Budget Processes
Develop processes to manage budget planning and expenditure (such as processes to manage stakeholder involvement, processes to align the budget planning with business planning cycles, processes to manage payments, and so on).
Improvement Planning
Practices-Outcomes-Metrics (POM)
Representative POMs are described for Budget Processes at each level of maturity.
- 1Initial
- Practice
- Rely on the best endeavours of assigned personnel.
- 2Basic
- Practice
- Define a budget creating process.
- Outcome
- The budget creation process is available and can be applied in IT.
- Metric
- % of Stakeholders involved in process definition.
- 3Intermediate
- Practice
- Engage with some stakeholders from other parts of the business in the IT budget process.
- Outcome
- The budget process is improved due to external stakeholder input.
- Metric
- % of budget categories engaging with external stakeholders.
- 4Advanced
- Practice
- Involve all stakeholders in IT budget planning and align the cycle with business planning cycles.
- Outcome
- The budget process includes broad IT engagement, and input from the rest of the business.
- Metric
- % of budget categories implementing a budget process in alignment with business planning cycles.
- 5Optimized
- Practice
- Continually refine the budget management process in response to feedback.
- Outcome
- Senior stakeholders can rely on the budget management process to jointly manage the budget as part of the normal business planning process.
- Metric
- % of stakeholders satisfied with the budget management process