10 ways to effectively estimate and control project costs

Building a better bottom line is just as important for an IT department as it is for the whole organization at the enterprise level. It involves an understanding of the main drivers of IT costs, aligning IT spending plans with overall business strategy, using financial resources efficiently, viewing IT expenditures as investments and having procedures to track their performance, and implementing sound processes for making IT investment decisions.

CIO Jeff Relkin examines the essential components of effective project cost planning and control, including:

• Controlling baseline costs
• Acknowledging hidden IT spending impacts
• Understanding IT cost estimation truths
• Using governance to drive IT investment decisions

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