Project Portfolio Management, IT Financial Management Blog

IT Financial Management – But what about National Debt Financial Management?

Here we go again.  

 

At least in the U.S., the politics of our national budget and what has become an all-too-common crisis du jour.  It’s probably the number one political shouting match here in the US.  (We’ve gone beyond civil debate, discussion, or what normal adults do to communicate with each other; now, it’s all about who can shout the loudest)

 

“CUT ALL ENTITLEMENTS”                      NO                               “RAISE TAXES ON THE WEALTHY”

 

And so it goes back and forth, and nothing seems to get done.  Wait.  

 

You’re not reading Politico.com, (are you?) No, our focus is on how you lead, manage and deliver excellent IT services and projects. 

 

Budget challenges are not isolated to the government, but they are ubiquitous and common to all business divisions, especially IT.   But, you can’t magically raise a debt ceiling and print more money and most IT departments don’t have the option to temporarily furlough employees (at least not if you want to keep them). You’ve got to make your numbers, or find some other occupation.

 

Do you have the tools, information and insight you need?   Up until now, your primary weapon has probably been a spreadsheet, probably a mega spreadsheet with 5, 10 or 20 tabs.  You see, we’ve built an IT Financial Management (ITFM) solution called HP Financial Planning and Analysis to help you seize the day and take control of the ubiquitous budget struggles that almost all IT organizations face.

 

With HP ITFM, you are able to assemble the disparate data from a variety of systems, Asset information from Asset Manager, Project and Time data from PPM – giving you a complete picture of your operational andFPA 1.0.png strategic spending.  ITFM helps you visualize how your budget is performing and where you need to take action.  Essentially, ITFM can be your GPS to navigate the financial challenges of running a modern, complex IT environment.   Without the capabilities of ITFM, your financial information is typically out of date and often inaccurate.  It would be fair to say that you’re flying blind, or at least without modern instruments. Don’t have HP Asset Manager or PPM? Don’t worry, we can take data directly from that mega-spreadsheet you’ve been working on. 

 

So, what do you do when you need to raise your debt ceiling?

 

If you’re interested in HP ITFM, you can follow us at the HP ITFM/ PPM Blog  or even follow us @HPPPM on Twitter

Labels: FPA| ITFM| PPM

With PPM – you have the tools to plan to succeed – Customer Forum Wrap Up

I hope you had a great time at the PPM, Asset Management, ITFM and Executive Scorecard Customer Forum (that sure was a snappy title) in New York.  As you know, it was a full house, with lots of great interaction and insight.  The host, BNY Mellon created a fantastic environment for our two days together.  Customers shared their experiences, successes and challenges with each other and HP and key industry thought leaders.   It was a fabulous event and we’re glad you were there.   If you happened to miss it, then don’t worry.   We’ve got you covered.    Just join us next month in the city of lights – Paris France, where we’re going to facilitate the same great interaction and sharing.   Set your calendars May 12-13th, book your flights and get registered for what is shaping up to be a fantastic event.

 

The HP PPM Video Production Studio was busy developing a few short videos that help tell the story how APM, PPM, ITFM and Executive Scorecard help leaders like you become more empowered, efficient and effective.   We’ll be posting those cool videos shortly, perhaps we’ll even have a contest to see which one is most popular. 

 

I want to make sure that if you missed our excellent customer forum in New York, you know that we’ll be doing it again in Paris.   Hope to see you there.

 

If you’re interested in HP PPM, you can follow us at the HP PPM Blog  or even follow us @HPPPM on Twitter

HP Sponsorship: IT Financial Management Conference


By Richard Hawes, Sr. Product MarketingManager, IT Financial Management, HP


The IT Financial Management Association (ITFMA) provides a comprehensive education program on the principles and practices used to financially manage IT organizations.


The ITFMA is running a conference at the historic Jefferson Hotel in Richmond Virginia June 21-25 in Richmond Virginia. HP is a major sponsor. This is a real practitioner's event and the conference and optional pre-conference workshops will cover principles and practices used by IT financial management for planning, controlling, pricing, evaluating and decision making purposes. There are multiple, focused conferences housed in one event and attendees can move freely between them on the days they are registered.


Come along and hear the latest from HP as well as from leading practitioners on a wide range of topics.


Visit the ITFMA website at http://www.itfma.com for more details or to download a conference brochure. For details on HP's participation, contact me.



 




 


 

Get HP Discount at Gartner PPM & IT Governance Summit!

By Susan O'Connor


HP Software & Solutions is pleased to announce its participation in the upcoming Gartner PPM & IT Governance Summit, taking place June 7-9, 2010 in Orlando, Florida.  We hope you'll consider attending.


Register with priority code PPMHP10 and save $300 off the standard rate.


Attend and meet HP experts:



  • Talk with our experts 1:1 about your challenges and goals

  • Visit the HP booth:

    • See how IT financial management and PPM give you visibility and control at our demo stations

    • Discuss effect strategies to drive consistency, compliance and cost savings with our experts




You will also be able to hear an HP customer discuss their implementation, including benefits achieved and lessons learned.


Register today!

IT Financial Management: Getting the information you need today

By Bruce Randall, Senior Manager, HP Products


 


Recently I attended the Financial Planning and Forecasting Summit in San Diego and presented HP's vision for IT Financial Management to Chief Financial Officers (CFO), Controllers and Directors of Finance attending the show. Here are a few observations about the attendees:


1. Only one CIO or IT leader was present in the room out of roughly 100 in total


2. Only one participant operated IT as a business today (Profit/loss), and this attendee was employed by an IT outsourcing business


3. About half of the participants said IT reported to the CFO/Finance


4. Only one-third stated that IT budgets would increase this year, while the majority of the remainder said IT budgets would remain flat


5. I was met with agreement among much of the audience when I stated that demand on IT will continue to increase at a substantial rate regardless of budgets remaining flat


6. According to a recent survey, 40 percent of an organization's capital spending goes to IT - most attendees in the room found that figure to be too low.


7. The only person in the room who was confident that their IT department was capable of providing accurate budget plans uses HP Project and Portfolio Management Center to achieve this goal.


My presentation addressed why IT Financial Management is needed as a discipline and how today's corporate financial systems fall short in meeting the unique requirements of IT. I discussed how IT Asset Management and Project Portfolio Management solutions can address IT Finance requirements. Because these solutions support the entire IT process lifecycle for managing portfolios, programs, projects and assets, they capture right level of granularity needed for strategic and tactical decision-making.


Enterprise Management Associates, an industry analyst firm, authored the white paper "Taming the Elephant: Achieving Financial Management for IT and it provides many of the details my presentation covered. To learn more about HP's specific solution for IT Financial Management, go here.

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About the Author(s)
  • Brian is a Product Marketing Manager for Application Development Management Solutions with and previously for Project and Application Portfolio Management, with extensive experience in presales and implementation roles.
  • This account is for guest bloggers. The blog post will identify the blogger.
  • The voice of HP PPM. Keep up with us for all things Project and Portfolio Management.
  • I help IT leaders to understand how well IT is performing from a business perspective.
  • Evangelist for IT Financial Management (ITFM), IT Governance and IT Portfolio Management, consulting IT organisations for Close to 15 years on principles of good governance.
  • WW Sr Product Marketing Manager for HP ITPS VP of Apps & HP Load Runner
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