STEMMONS IT Life cycle Budgeting


IT Life cycle Budgeting

To maintain top-tier equipment, stay within warranty boundaries, and ensure IT equipment is working it is important to analyze equipment lifespan.  Yearly budget projections become much easier when a consolidated and insightful report on equipment that will need to be replaced is delivered to the decision-maker. Central manages the life cycle budgeting process by annually creating and assigning cases for equipment to be inspected and a budget created accordingly. By maintaining an updated budget, better financial decisions can be made in order to save he company money.

User Experience:

  • CAST creates a case annually for analysts to inspect equipment and create IT life cycle budgets
  • Case is assigned to analyst to inspect equipment
  • Instructions on how to inspect equipment are documented in Standards
  • Quest form is used to inspect equipment and score is reported on to estimate remaining life of equipment
  • If a repair is necessary a case is generated from Quest form
  • Case is assigned to business analyst to create life cycle budget
  • Instructions are provided for process to create budget
  • Analyst analyzes various reports in order to create the annual budget for the IT Equipment

Functional Setup:

  • CAST must be configured in order to create annual budget case 
  • Equipment inspection case along with budget creation case types must be created
  • Quest form must be created along with equipment repair case type must be created
  • Instructions for inspecting equipment along with process and suggestions to create budget must be created and documented in Standards
  • Reports for the inspection scores along with repair cost, equipment cost, and other financial reports must be created in order to be analyzed for budget creation

Best Practices:

  • Business analysts should consult past yearly budgets in order to compare results and adjust for new budget
  • Ensure that CAST jobs are spread out throughout the year in order to avoid an overload of budget cases assigned at once
  • By approving purchases for equipment listed in the Equipment Lifecycle report the decision maker makes one approval and the IT Procurement rep can proceed with their tasks with minimal supervision.

Leave a Reply

Your email address will not be published. Required fields are marked *