Six tips for selling new IT projects

Securing funding for IT projects isn't as easy as it was a year ago. These days, tech execs seem to have one eye on expenses and the other on the company's stock price. But every business still has an IT budget, and the key to accessing those funds is pitching projects to senior management in language that they understand.

To ensure IT survival in a rough economy, IT managers have to learn to talk business. When the cash flows in, it's easy for techies to scorn suits who think C# is a musical note, but when budgets tighten, those same techies need to remember who pays the bills. The best way to sell new projects is by understanding what the executives want and how to give it to them.

Selling your IT projects to senior management is the first step to becoming a better salesperson. So grab a notebook, and take a memo on the business of selling technology. These six tips might just help you secure those necessary dollars for your next IT project.

1. Present IT projects in business terms.
   
   Executives love to hear b-school language, heavy on finance and economics (with a hint of marketing). Present new projects in terms of return on investment (ROI), efficiency, margins, and of course, profits. Demonstrate exactly how this new technology project will cut costs, bring in new customers, or otherwise fulfill business goals.

2. Pitch projects in terms of existing priorities.
   
   If the new IT project can demonstrate value to specific business units, chances of approval are greater. If multiple business units are involved, the financial burden might be spread across several departments. Another strategy is to relate new IT projects to existing technologies, thereby creating the perception that the project maximizes the value of technologies that have already been implemented.

3. Be prepared.
   
   The key to selling projects is effective communication. If that means practicing presentations the night before, so be it. Supporting your argument with visual materials such as charts, graphs, or slides can also help your case. Finally, anticipating the management's questions can demonstrate that you've thought through the whole process and are prepared to take on this new project.

4. Make your goals clear.
   
   Don't try to accomplish too much in one session. Any secret yearnings for new tech staff or a raise will have to be put on hold. When selling an IT project, concentrate on the goal of securing funding for that project. Chances of success are much greater when all aspects of the presentation target a single goal.

5. Demonstrate existing cost-saving measures.
   
   By demonstrating the value of and returns on existing IT projects, you affirm that IT is a revenue-generator rather than a cost-center, which can deepen management's commitment to new IT projects. A good way to demonstrate that value is by keeping detailed records and producing hard numbers that justify IT's worth.

6. Invoke the competition.
   
   If all else fails, you can try scaring executives into funding new IT projects. Researching the competition's technology and business can help justify immediate expenses, particularly if you are able to link new technologies with the company's competitive advantage.

   » posted by ITworld staff

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