The Six Winning Secrets of Project Funding

If the CFO won’t approve a company-wide upgrade, how about a pilot in the Dayton, Ohio office, or for the marketing team? Proceeding in incremental steps often is the way to go in 2008’s uncertain economy.

4. Go in with a firm, fixed price from outside IT vendors. Yes, many are reluctant to offer that degree of specificity but, said Shane Aubel, partner in Accent Global System Architects, an IT consulting firm based in Silver Spring, MD, CFOs will clap their hands in delight when presented with a project that has fixed costs going in. “CFOs are nervous about financial risks. Fixed pricing removes risk.”

5. Figure out who the project will directly benefit and get their support. “That will give you a real shot at winning funding,” advises Rothman. Go into the CFO with support from, say, sales or any department that has already agreed it sees the benefits it will get from the proposed IT program and you are almost at the finish line before you get started.

CFOs can easily diss IT, but they tend to listen attentively to business units. Gain an ally and this fight is so much easier to win.

6. The last step? Once a project is green lighted by the CFO, on a regular basis report back to him with information that shows progress and concrete benefits, urges Rothman.

“So much IT seems to fall into a black hole as far as CFOs can tell,” urges Rothman.”Make the benefits of this project clear to the CFO and it will pave your way for funding for the next project.”