Financial Management for IT Services: (Leads to the ISEB Practitioner Certificate in IT Service Management exam)

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Course Overview

This three day course leads to the ISEB examination and qualification ISEB Practitioner Certificate in IT Service Management: Specialising in Financial Management for IT Services. The course is designed for IT professionals with at least one years experience of commercial and financial planning and processes in an IT services environment. The course is a very practical learning experience with a number of exercises and scenarios built in.

The IT Financial Management qualification will be attained through passing the ISEB set in course assignment in addition to passing the ISEB set multiple choice one hour exam paper which is scheduled for the last afternoon of the course. Examination results will be forwarded directly, from the ISEB, to the student within six weeks of attending the course.

Holders of the ISEB Practitioner Certificate in IT Service Management: specialising in Financial Management for IT Services will be able to demonstrate their competence in, and their ability to:

• Explain the purpose and objectives of Financial Management for IT Services and the benefits it will bring to an organisation
• Plan for the implementation of Financial Management for IT Services and provide solutions for the typical problems that will be encountered
• Define and agree cost types
• Prepare and maintain a cost model
• Understand the importance of good investment appraisal
• Negotiate and agree Charging Policies with the Customer and the IT providers
• Implement and manage the process for Service Billing
• Prepare Finance reports for distribution throughout the IT organisation.
• Analyse reports and statistics to determine identify and propose ways to improve cost efficiency across IT Services
• Evaluate and review the FMITS processes
• Understand the interdependencies between Financial Management for IT Services and other areas, including those outside of IT and Service Management processes.

Examinations

The course will consist of formal lecturing, group discussions, in course assignments, and a practice examination paper. The "live" examination is in two parts.

The Practitioner examination consists of two parts.

The examination is a one hour closed-book multiple-choice paper preceded by 15 minutes reading time consisting of 25 questions . The questions will be based on a Case Study and a set of discipline specific appendices to the Case Study. The Case Study will be the same across all disciplines and and used by candidates in completion of their in-course assignment. The examination will be invigilated by an ISEB invigilator. The examination accounts for 50% of the overall assessment for the Certificate. The remaining 50% of the marks are gained from an in-course assignment.

To qualify for the certificate, candidates are required to achieve 50% in each of the multiple choice paper and in-course assignment, with an overall combined total of 65%.

Prerequisites

• Can demonstrate one years experience of commercial and financial planning and processes in an IT services environment
• Hold the Foundation Certificate in IT Service Management

Course Outline

Planning -

• The planning and implementation of the Financial Management for IT Services process
• Understand the planning activities involved in implementation of Financial Management for IT Services
• Understand the potential costs, benefits and problems associated with the implementation of FMITS
• Specify the terms of reference and scope for the implementation project and ongoing processes
• Understand the objectives of FMITS and the importance of gaining senior management sponsorship for FMITS
• Understand the skills and resource requirements needed to develop and maintain FMITS processes
• Understand how FMITS will interface with and support the Business Accounting processes and how the FMITS processes at customer/service/location level map onto the total IT Services finance planning

II: Budgeting -

• The process of ensuring that the correct finance is available for the provision of IT Services and that during the budget period they are not over spent.
• Describe the budgetary and accounting cycle
• Identify budgetary items and estimate their cost
• Understand that budgets are applicable to income and expenditure
• Construct a budget for IT Services
• Monitor, review and report on performance against budget

III: IT Accounting-

• The provision of detailed information on where, and why, expenditure is incurred within IT Services
• Create a cost model by customer, by service, by location
• Understand the difficulties inherent in establishing accurate cost models and suggest resolutions
• Identify and document cost types
• Identify and classify cost elements
• Perform an Investment Appraisal

IV: Charging -

• The recovery of the costs of IT Services in a simple, fair and affordable way
• Document and explain a variety of Charging Policies
• Understand the benefits, and constraints, of differential charging
• Construct a suitable structure and format for Service Billing
• Understand the difficulties inherent in establishing charging and suggest resolutions
• Identify the pre-requisites for the introduction of charging
• Discuss with customers the cost/benefit analysis of services provided and demonstrate value for money

V: Review the Financial Management for IT Services Process -

• Ensure the overall FMITS process is effective and responsive to changing requirements
• Recognise where amendments may be necessary to existing budgets, cost models and charges
• Understand the process for introducing new services and incorporating into existing budgets, cost models and charges
• Review the FMITS processes
• Understand and report on the Key Performance Indicators (KPIs) of FMITS
• Identify areas of weakness and instigate resolution and proactive improvements

VI: Reporting -

• The preparation of FMITS reports for distribution throughout the organisation as appropriate.
• Identify the FMITS related reports required throughout the organisation
• Produce regular and ad-hoc FMITS reports and circulate these as required
• Analyse reports and statistics to identify and propose ways to improve cost efficiency across IT Services

VII: Interfaces and Dependencies -

• The appreciation and understanding of the interfaces and dependencies Financial Management for IT Services has.
• Identify and understand the interfaces that FMITS has outside of IT and Service Management processes
• Identify and understand the interfaces that FMITS has with other IT and Service Management processes
• Define and document the dependencies of other Service Management processes on FMITS processes and information
• Define and document the dependencies of FMITS on other Service Management processes and information
• Implement procedures that facilitate the interfacing and dependence of FMITS with all other IT and Service Management processes.

Follow On Courses

Students wishing to gain the Manager's certificate in IT Service Management should attend the

• ITIM-SS Service Support (5 days)
• ITIM-SD Service Delivery (5 days)
• ITIM-ME Mock Examination (1 day)
• ITIM-REV Review Day (1 day)

Financial Management for IT Services: (Leads to the ISEB Practitioner Certificate in IT Service Management exam) / ITIM-PFM-HEY