Data Consistency
Develop the sources of data, and structure the data required to conduct budget performance analyses. Develop a common budget management terminology in the organization to enable wider comparisons to be made.
Improvement Planning
Practices-Outcomes-Metrics (POM)
Representative POMs are described for Data Consistency at each level of maturity.
- 1Initial
- Practice
- Rely on the best endeavours of available personnel.
- 2Basic
- Practice
- Calculate IT budget performance using multiple disparate databases with unstructured data.
- Outcome
- Various databases with unstructured data must be compiled when tracking and reporting.
- Metrics
- # of databases providing “data of record”.
- % of data fields duplicated in more than one database.
- Practice
- Use common budget management terminology within the IT function.
- Outcome
- There is a common understanding of budget management terminology across employees in the IT function, facilitating data consistency.
- Metric
- % of employees understanding the common terminology within IT.
- 3Intermediate
- Practice
- Use multiple databases/sources with structured data for IT budget analysis.
- Outcome
- Multiple databases/sources with structured data are available leading to a more accurate assessment of budget performance.
- Metrics
- # of databases providing “data of record”.
- % of data fields duplicated in more than one database.
- Practice
- Adopt a common budget management terminology between the IT function and other business units.
- Outcome
- Common budget management terminology facilitates comparing like with like.
- Metrics
- # of databases providing “data of record”.
- % of data fields duplicated in more than one database.
- 4Advanced
- Practice
- Use a single unified database for IT budget performance analysis data.
- Outcome
- All IT budget performance data can be accessed in a single database.
- Metric
- Existence of a single unified database for IT budget performance analysis data
- Practice
- Consistently use and refine a common budget management terminology between the IT function and the rest of the business.
- Outcome
- There is common understanding of the terminology between IT and the rest of the business, facilitating communication.
- Metric
- Existence of a common understanding of budget management terminology between IT and the rest of the business.
- 5Optimized
- Practice
- Continually improve through benchmarking the single database, with real-time budget performance analysis information.
- Outcome
- The analysis process is further improved to provide real-time data which is always available.
- Metric
- Existence of benchmarks of real-time budget performance analysis.
- Practice
- Develop the common budget management terminology between IT and the rest of the business for use to compare the 'business value' performance of budgets.
- Outcome
- Benchmarking ensures that there is a focus on the business value derived from budget oversight.
- Metric
- Existence of ‘business value’ comparison of budgets performances.