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8 Cards in this Set

  • Front
  • Back
What is the key phrase for Financial Management?
Cost-effective stewardship of IT assets.
What is the mission?
Cost-effective stewardship of IT assets to fully account for all expenditures.
What are the three parts of Financial Management?
Budgeting, accounting, charging
If we implement a charging policy it must be____?
Fair, equitable and consistent.
The three types of finance centers are?
1. Accounting or cost center
2. Recovery center
3. Profit center
What would we use to directly influence end user or customer behavior?
Charging policies
What is notational charging?
Notational charging implements full accounting practices without actually sending an invoice to the customer.
What are some of the key benefits for Financial Management?
• Provides the basis for all IT strategic directions.
• Determines the true costs of IT services.
• Produces accurate and credible reports.
• Communicates IT performance in terms of dollars rather than “bits and bytes”.
• Influences customer behavior.
• Measures the effectiveness and efficiency of IT operations and it’s progress toward improvement.
• Prioritizes actions and resource assignments