets
  • Reading the story behind the numbers

 

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