1 Commonwealth ITIM Standard Managing Technology Investments to Provide Value to Citizens in Virginia Presenter Presenter’s Title Group/Event Name Date 1 Commonwealth IT Investment Management (ITIM) Standard

2 Commonwealth ITIM Standard  The Commonwealth must be innovative in the way in which it invests in IT. Commonwealth goal of continuous improvement  The Commonwealth must find ways to meet increasing demands through cost savings and increased productivity. “Expand constituent impact through lower operation costs”  Investment management can contribute to lower operating costs and the generation of internal capital. “We must pursue more aggressive, transparent goals” Governor Tim Kaine Why is ITIM important for the Commonwealth?

3 Commonwealth ITIM Standard How does ITIM support Commonwealth business? Maximizes business value Allows the Commonwealth to select IT investments that align with business goals and objectives Examples: Business Need IT Strategy Your business drives Commonwealth IT investments Reducing long customer wait times Web-based customer service applications Obtaining quick access to medical data High performance networks and databases Preparing for hurricane evacuations New wireless radios and centralized computers Identifying vehicle license platesHigh speed laptops in State Police cars Reducing the time to process tax paperwork Web-based software solutions

4 Commonwealth ITIM Standard What can ITIM do for my agency? ITIM is a proven business investment methodology that will help you: Align investments to business goals and objectives Identify and track spending on IT investments Control and monitor IT investment projects Confirm that IT investments are meeting business objectives Leverage IT investment opportunities that may generate internal capital Make informed decisions on an IT investment portfolio by assessing value and risk

5 Commonwealth ITIM Standard What is the ITIM Standard? The ITIM Standard documents the current Commonwealth IT investment governance process, for better stakeholder understanding, that allows the ITIB and CIO to meet Code-directed responsibilities in collaboration with business leaders The ITIM Standard utilizes best practices that are commonly used in both the public and private sector, around the world

6 Commonwealth ITIM Standard Pre-Select Business Plans & Needs Commonwealth Technology Portfolio Commonwealth Strategic Planning Process Investment Results Are the selected IT investments performing as planned? What proposed IT investments potentially solve business needs? Did the selected IT investments deliver the expected business value? Which IT investments best meet the business needs? ITIM answers key investment questions for business leaders Select Control Evaluate

7 Commonwealth ITIM Standard What benefits have we already seen? There have been no failed major projects in past 5 years Projects are completing and meeting performance goals The Commonwealth has significantly lowered project failure risks and improved decision-making capabilities IT investments are aligned with business strategy The Commonwealth has a systematic approach for managing portfolio risk and controlling investment activities The Commonwealth has identified new opportunities such as shared services

8 Commonwealth ITIM Standard Fleet Equipment Management Information System (FEMIS) VDOT had a business need to track and manage fleet equipment –Documented need for IT investment in the Agency Strategic Plan and Commonwealth Technology Portfolio –Business need aligned with the goals and objectives from the Council on Virginia’s Future A Commonwealth ITIM success story - VDOT

9 Commonwealth ITIM Standard A Commonwealth ITIM success story – VDOT (continued) Commonwealth CIO reviewed the Investment Business Case in the portfolio and saw a potential for multi-agency solution VDOT worked with the CIO to establish a shared service that will benefit multiple agencies –Commonwealth contract is now in place for all agencies –Shared service will reduce Commonwealth costs to set up future independent contracts Enterprise investment opportunity and resulting shared-service would not have been identified without following ITIM best practices Fleet Equipment Management Information System (FEMIS)