Advent of technology has led a revolution in Business Models in every industry. Every business strategy is not linking itself to company’s Technology Strategy. Disruptive technologies have forced business to run dependent on technologies, mainly Information Technology. During last decade, Information is hidden currency, exchange and stealth of information has led to greater security and management constructs to protect and mature information assets. The strategy to use and grow information to benefit business needs is nothing but Information Technology.
IT (Information Technology) strategy is curiously changing from aligning to business to business aligning to it. IT initiatives supporting business needs is thing of the past now, business considers IT as the secret weapon to gain and maintain competitive advantage. Business is more savvy in IT than some IT veterans themselves, because you don’t need to be a pro to understand IT, you need to know the benefits of IT. IT strategy document describes the business’ ability to get biggest bang for the buck. The strategy can describe long term as well as short term needs from business, it can describe tactics to achieve those as well.
Anatomy of IT Strategic Plan1
- Time frame – 3-5 years, most focus on 18-24 months
- Medium – Document or presentation
- Length – 10-15 pages
- Executive Summary – Targeted to business audience
- Scope – Goals, plans and objectives
- Business Context – business drivers, assumptions that informed IT Strategy.
- IT Principles – Govern IT
- Metrics – Abilities to measure progress towards the goals.
- Review – Plan to review.
IT strategy must be revised often than it used to be earlier. According to Moore’s law, every year the number of transistors in a dense integrated circuit doubles every year. 2. Although it’s broader scope, it describes how the decisions were made in past as well. That suggest the IT is ever changing and the speed of change should approximately double every year. Stagnant IT strategy is more harmful than not having one. Most important to have principles that guide you though the critical decision making, the IT strategy is guiding document that provides clear framework for making decisions for next timeframe.
- Overby S, 2008, Anatomy of IT Strategic Plan, available at http://www.cio.com/article/2437285/business-alignment/anatomy-of-an-it-strategic-plan.html
- Moore, G, 1965, Moore’s Law, See : https://en.wikipedia.org/wiki/Moore%27s_law