By Michael Blackstaff FCA, MBCS (auth.)
Purpose the aim of this booklet is to give an explanation for to details know-how (IT) determination makers these features of finance that the majority impact their paintings. such a lot IT choice makers belong in a single of 2 different types. a few recognize much approximately IT, yet much less approximately finance; the others recognize much approximately finance, yet much less approximately IT. In my event, these within the first class frequently need to make monetary judgements. these within the moment additionally, after all, need to make monetary judgements, yet approximately issues whose features stretch the traditional monetary and accounting principles as much as, and occasionally past, their elastic restrict. one of the features of IT that supply attention-grabbing demanding situations for monetary everyone is the subsequent: • The accelerating expense of swap • the quick and unpredictable invaluable lifetime of IT resources • the aggregate of undefined, software program and providers • Upgradability • Networks that pass state barriers • IT jargon requested what features of finance supply fascinating demanding situations for IT humans, a lot of them might resolution - "Everything". in spite of the fact that, goods within the following choice are usually specific reasons of ask yourself: • Leasing • Why monetary versions regularly curb merits yet by no means charges • Being informed corporation with a mountain of revenue is ready to fail via loss of money • studying that their price range has been charged with £113 485.
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Extra resources for Finance for IT Decision Makers: A Practical Handbook for Buyers, Sellers and Managers
Sample text
When is a Benefit not a Benefit, and a Cost not a Cost? It is often quite difficult to decide what should go into a financial case and what should be left out. What should go into it are, surely, the benefits and costs attributable to that course of action, were it to be undertaken. In the example of the car project, we made a start with trying to establish which costs and benefits are "attributable" to a proposed investment and which are not. We covered the most fundamental of the principles, but we have to do more in order to complete the picture and to make it relevant in the context of IT decision making.
Their expected costs, in Years 1 to 3 respectively, would be (£000): 60 150 80 Project Team Costs 0> Estimated cost of time spent by the project team, none of whom is paid overtime: cost of time already spent . . . . . . . cost of expected future time 15 10 Storekeepers (k) Storekeepers each cost in Year 0 20 33 3. When is a Benefit not a Benefit! In Years 1 to 4 this will rise by 5% per annum (to the nearest £000). One storekeeper is due to retire at the end of Year 2. If the new system goes ahead he will not be needed beyond the end of Year 1, and it has been agreed that he would be prepared to retire one year early on payment of a lump sum of £15000 at the end of Year 1 in lieu of his Year 2 wages.
If the investment is decided upon, the advertisement will be withdrawn immediately, and the storekeeper transferred to the new job. Training Costs (I) Retraining and changeover costs (altin Year 1) will be ............ 50 Of this, 25 will be spent with external trainers. The rest of the work will be done by the company's own training department. Rent of IT Department Space (m) The rent of the IT department's space per annum is 120 This rent was fixed for 10 years one year ago with an external landlord.