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Budget Management

In addition to tracking costs versus budgets and reporting variances, this process aims to manage and reconcile incurred costs with cost recovery, plus provide out-year estimates and modeling for new bud

Tasks

Skills

Maintain budget, actual versus planned

Define and enforce processes for budget compliance

Enforce spending limits based on policies/standards

Detailed understanding of full IT inventory and related processes

Basic financial/budgeting skills

Cost accounting knowledge

Familiarity with technology metrics and trends

Understanding of corporate budget process/rules

Staffing

Automation Technology

Budget specialist

Accountant

Financial analyst

Financial systems for budget planning

Cost accounting systems

Forecasting systems

Best Practices

Metrics

Use of automated systems that track actual and budgeted monies

Semi-annual budget iterations

Actual versus planned costs

Group costs/budget value

Quantity of resources/cost

Process Integration

Futures

No Items

Automated system to tract budgets and actual costs

Linkage with forecast systems

Automatic budget planning based on forecast

"What if" modeling for various technology business alternatives


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