But I certainly get a lot of input from my IT people, says Joanne Yestramski, the college's vice president of business and finance. Even at organizations in which the finance department does all the math, it s important for IT managers to comprehend NPV and cost of capital. There s going to be a discussion anyway, and you will have to justify the project. IT managers are in a much better position if they know a project has already passed the hurdle based on its quantifiable benefits, Mendelson says. Partnering between IT and finance is critical, according to Ron Brezinski, principal at Wilmette, Ill.-based Transformation Associates.
Finance can help IT to either look good or look bad.
By speaking the same language as finance, IT managers show that they re playing on the same team, instead of sitting on the sidelines as outsiders. Computerworld Inc. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Computerworld Inc. is prohibited.