It’s Time to Prepare for a Return to Business Growth
Ken McGee, Mark Raskino
Many countries are reporting ever-increasing levels of unemployment, rising home mortgage payment delinquencies, and business bankruptcies, while also reporting huge reductions in consumer confidence, business earnings, and overall economic performance. What should clients do? Ignore the negative financial press coverage and prepare for a return to business growth, regardless of when the growth actually returns.
• Most clients have already contributed to one or more waves of enterprise cost cutting since October 2008.
• There are modest indications that the ongoing deterioration of overall economic performance is slowing.
• Although extremely cautious in their forecasts, many economists predict that marginal growth will occur in 2010.
• Finalize and disseminate the methodology by which: (1) existing projects; (2) approved projects that haven’t yet begun; (3) projects placed on hold during the recession; and (4) any new projects will be prioritized, sequenced, funded and staffed when business growth returns.
• Gain executive approval to: (1) include more complete financial information; and (2) require actual business unit manager signatures for every new IT project, regardless of size or expense.
• Complete your “Prepare for a Return to Business Growth” strategy no later than 1 July 2009.