Managing IT When Times Get Tough

Macroeconomic conditions, whether they are downturns or boom times, broadly shape the CIO's job, but the firm's own context drives action. The reality is that any business at any time may need to shift its executive focus toward running lean — whether due to possible recessions or just normal competitive pressures combined with investor expectations. The CIO must know how to maximize business value during these times as well as during periods of growth. The keys are to work in concert with the CFO as well as other executive team members, provide sufficient emphasis on improving the business's overall cost profile, and ensure risks from cost deferrals are understood.