article thumbnail

What Is an IT Budget? IT Budgeting Basics (Template Included)

ProjectManager.com

Managing information costs and managing information security for those costs are part of making an IT budget. First, we need to understand what an IT budget is, how often they’re made and what is the best size for one. What Is an IT Budget? An IT budget consists of all the IT spending for an organization over one year.

Budget 338
article thumbnail

Capital Projects: Capital Planning, Budgeting and Funding

ProjectManager.com

These capital projects can be infrastructure-based, such as roads and railways, when launched by the government. Capital planning is the process of budgeting for resources that will be used in the future to fulfill long-term plans. What Is Capital Budgeting? What Is Capital Planning? What Is Capital Funding?

Budget 339
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Public Infrastructure: Project Management as a Key Success Factor

Inloox

Lack of risk management. Even though this project not quite reaches the epic financial miscalculation of Berlin’s BER airport, it again shows the difficulties realizing public infrastructure projects within their tightly constraint project plan. Budget and time planning. External influences. Intentional miscalculation.

article thumbnail

Setting up IT infrastructure for a Small Business

Binfire

The IT infrastructure of a company plays a crucial role. Considerations for building a strong IT environment Every aspect of your business infrastructure is important. Before you set up an IT infrastructure, consider the essentials and priorities required. Your budget. You also need routers, switches, and cables.

article thumbnail

IT Financial Management (ITFM) Best Practices

ProjectManager.com

To accomplish this requires financial governance, creating and controlling an IT budget, tracking expenses and doing cost-benefit analysis of IT investments. This includes IT operations management, IT service management, IT asset management and IT risk management. The IT infrastructure should support the operations of the business.

article thumbnail

Risks in the project: an overview

Inloox

Know the risks in your project! Risk management plays an enormously important role in project management. The task here is to identify, analyze, control and ultimately minimize risks. Although some risks can be eliminated with a suitable solution strategy, certain risks can never be completely avoided in the project context.

Risk 172
article thumbnail

IT Service Management (ITSM): Frameworks, Processes & Phases

ProjectManager.com

Information technology (IT) involves the use of computers, digital storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange electronic data. It also monitors activities on the organization’s network and IT infrastructure, which can detect breaches of company policy.

Process 325