IT Economics - Getting Large IT Projects Funded

Achieving funding support for large technology projects is a major problem for many businesses. Typically the architectural design is first class, there is intuitive agreement that the concept makes sense - but the numbers are not robust enough, finance does not buy into it, hard linkage to business capabilities is sketchy and the board says no.

Pacific Strategy Partners has assisted a number of large banks and industrial corporations to achieve funding approval and improve the outcomes of large IT investments and we have summarised some key lessons from our experiences - how to get the business buy-in and the robust economics needed for approval.

• The distributed nature of technology in many large businesses which makes if difficult to identify the actual IT costs of individual applications. This is necessary in order to understand the ‘addressable' costs - those that will be impacted by the new platform
• The often opaque linkage between the capabilities that will be enabled by the new technology and the business levers that will generate the ultimate benefits to the business
• The often overlooked costs that will be incurred by the business to reconfigure products and processes in preparation for, and during, migration to the new technology
• The requirement to incorporate business and technology considerations and constraints into the development sequencing to ensure alignment with the business strategy
• The challenges in gaining appropriate management buy-in required to establish an endorsed position for presentation to the board
• Synthesizing the business case into an articulate and compelling story to facilitate board decision making

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