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This Week: Tackling the Budgeting Problem

If there’s one thing we’re sure of, it’s that building a budget and sticking to it is not an easy feat. There are plenty of conundrums that can happen between putting dollar amounts to tasks and accounting for what’s unknown.

This week on the CBT Nuggets blog, we addressed what you need to consider if you’re building a budget for your team and what you probably should consider if you’re working with money that’s budgeted out to you by a higher-up.

How to Win Your IT Budget Battle
Developing a budget and sticking to it is one of the most challenging aspects of being a decision-maker. If your budget is too low, your service suffers, making it difficult for your team to be productive. Too high and it gets rejected by executives. These tactics will help make the process smoother and keep everyone on your team happy.

Do Budgets Drive or Deter Innovation?
Organizing a budget is a balancing act. There are plenty of ways to spend money. Unfortunately, you can’t do it all. A good budget makes clear (and funds) your strategic goals for the next year without sacrificing operations. You have to make decisions based on organizational priorities.

How to Deal with the Added Costs of Success in IT
Every manager wants their team (and company) to be successful. After all, no one sets out to fail, but every company stumbles along the way. Projects can go awry. Products fall flat. These are normal and educational. Interestingly, success can be just as detrimental — especially sudden, stratospheric growth.

Manage Your Team Like You Manage Your Money
Employee value is often measured in salary. Human value, however, is not an easy measurement to enumerate. People are more than their salaries, and provide more value to their team and company than usually meets the eye. Here’s how good managers measure their employees’ value.

Emphasize Learning for Long-Term Employment
When it comes to attracting top-level talent, you need to consider salary, benefits, and perks. However, when it comes to keeping top-level talent around, you’ve got to carve out ways for them to keep their skills current, learn about their interests specifically, and excel further than they could have when you first hired them on.

 

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