Strategic Planning for Information Technology
Strategic Planning for Information Technology
Executive Summary Strategic planning for information technology is one component of an overall company vision for success. This analysis enables IT professionals to successfully define short and long-term goals and discover the resources necessary to realize such goals. To ensure success, the strategic plan should be developed in a thorough but rapid manner, consist of a brief, succinct compilation of analyzed data, and provide opportunities by which additional planning and analysis can occur. Several important benefits occur as the result of a successful strategic IT plan. First, employees are provided with an understanding of how their role fits in with the overall company structure. Also, this planning allows managers to realize additional opportunities for growth and success. Finally, important relationships between technology investment and positive outcomes, such as increased market share, are revealed. In spite of these benefits, shortcomings of strategic planning do exist, involving the difficulties in implementing a new technology in a timely manner before other newer technologies reach the market place, the lack of qualitative information contained in the plan, and the sometimes overlooked component of human creativity. However, strategic planning remains an integral factor in any company's success and the lack of a strategy can result in hidden costs such as decreased revenue potential. A number of tools exist to facilitate strategic planning, including a Return on Investment (ROI) Analysis. This tool allows managers to assess the value of an investment over time, taking into consideration factors such as the strategic objectives of the analysis itself, measurement of costs and returns, the ways in which the analysis fits into overall business process and external environment, and political and organizational risk factors. Strategic Planning for IT Strategic planning
Executive Summary Strategic planning for information technology is one component of an overall company vision for success. This analysis enables IT professionals to successfully define short and long-term goals and discover the resources necessary to realize such goals. To ensure success, the strategic plan should be developed in a thorough but rapid manner, consist of a brief, succinct compilation of analyzed data, and provide opportunities by which additional planning and analysis can occur. Several important benefits occur as the result of a successful strategic IT plan. First, employees are provided with an understanding of how their role fits in with the overall company structure. Also, this planning allows managers to realize additional opportunities for growth and success. Finally, important relationships between technology investment and positive outcomes, such as increased market share, are revealed. In spite of these benefits, shortcomings of strategic planning do exist, involving the difficulties in implementing a new technology in a timely manner before other newer technologies reach the market place, the lack of qualitative information contained in the plan, and the sometimes overlooked component of human creativity. However, strategic planning remains an integral factor in any company's success and the lack of a strategy can result in hidden costs such as decreased revenue potential. A number of tools exist to facilitate strategic planning, including a Return on Investment (ROI) Analysis. This tool allows managers to assess the value of an investment over time, taking into consideration factors such as the strategic objectives of the analysis itself, measurement of costs and returns, the ways in which the analysis fits into overall business process and external environment, and political and organizational risk factors. Strategic Planning for IT Strategic planning
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