Gartner Research Report: How to Respond to Mandatory IT Budget Cuts
According to Gartner, "CIOs face constant pressure to reduce cost while maintaining or improving performance. This often comes in the form of a direct cost challenge, with a specific target and time frame."
In this report, Gartner discusses how CIOs can answer the call of a mandatory IT budget cut to successfully meet the challenge:
- "Define and clarify the scope of the cost cutting, and the question being asked. Follow a structured approach to answer the cost challenge."
- "Identify and evaluate actionable cost-saving opportunities by creating transparency in the cost base, providing multiple views of the IT budget, where possible."
- "Identify stakeholders and present them with an action plan, including a menu of actionable cost-saving options."
- "Show the business impact of each option by quantifying service degradation or business risk in the action plan. Ensure stakeholders sign up for any negative impacts."
This must-read report can help CIOs properly evaluate which costs to cut while maintaining business continuity and performance. Those who follow Gartner's recommended approach will position their organizations for success.
Reference: Gartner, Inc. “How to Respond to Mandatory IT Budget Cuts.” November 18, 2019, Bryan Hayes, Jim McGittigan.
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