One of the top coaching agendas for large enterprise #CIOs is to inspire and positively influence the Board to approve large-scale technology budgets, like #digitaltransformation
As perceived by CIOs, fear of change and the risk of uncertain returns were the top reasons for the Board for their concern.
We asked them how they can prepare board members to minimize fear of change and feeling of uncertainty when considering technology budgets. And the list is tall and growing.
1. Communicate clearly: CIOs should clearly and concisely communicate the technology needs of the organization and how proposed investments align with the overall strategic goals of the organization.
2. Provide a strong business case: CIOs should develop a strong business case for proposed technology investments, highlighting the potential benefits and how they will support the organization's goals and objectives.
3. Emphasize the importance of technology: CIOs should educate board members on the importance of technology in driving business growth and competitiveness
4. Build trust: CIOs should work to build trust and a positive relationship with board members by being transparent, responsive, and accountable.
5. Address concerns: CIOs should anticipate and address any concerns board members may have about proposed technology investments, such as potential risks and costs.
6. Provide examples of success: CIOs can provide examples of similar technology investments that have been successful in other organizations, and how it could be beneficial for the current organization.
7. Show the ROI: CIOs should show how the proposed technology investments will provide a return on investment, and how the ROI will be measured
8. Involve board members in the process: CIOs should involve board members in the technology decision-making process, such as providing regular updates and seeking their input and feedback.
9. Provide training and education: CIOs can provide training and education to board members on the latest technology trends, and the potential benefits they could bring to the organization.
Pointers 2, 8 & 9 are my personal favorite.
What are yours?