8 FINANCIAL MANAGEMENT FOR IT SERVICES

INTRODUCTION AND SCOPE

No business can survive for long, let alone flourish, if it fails to manage its money effectively. Like any other business, the IT service provider, whether run as a commercial business or not, needs sound financial management. It must ensure it has the right amount of money available to put its plans into action, to make sure that it understands how its money has been used, to determine if the money has been used effectively or whether a proposed new investment is sound. It needs to understand what individual services cost to deliver and how these costs should be divided among the service users, so that, among other things, it can assess the impact of changes in demand and levy ...

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