TechTalk Detroit EP 28: IT Budgeting and Planning

How to Strategically Plan Your IT Budget

IT-Budgeting-IT-Planning-Podcast

IT Budgeting and Planning

What is the value of budgeting for IT expenses? (4:11)

The IT Budgeting Process  (05:18)

What are the advantages of creating an IT budget?:

  • Helps eliminate surprises pertaining to project expenses
  • Allows for you to create a roadmap with achievable goals
  • Gives you a clear overview of current and future IT projects

What is the Value of Prioritizing IT Projects (07:55)

How do you determine which IT projects take priority? (09:41)

How Far Ahead Should You be Budgeting? (10:45)

If you company has not yet had experience with IT budgeting, begin by budgeting for 1 year only.

How to Create an IT Roadmap (12:20)

  • Having a 3-5 year plan gives your business the ability to avoid unforeseen projects
  • Technology is constantly changing, therefore any planning beyond 5 years is not necessary
  • After creating a 3-5 year plan, your annual planning process will become quicker and more efficient (13:42)

Network Infrastructure 

Audit your network infrastructure, what needs to be updated? (16:30)

  • A network audit should take placed every 3-5 years

Vendors

Additionally, do not forget to review your vendors (17:02)

Warranties (19:05)

It is important to budget for server and network infrastructure warranty renewals.

 

 

Check out some of our past TechTalk Detroit episodes:

TechTalk Detroit EP 26: Employee Retention – How to Keep Employees Engaged and Satisfied Within the Field of Tech

TechTalk Detroit EP 25: How to Choose the Right Electronic Devices for Your Business 

TechTalk Detroit EP 24: What is Ransomware?