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.
- 2Basic
- Practice
- Define an IT budget creation process.
- Outcome
- A budget creation process is available to support budgeting activities and can be applied in the IT function.
- Metric
- % of stakeholders involved in budget process definition.
- 3Intermediate
- Practice
- Ensure the IT budget process is consistently followed by all stakeholders across the IT function.
- Outcome
- Use of the budget process is mandated within the IT function, leading to greater consistency in IT budgeting practices.
- Metric
- % of budget categories adhering to the budget process.
- 4Advanced
- Practice
- Execute the IT budget process in full alignment with other business planning cycles, and involve key stakeholders across the organization.
- Outcome
- The budget process includes broad IT engagement and input from the rest of the business, and is aligned with other key business planning cycles.
- Metrics
- % of budget categories adhering to the budget process.
- Alignment of the IT budget process with business planning cycles.
- 5Optimized
- Practice
- Continually refine the budget management process in response to lessons learned.
- Outcomes
- The budget process reflects insights from past experiences and industry good practice.
- Senior stakeholders can effectively manage the budget as part of the normal business planning process.
- Metrics
- % of budget categories adhering to the budget process.
- Alignment of the IT budget process with business planning cycles.
- % of stakeholders satisfied with the budget process.