Course Description:

This IT Cost Center Management course is designed to provide students with an introduction to the budgeting process. It specifically concentrates on the issues, responsibilities, and activities of cost center managers, i.e. those managers responsible for department expenses.

It is ideal for new managers who do not have a budgeting background, seasoned managers who have not had cost center responsibility, and/or anyone who does not have experience in corporate budgeting practices.

This class is a component of the IT Management and Leadership Professional Certification. (ITMLE^©)

Course Objectives:

Upon completion of the IT Cost Center Management course, students will be able to:

• Demonstrate a thorough understanding of budgeting strategy and techniques
• Work effectively with Finance and other departments to maximize resources
• Effectively manipulate various aspects of budgeting for positive outcomes
• Make informed decisions in good and not-so-good economic  environments 

Audience:

• IT professionals who wish to work toward a formal certification
• IT individual contributors with career goals in supervising/management/senior leadership
• IT team leads or soon-to-be team leads
• IT supervisors or soon-to-be supervisors
• Newer IT managers or soon-to-be managers
• Experienced IT managers desiring a reputation for superior “technical people” management skills and to build their “brand” 

Prerequisites:

• none

Duration:

 ½ day, full day and customized full-day formats available.

Course Topics:

      I.          Importance of Budgeting

a.    Importance to you, your company, your manager and your peers

b.    Your relationship with the Finance Department

    II.          Components of Your Budget

a.    Budget items when you have no control, some control and full control

b.    Current year expenses vs. capitalized expenses

c.    Tools used in the budgeting process

   III.          IT Funding and Allocations

a.    Cost allocations, charge backs, and project based funding

b.    Cost-center based, charge-back based, and profit-center based funding

  IV.          Budget Process

a.    Budget Timing

b.    Techniques for forecasting expenses for following years

c.    Budget vs. actual reporting throughout the year

d.    Initial budgets, approved budgets, revised forecasts, revised budgets, and reporting

   V.          Your IT Budget and …

a.    Cloud computing, increased video, mobile devices, remote working, and more

  VI.          Food For Thought

a.    Your manger says company revenues are down, do you offer to cut your budget?

b.      When building next year’s budget, how do you plan for unforeseen expenses?

c.       Six months into the year and you realize your budget won’t reach year end. What’s next?