The IT Optimization Service Team (IT OST) Cost-Based Financial Taxonomy workstream is a strategic initiative aimed at enhancing financial transparency, optimizing IT expenditures, and strengthening decision-making at Penn State University. This project seeks to establish a cost-based financial taxonomy that systematically categorizes IT spending, aligning it with business objectives and enabling data-informed decision-making. Outcomes will include:

  • Understanding of the value of an IT Financial Taxonomy
  • Review of the current state assessment
  • IT Financial Taxonomy framework development
  • Implementation plan across use cases
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