IT projects run over budget without financial controls

When any organization takes on new projects, determining a reasonable amount of money to allocate to improvements is one of the critical first steps to success. However, having a budget doesn’t matter if the financial controls aren’t in place to ensure it’s being adhered to. By using audit solutions, companies can stay in the loop about when to reassess their strategies.

According to PCWorld, a recent audit conducted by the state of North Carolina revealed that the local government is exceeding cost estimations in the implementation of 84 IT projects. On average, expenditures are more than double their expected amounts and projects ran 65 percent longer than planned.

It can be challenging for organizations to determine in advance how Online Pokies much some initiatives will cost, but it does benefit them to find solutions.

“The difficult part is uncovering the information that’s needed in order to make an accurate estimate,” IT analyst Michael Krigsman told the source. “That’s where you get a rat’s nest.”

WRAL-TV reported that new state IT head Chris Estes agreed that the problems, including the lack of systems to verify estimates or consequences for late-running projects, need to be rectified, and he plans to do so.

In this case, the use of audit solutions could ultimately lead to recovery of funds, since administrators are now aware of the issues. If leaders don’t see where financial management is falling short, they can’t fix the situation.

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