IT strategy (information technology strategy)

IT strategy (information technology strategy) is a comprehensive plan that outlines how technology should be used to meet IT and business goals. An IT strategy is a written document that details the multiple factors that affect the organization’s investment in and use of technology. Ideally, this strategy should support and shape an organization’s overall business strategy.

IT strategies should cover all facets of technology management, including cost management, human capital management, hardware and software management, vendor management and risk management.

Executing an IT strategy requires strong IT leadership; the chief information officer (CIO) and chief technology officer (CTO) need to work closely with business, budget and legal departments and other lines of business and user groups to achieve its success.

Organizations formalize their IT strategy in a written document or balanced scorecard strategy map. The plan and its documentation should be flexible enough to change in response to new organizational circumstances, market and industry conditions, business priorities and objectives, budgetary constraints, available skill sets and core competencies, technology advances, and user need.

IT strategies are also called technology strategies or an IT technology strategic plan. IT strategies should also be designed to be agile. For example, IT strategies for some organizations had to change in 2020 due to the pandemic.