Earlier, I discussed how IT can be used to improve your portfolio’s return profile. Todays, I would like to speak about how to put a Governance Structure for your endowments IT investment. Such a governance structure will define business goals, process to involve IT, define success parameters upfront and track progress and usefulness periodically.
Once you make your mind that you want to consider to invest in IT initiatives giving you edge over your competitors. Next question is how to put Governance Structure for your IT investment?
This question represents different needs for different stakeholders within endowments. Everybody (CE0, CIO, COO, CTO, Technology leaders) want a Governance Structure to meet their own objectives and goals. Challenge is everybody’s roles are different and hence their individual needs from this Governance Structure are vastly different.
I am CEO of Endowment /Foundation / Family offices –
I want to know how to align my strategic goals with my IT initiatives?
I want to know how to track that my Strategic goals will met in a timely manner?
I am CIO or COO of Endowment /Foundation / Family office –
How to get my business case for IT investments approved by board and CEO?
Is my IT department giving me expected business value for our IT investments?
Can I track my IT investments?
Can I track how are my IT initiatives performing as it relates to our Strategic goals of the organization?
How to manage changes in IT investments mid-stream due to changing business priorities?
How to get my IT department respond quicker to my changing business needs?
I am CTO or Technology leader for Endowment /Foundation / Family office?
- How to meet changing business needs in a timely fashion?
- How to ensure my architecture will meet business goals for foreseeable future?
- How to meet increase IT quality by automation?
- How to ensure information security is embedded in all work done?
- How to track IT initiatives completion and realization of business value periodically?
In subsequent posts, we will dig deeper in to the various aspects of Governance Structure for each role in Endowment – CEO, CIO, COO, CTO and Technology leaders. We will discuss a optimal governance structure that meets individual needs of all roles in a Endowment / Foundation or family offices. Additionally, we will ensure such a governance structure defines strategic business goals, process to involve IT, define success parameters upfront and track progress & usefulness periodically.