AL IGN I T INVESTMENTS WI TH THE NEW REAL I TY
This economic downturn should be met with a frank review of corporate and IT strategies. You can’t wait until the normal strategy review cycle in early 2021. Review your current strategies and determine new priorities as the economic downturn has changed everything. Is it a priority to protect your people? Look across the entire portfolio of investments in projects and business administration units with this new lens. If protecting people is a priority, then look at investments (preferably in the pipeline rather than ones with sunk costs) that do not require a lot of capital and move those up in priority. If it’s not a priority to protect your people, look for areas where you can reduce SLAs, eliminate or buy services that are rarely consumed or not a priority, or shift investments from people-intensive projects. Are there products or services the business was planning to offer that aren’t as important in the current economy? Are there products or services the business was planning to offer that are more important in the current economy? Look across the portfolio of investments and reprioritize to maximize ROI and align IT investment with the new reality for the business.
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