IT budgeting and cost management
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
IT budgeting and cost management
IT budgeting and cost management refer to the process of planning, allocating, and managing the financial resources needed to support an organization’s technology needs. This includes both capital expenditures, such as the cost of hardware and software, as well as operational expenses, such as the cost of maintaining and supporting technology systems.
IT budgeting and cost management is a critical aspect of overall financial management, as technology plays an increasingly important role in the success of organizations. By effectively managing IT costs, organizations can ensure that they are getting the most value out of their technology investments.
IT budgeting typically begins with the development of an IT strategic plan, which outlines the organization’s overall technology goals and objectives. From there, the IT budget is developed, which includes both capital and operational expenses. The budget is then reviewed and approved by senior management and the organization’s board of directors.
Once the budget is approved, it is then up to the IT department to manage costs within the approved budget. This requires ongoing monitoring and tracking of IT expenses, as well as taking steps to control costs where possible.
One way to control costs is through the implementation of cost-saving measures, such as:
- Outsourcing: Outsourcing IT services to a third-party provider can be more cost-effective than maintaining an in-house IT department.
- Cloud computing: Using cloud-based services can be more cost-effective than maintaining and supporting on-premises technology systems.
- Virtualization: Using virtualization technology can help to reduce the number of physical servers needed, which can lower costs associated with hardware, power, and cooling.
- Licensing: Negotiating better licensing deals with vendors and using open-source software can help to lower software costs.
Another way to control costs is through the use of IT cost management tools and techniques, such as:
- IT chargeback: This is a process where the costs of IT services are allocated to specific business units or departments, allowing them to see the costs associated with their use of technology.
- IT showback: This is a process where the costs of IT services are communicated to business units or departments, allowing them to see the costs associated with their use of technology, but without allocating the costs to them directly.
- IT benchmarking: This is the process of comparing an organization’s IT costs and performance to that of similar organizations, in order to identify areas where costs can be reduced.
In conclusion, IT budgeting and cost management refer to the process of planning, allocating, and managing the financial resources needed to support an organization’s technology needs. It is a critical aspect of overall financial management, as technology plays an increasingly important role in the success of organizations. IT budgeting typically begins with the development of an IT strategic plan and then the IT budget is developed and reviewed, and then the IT department manage costs within the approved budget. One way to control costs is through the implementation of cost-saving measures, such as outsourcing, cloud computing, virtualization, and licensing. Another way to control costs is through the use of IT cost management tools and techniques, such as IT chargeback, IT showback and IT benchmarking.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
|
|
GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
|
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!! |
|
|
IT budgeting and cost management
PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!