An effective IT budget will outline how your IT will deliver value to the business. This IT budget checklist will guide you in creating an IT budget that prioritises, manages and allocates resources effectively and in line with the needs of your business.
Assessment and planning
- Evaluate current IT infrastructure and identify areas for improvement.
- Define short-term and long-term business goals that IT can support.
- Conduct a technology needs assessment.
- Establish a realistic budget timeline.
Hardware
- List all existing hardware.
- Plan for hardware upgrades or replacements.
- Research and estimate costs for new hardware if needed (computers, servers, networking equipment, etc.).
- Consider maintenance and warranty costs.
Software
- Inventory current software licenses.
- Identify software upgrades or updates needed.
- Research and estimate costs for new software.
- Consider subscription-based services (cloud-based software).
- Account for software maintenance and support fees.
Network infrastructure
- Assess the current state of your network.
- Plan for network upgrades or expansions.
- Consider costs for security measures (firewalls, antivirus software).
- Include costs for internet services and data plans.
Data management and storage
- Evaluate data storage needs.
- Plan for data backup and recovery solutions.
- Consider cloud storage options.
- Estimate costs for data management tools.
Cybersecurity
- Assess current cybersecurity measures.
- Budget for cybersecurity software and tools.
- Include costs for employee cybersecurity training.
- Plan for regular security audits.
IT Personnel
- Account for salaries, benefits, and training for IT staff.
- Consider outsourcing IT services if necessary.
- Plan for temporary or freelance IT support.
Training and development
- Budget for ongoing training for employees on new technologies.
- Allocate funds for certifications and workshops.
Telecommunications
- Include costs for business phone systems.
- Budget for video conferencing tools.
- Consider mobile device expenses.
Contingency and emergency planning
- Set aside a portion of the budget for unexpected IT expenses.
- Develop a plan for dealing with cybersecurity incidents or system failures.
Regulatory compliance
- Account for costs related to compliance with industry regulations.
- Budget for necessary audits and assessments.
Monitoring and analytics
- Allocate funds for IT monitoring tools.
- Consider analytics tools for performance evaluation.
Communication and collaboration tools
- Budget for communication tools (email, messaging, collaboration platforms).
- Consider cloud-based solutions for collaboration.
End-User support
- Plan for helpdesk and end-user support services.
- Budget for customer support tools.
Review and adjust
- Regularly review and adjust the IT budget based on changing business needs.
- Seek feedback from IT staff to identify areas for improvement.
An IT budget checklist will help you create an IT budget that is aligned to your business strategy and priority is given to IT projects that will have the greatest impact on efficiency and productivity. If you would like advice on creating an IT strategy and budget please contact us for a free, no obligation, IT consultation.