Five CIOs talk about managing IT costs in a weakened economy

Because of the current economic slowdown, which many expect to last through 2009, CIOs are faced with some hard choices when it comes to investing in IT. And they're cutting or delaying projects and not investing in new technologies that aren't increasing revenues, creating business or boosting operational efficiencies.

ITworld asked five CIOs in various industries to discuss how they're planning to weather the softening economy and balance the needs of the business with shrinking IT dollars; what three projects they're currently doing or plan to do over the next year; and what projects have fallen off their lists completely because of the economy.

John Halamka, CIO at Boston-based CareGroup Healthcare System, CIO and Dean for Technology at Harvard Medical School, and a practicing emergency physician.

2009 will be a challenging capital year. We will have enough to keep the trains running on time, to ensure our disaster recovery efforts continue, and to remain compliant with all our regulatory requirements. We're limiting major capital purchases, extending timelines, and focusing on the highest priority projects and we will refine and improve what we have. Eventually, the economy will improve and we want to be in the best position when that occurs. I believe that economic challenges are good for IT organizations because it forces customers to prioritize their projects, matching their demands to limited IT resource supplies.

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