Itrm Standard Cpm 516-02 Publication - Virginia Information Technologies Agency Page 8
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38Information Technology Investment Management Standard
ITRM Standard CPM 516-02
January 31, 2017
IT investments that are projects or procurements are classified as commonwealth IT
investments if the total cost is greater than or equal to $250,000. IT investments
less than $250,000 are classified as agency IT investments. In addition, the Code of
Virginia defines a “major” IT project as “any commonwealth information technology
project that has a total estimated cost of more than $1 million or that has been
designated a major information technology project by the CIO…” (§ 2.2-2006). For
the purpose of finance and budget reporting, commonwealth IT projects or
procurements whose cost is between $250,000 and $1 million are designated as
“non-major” IT projects or procurements. IT investments proposed or underway are
documented in the commonwealth or agency technology portfolio (see section 4.3)
The IT investment categories are summarized below.
IT Investment Categories
Existing Assets
•
o Infrastructure
o Applications
Enterprise
Collaborative
Agency specific
o Services
VITA or IT Partnership
Vendor
Projects, procurements, and VITA work/service requests
•
proposed or underway that will result in new assets
Commonwealth projects or procurements (>= $250K)
o
o Agency projects or procurements (< $250K)
Figure 1: IT Investment Categories
2.4 Commonwealth business needs
The business needs of agencies drive IT investments in the commonwealth.
To
identify those business needs, agencies draw from a number of sources.
The
Governor of Virginia and the Council on Virginia’s Future both set goals that provide
overarching guidance and direction on how commonwealth agencies will meet the
commonwealth's strategic objectives. These goals help focus the agencies on what
the citizens need. The commonwealth goals also form the foundation for both the
Commonwealth Strategic Plan for IT and the Agency Strategic Plans. Federal and
State mandates and laws will also drive commonwealth business needs. There are
also opportunities to provide citizen services that arise when grant funding is made
available to the agencies.
In addition, some agencies use Consumer Boards to
identify the needs of the citizens who use the agency's services. Together, all of
these drivers help commonwealth agencies identify and document business needs,
and invest in technology to meet those needs. Figure 2 illustrates the varied sources
of business needs.
Page 3
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