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Inside the Industry: Secure Funding Despite Lean Times
From TechServe Alliance’s IT Services Update (Summer 2009)

It’s never easy to get the green light for a new tech project and today's economic environment has made justifying an IT initiative even more challenging. To win support and budget for new projects you need to focus on the issues most important to senior management: increasing/creating revenue and reducing business costs.

Executive committees are extremely aware of both the risks and the opportunities of innovation and smart technology usage. By clearly demonstrating the revenue and/or cost-saving benefits of your initiative, you greatly increase your chances of gaining support. Here are tips for building a smart business case:

• The main resource any new project needs is money, and it's one that your peers are trying to obtain as well. Know what other projects—tech or non-tech—decision makers have on the table.
• Know your competition (often colleagues in the organization). Knowing what they do well and their history of delivering on promises can go a long way in promoting your project.
• Consider pooling projects and combining forces with others competing for limited resources.
• Negotiate. Do your competitors or the decision makers want something that you are willing to trade away? Watch for opportunities and make smart deals.