28 of 29

Write now Article Tools

In an age of global belt-tightening, requesting additional funds for new IT projects - or even fighting to keep the money you already have - may seem like a losing battle. However, it is still possible to get the financial approval you need for important IT purchases and development. A good idea is beneficial for the company in any financial environment. The key is to demonstrate that your project is the right move for the company right now. Here are 10 tips to keep in mind when making budget requests in the midst of a budget crunch.

1. Show how your project will stop the company from losing money in the short term. Many organizations are struggling just to stay afloat, and they can't justify putting cash into projects that will only bear fruit years down the line. Even projects that will increase company profits or employee productivity face an uphill battle for approval. Right now, number crunchers are looking for places to eliminate expense, not add to it. In order to get approval, you need to show that your project will reduce the company's financial losses within six months. If your project is viable in the short term, this may simply be a question of packaging. When crafting your request, use "stop loss" language, rather than "build revenue."

2. Partner with someone in the company who can help you communicate your ideas in non-technical language. One of the biggest mistakes IT professionals make is communicating so heavily in techno-speak that no one outside your department can understand what you are saying. You may be rejected simply because the executive is too embarrassed to admit that he doesn't understand the project. Remember: you are pitching your idea to someone with an expertise in finance or project management, not to a fellow IT professional. A strong writer can help you take your good idea and describe it in a way that the holders of the company's purse strings will be able to understand. If you need to make a live presentation, get help organizing your talk and cutting away all the jargon.

3. Anticipate and address every potential objection to your request. Given the financial climate, you can anticipate that management will be looking for a reason to say no. If you leave a lingering doubt in the form of an unaddressed problem, you may as well toss your request in the garbage as submit it. You may find it helpful to practice pitching your project to a colleague who can help point out potential challenges. Your goal should be to allay managements

• 1
• 2
• 3
• next page >>

Add your voice

Know something about Tips for justifying your IT budget for 2009?
We want to hear your view. Write now!