by Nancy Gilliam

Created on: January 20, 2009   Last Updated: January 27, 2009

The process of allocating funds for new projects can be daunting under favorable economic conditions. Factor in the current state of the economy, and the task becomes even more grueling. The bad news is that in the year of 2009, the task of rendering a favorable response when attempting to allocate funds for your IT budget will not be an easy one to undertake. The good news is that we are living in the Information Age. Information Technology is so thoroughly ingrained in the infrastructure of both the private and the public sectors of our modern day society that the world as we know it would more than likely come to a complete standstill without it. Therefore, successful budget justification is not outside the realm of possibility. In fact, the keys to creating a viable decision package during these tough economic times can be as simple as ABC.

1 - Be Aware Now is not the time to do anything on a whim. This opens the door to potential frivolous spending, and there is no room for that in this present economy. As a CIO, you have to exercise a heightened level of awareness on every level imaginable. Lack of awareness regarding anything that affects your business and its bottom line can lead to crucial errors in judgment regarding what may be needed at any given time.

Stay in tune with the current state of the company businesses like everything else are subject to change, and it is important that you keep yourself abreast of the current state of the company. Knowing the rate at which the company is growing or scaling down and shifts in the organizational goals and business priorities will aid you in making quality decisions as to what types of projects you should be implementing and what is needed in your budget to support them.

Stay in tune with the current state of technology staying abreast of current trends in technology be it sustaining, revolutionary or disruptive coupled with your knowledge of the present state of your business will allow you the upper hand in designing and implementing IT strategies that will enhance your company's overall performance.

Stay in tune with your CEO, CFO and Department Heads this present economy necessitates business managers and IT managers to work more closely together for the benefit of the company. Establishing and maintaining an open dialogue with those who work in upper management will allow you to stay abreast of the needs and shifts in the company at large, and you might secure an ally or two who will vouch for your

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