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!
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
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List of any ongoing issues or risks like outdated equipment or vulnerabilities that need addressing
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
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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
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
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
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
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
NIST Assessment
Taking a 15-Minute Essential NIST Assessment will get you one step closer to compliance and provide a roadmap to address any IT vulnerabilities.
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
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
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
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
Download: IT Budgeting Checklist
Not Sure Where IT Costs Fit in Your Budget? Lack of clarity can lead to pushback. Get the confidence to present a solid proposal with our IT Cost Calculator and your checklist below!
