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PO5.3 - IT Budgeting

This topic is intended to enable collaboration and sharing of information to facilitate a better understanding and approach to implementing this COBIT control objective based on the risk, value and guidance provided by its corresponding control practices.

COBIT Control Objective PO5.3 - IT Budgeting is contained within Process Popup Manage the IT Investment

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IT Budgeting

Establish and implement practices to prepare a budget reflecting the priorities established by the enterprise’s portfolio of IT-enabled investment programmes, and including the ongoing costs of operating and maintaining the current infrastructure. The practices should support development of an overall IT budget as well as development of budgets for individual programmes, with specific emphasis on the IT components of those programmes. The practices should allow for ongoing review, refinement and approval of the overall budget and the budgets for individual programmes.

View value and Risk Drivers  help

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Value Drivers

  • An effective decision-making process for budget forecasting and allocation
  • Formally defined spectrum of funding options for IT operations
  • Identified and classified IT costs
  • Clear accountability for spending
  Risk Drivers
  • Resource conflicts
  • Inappropriate allocation of financial resources of IT operations
  • Financial resources not aligned with the organisation’s goals
  • Lack of empowerment, leading to loss of agility
  • Lack of senior management support for the IT budget

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  1. Implement a methodology to establish, change and approve a formal IT budget, including all expected IT costs of IT-enabled investment programmes, IT services and IT assets as directed by the strategy, programmes and portfolios.
  2. When creating the budget, consider the following components:
    • Authorised sources of funding
    • Internal resource costs, including people, information assets and accommodations
    • Third-party costs, including outsourcing contracts, consultants and service providers
    • Capital and operational expenses
    • Cost elements that depend on the workload
  3. Document the rationale to justify contingencies and regularly review them.
  4. Monitor the effectiveness of the different aspects of budgeting (project cost allocation, service cost allocation and budget variance analysis), and use the results to implement improvements to ensure that future budgets are more accurate, reliable and cost-effective.
  5. Instruct process, service and programme owners as well as project and asset managers to plan budgets.
  6. Review the budget plans, make decisions about budget allocations, and compile and communicate the overall IT budget.

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