Budget Monitoring
Monitor and report to stakeholders on actual performance against planned expenditure.
Improvement Planning
Practices-Outcomes-Metrics (POM)
Representative POMs are described for Budget Monitoring at each level of maturity.
- 1Initial
- Practice
- Rely on the best endeavours of assigned personnel.
- 2Basic
- Practice
- Define a basic monitoring process for some budget categories.
- Outcome
- A basic monitoring process can be applied to capture actual spend compared to budget, for some budget categories.
- Metric
- % of budget categories with actual spend captured and reported.
- 3Intermediate
- Practice
- Monitor and systematically report any IT budget variances to both the IT & Finance functions.
- Outcome
- Monitoring processes allow budget variances to be seen and highlighted to the IT and Finance functions.
- Metric
- % of budget categories with actual spend captured and reported.
- 4Advanced
- Practice
- Monitor and systematically report on IT budget variances to all stakeholders.
- Outcome
- Embedded processes ensure IT budget performance is proactively monitored and reported.
- Metric
- % of budget categories with actual spend captured and reported.
- 5Optimized
- Practice
- Actively manage monitoring of the IT budget to provide business value.
- Outcome
- Regular monitoring of the IT budget performance by the organization and active management by IT, provides budget headroom for investment in innovation.
- Metric
- % of budget categories with variances actively managed and reported on.