CIO Survey 2014 - CIO portfolio
Balancing business as usual and IT innovation
Just 16% of Irish CIOs report that they are investing in emerging technologies.
This year’s survey indicated that CIOs are prioritising delivery of IT services over growth, with just 16% of Irish CIOs reporting that they are investing in emerging technologies. In a positive development 60% of both international and Irish respondents say they evaluate project portfolios against measures such as risk versus reward and 9 out of 10 have clarity on their long and short term projects. There is room for improvement thought, with around a third not having the ability to evaluate the performance of their portfolio in terms of risk v reward.
Significant capability gaps may prevent innovation driven CIOs from managing and assessing their portfolios more effectively. In fact, a shortage of key talent is a recurring risk across all aspects of the CIOs role, potentially impacting across a range of activities.
Other key highlights include:
- CIOs at home and abroad are twice as likely to prioritise IT delivery over “transforming IT from a cost centre to a profit centre”
- Only 16% of Irish CIOs investing in emerging technologies
- A third of CIOs do not have the ability to actively evaluate the performance of their portfolio in terms of risk v reward
- Just 1 in 5 CIOs globally and 1 in 6 in Ireland, possess the operational capability to invest in emerging technologies or prioritise transforming their organisations from a cost to a profit centre
Download our full report to see how Irish CIOs compare internationally, and get the Deloitte perspective and specialist advice.
- Recruit entrepreneurs: IT functions with a focus on innovation should look to recruit entrepreneurial talent. Internal business units, including marketing and digital functions often contain rich veins of talent and CIOs should further tap into this resource
- Monetise IT developed for internal use: It may be a natural progression to sell IT systems developed for internal use to customers of the organisation
- Change what you measure and how you measure it: The success of a portfolio designed to deliver business growth through technology innovation, is measured differently to a portfolio designed to deliver IT services aligned to business strategy. Metrics such as revenue growth, opening margin improvement and shareholder value are useful benchmarks in this context
IT budgets and priorities: renewed focus on growth but innovation still lacks funding
CIO relationships: internal and external stakeholders critical for CIO success
CIO pulse: CIO's role in creating a culture of innovation and examining personal style
Hot topic - analytics: who owns this critical area and how businesses are benefiting