e-Book: The Complete Primer on Budgeting for Managers

How to use budgeting for strategic impact. Read On!

One of the most overlooked strategic tools is budgeting. Yes, the staid budget can provide sustainable competitive advantage to both the company and the IT Organization.

Budgets are a key governance mechanism as they are used to estimate and communicate expenditures over a period of time. They are one of the primary means of coordinating the allocation of resources and serve as a critical means of control. Companies and managers cannot live without one.

What would happen if one waters only some of the plants in one's house or water some more than others? Similarly, budgeting is used to provide the right amount of resources to each initiative. This is how critical a budget is to an organization.

On the one hand budgets are taken for granted with minimal creativity going into the process and on the other, all that does, goes into gaming the system. This leads to the wrong plant being watered more and a rare plant not getting enough to survive.

This problem is well known with many solutions proposed and implemented. Do you know which one to use? What is the best budgetary model for your organization?

We refer you to an excellent discussion on budgeting. CIOs will learn what budgeting is, the dysfunction in the budgeting process, its causes, and how to address them. This is critical to creating a strategic budget in collaboration with the CFO.

This e-book introduces budgets, discusses traditional approaches to budgeting, the dysfunctions in them, and potential solutions to address these.

This budgeting primer will help you understand:
- What is a budget and why is it critical to an organization?
- What is the history of budgeting?
- What are the traditional approaches to budgeting?
- What are the problems with traditional budgeting?
- What are some modern budgeting models that address these problems?
- How to evaluate and select a budgeting model?

CIOs must create a budget that provides the right resource to each initiative on their agenda. You must also collaborate with the CFO and their organization. Understanding budgeting is key to both these objectives. MUST Read!