How to Create an Effective IT Strategy Using These 5 Steps
When I hear "IT strategy," I hear all types of things that organizations "think" is the way to move or best for organization. When I think strategy I see it as an comprehensive approach to leveraging current or new technology to drive business success, innovation, and resilience in a rapidly evolving digital landscape.
Step 1. Understand Business Goals and Objectives: Begin by gaining a deep understanding of the organization's business goals, objectives, and key performance indicators (KPIs). Identify how technology can support these objectives and drive business value.
Step 2. Assess Current State: Conduct a thorough assessment of the organization's current IT infrastructure, systems, processes, and capabilities. Identify strengths, weaknesses, opportunities, and threats (SWOT analysis) to inform the development of the IT strategy.
Step 3. Engage Stakeholders: Involve key stakeholders from across the organization, including business leaders, IT professionals, and end-users, in the strategy development process. Collaborate to gather insights, requirements, and feedback to ensure alignment with business needs. This is critical as some IT leaders have a HARD time doing this!
Step 4: Define Vision and Objectives: Develop a clear and concise vision statement that outlines the desired future state of IT within the organization. Define specific, measurable objectives and goals that the IT strategy aims to achieve, ensuring alignment with business priorities.
Step 5: Prioritize Initiatives: I find this to be the most challenging for organizations due to competing priorities. Start by identifying and prioritizing strategic initiatives and projects that will enable the organization to achieve its IT objectives. Consider factors such as business impact, resource requirements, technical feasibility, and strategic alignment.
Once you've done that hard work above you can begin to focus to the continued strategy or roadmap!
Bonus: Establish Governance and Metrics: Define governance structures, processes, and decision-making frameworks to oversee the execution of the IT strategy. Establish key performance indicators (KPIs) and metrics to measure progress, track performance, and evaluate the impact of IT initiatives.
Overall, I feel that an IT strategy encompasses a holistic approach to leveraging technology to drive business value, innovation, and growth. It requires careful planning, collaboration across departments, and a keen understanding of both technology and business objectives.
Michael Watkins, VP of Technology, Competitive Solutions, Inc.