IT Financial Management

Training & Certification for Professionals

IT Financial Management

August 23, 2018 IS & IT Training IT Information Technology Project Management 1

Information Technology (IT) has become the central nervous system of virtually every operation in an organisation. The rapidly changing business and technology environment confronts decision makers with the important challenge to justify the required investments, maintain the cost level at an acceptable level whilst not putting long-term IT capacity and agility at stake.
IT Financial Management is the discipline of ensuring that the IT infrastructure is obtained at the most effective price (which does not necessarily mean cheapest) and calculating the cost of providing IT services so that an organization can understand the costs of its IT services. These costs may then be recovered from the customer of the service.
Costs are divided into costing units: Equipment; Software; Organization (staff, overtime; accommodation; transfer costs (costs of 3rd party service providers)
These costs are divided into Direct and Indirect costs and may be Capital or Ongoing.
The practice of IT financial management enables the Service Manager to identify the amount being spent on security countermeasures in the provision of the IT services.
The amount being spent on these countermeasures needs to be balanced with the risks and the potential losses that the service could incur as identified during a business impact assessment and risk assessment.
Management of these costs will ultimately reflect on the cost of providing the IT services and potentially what is charged in the recovery of these costs.


Overall, the basic goal behind IT Financial Management is to offer a truly transparent analysis of what an organization is spending on IT resources. In many cases, this analysis of efficiency is used to create intelligent, metric-based cost-cutting strategies.
For an internal IT organization, the goal is described as:

  • To provide cost-effective stewardship of the IT assets and resources used in providing IT services
    For an outsourced IT organization or an IT organization which is run as if it were a separate entity (ie, with full charging) the goal may be described as:
  • To be able to account fully for the spend on IT services and to be able to attribute these costs to the services delivered to the organization’s customers and to assist management by providing detailed and costed business cases for proposed changes to IT services
  • The course enables delegates to understand how an IT Financial Management framework, based on best practice guidelines, can be adopted and adapted within their own organizations.
  • To provide proven practical guidance on how to successfully introduce an integrated IT Financial Management framework based on the best practice service lifecycle approach.
  • To prepare delegates for the ITIL Foundation Certificate in IT Financial Management examination

Target Audience

  • Managers involved and related in the IT operations
  • IT staff and executives involved in risk management and business process improvement
  • Information technology professionals involved in projects that are concerned, in part, with the automation of business processes
  • IT Managers and Practitioners involved in the strategy, design, and implementation and ongoing delivery of business-used IT services and who require an insight into IT Financial best practice.

Course Contents & Description

  1. IT Financial Management Overview
  2. Mission Statement
    Provide budgeting, accounting and charging services to control, manage and recover IT cost and spend.
  3. Process Goal
    Achieve the process mission by implementing:
    •ITIL-aligned IT Financial Management policies, processes and procedures
    •Dedicated Financial Management Process Owner
    •Effective IT budget and planning practices
    •Accurate and efficient IT charging and cost recovery for IT services
    •Accurate accounting of IT expenditures and revenues
    •Reporting on the state and health of IT costs and revenues on a regular basis
    •Periodic audits of IT financial information to ensure accuracy
  4. Critical Success Factors (CSFs)
    The Critical Success Factors (CSFs) are:Effective stewardship over IT finances
  5. Key Activities
    The key activities for this process are:
    •Perform budgeting for IT services and activities.
    •Perform IT accounting activities.
    •Perform IT charging and billing activities.
    •Provide management information about Financial Management quality and operations.
  6. Key Performance Indicators (KPIs)
    Examples of Key Process Performance Indicators (KPIs) are shown in the list below. Each one is mapped to a Critical Success Factor (CSF).
  7. Effective Stewardship Over IT Finances
    •Overall cost of delivery per customer
    •Percentage of IT costs not accounted for
    •Dollar value of budget variances/adjustments
    •Percentage of IT financial objectives met
    •IT Service Headcount

Related Topics

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