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support. And remember to showcase your team’s achievements and successes and
celebrate them with the company.

Final Thoughts
Striking the right balance between running the business and growing and transforming
the business isn’t easy. Digital investments and innovation cost money, and no one has
an unlimited budget. It is your job as the CIO or CDO to work with other groups across
the business to determine where the emphasis for your team should lie and to make
smart decisions on which projects to invest in.

By understanding the business strategy and priorities, categorizing and optimizing your
spending, adopting a value-based approach to investment decisions, fostering a culture
of innovation and experimentation in the IT/digital organization, and communicating and
collaborating with the rest of the firm for any new initiatives, you will succeed. You will
deliver both efficiency and effectiveness in your portfolio, aligning your projects and
initiatives with the business’s goals and values, and provide transformational ideas and
investment over time.

https://techitupme.com/5-steps-to-balancing-it-cost-containment/