• 80% of IT execs say they can still meet strategic goals despite constraints.
  • 82% say communication on IT spending with business units has improved.
  • 33% of large companies don't manage IT costs successfully.
  • 9% of IT spending in the past 3 years was unnecessary.

Times are tough: Between the recession and the hangover from the Y2K and dot-com spending frenzies, most CIOs are expected to manage IT costs much more tightly than they have in the recent past. And the majority of the 357 IT executives we surveyed for this month's research believe they're doing a good job. For the most part, that seems to be true: They've reduced both the number of projects over budget and the percentage of IT spending over budget since 2000, and they've done it without sacrificing their strategic goals. What does it take to do it well? Judging by the habits of successful IT cost managers, communication between business units and IT and strong decision- making processes are what make for success. Confident cost managers are also more disciplined: They're better at executing the cost management processes that work for them—most notably collaborating with their peers on the business side—and better at using technologies, especially project management software, that help in the process of managing costs.—By Gary A. Bolles

This article was originally published on 10-10-2002
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