IT Governance & Capital Planning: Key Insights
Critical role of IT governance in IT capital planning, focusing on capital planning, budget balancing, cost estimates, and project funding decisions. Learn why capital planning is essential for identifying valuable projects within budget constraints and ensuring alignment with agency priorities. Understand the importance of cost estimates in developing budget baselines and managing resources effectively.
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Presentation Transcript
CMS IT Governance Training IT Capital Planning vs Budget
What is Capital Planning? What is Capital Planning? Capital planning helps CMS identify which projects are the greatest value, what are the budgetary constraints, which projects to fund, and when and which projects to defer.
Critical Role of IT Governance Critical Role of IT Governance in IT Capital Planning in IT Capital Planning Governance Review Team SMEs: Technical Review Board, Infrastructure, Investment Management, Enterprise Architecture, Contracts, Security, Privacy, Data, Section 508, Contracts, Budget, Shared Services. Supports project teams in developing well- informed business and technical solutions.
Do we Need this Investment, and is this Do we Need this Investment, and is this the Investment we Need? the Investment we Need? Valid Business need? Supports the agency's priorities? Conflicts or overlaps with other projects? Only technically and financially sound initiatives are selected for funding.
Why are Cost Estimates Important? Why are Cost Estimates Important? Cost estimates are critical to the decision making process. We use them to: Develop annual budget requests Evaluate resource requirements at key decision points Develop budget baselines
Capital Planning & Budget Balancing Act Capital Planning & Budget Balancing Act Cost estimates support the budget spending plan. Ensure that the rate of spending closely mirrors available resources and funding. If project scope or assumptions change, the baselines may need to change which will require Capital Planning approval.
Key Take Aways Key Take Aways IT Capital Planning and Budget are not the same, but they are interdependent. We need to provide project cost estimates to develop CMS long term capital plan. Changes to project baselines due to increased scope will require approval from Capital Planning as well as available funds.
Contact Us Contact Us For questions about IT Governance or more information email: IT_Governance@cms.hhs.gov or visit: IT Governance (https://www.cms.gov/TLC)
