Finance is constantly under pressure to better manage costs. But hasty cost decisions can jeopardize long-term objectives for success and growth.
Gartner recommends using a decision frameworks to identify key cost optimization initiatives to implement over time.
- Assess the level of impact across key decision factors/criteria (e.g., financial impact, risk).
- Evaluate the trade-offs between the benefits, costs, risk and viability of different cost optimization initiatives.
- Map cost optimization initiatives on a simple grid to show the trade-offs and help build buy-in.