If You Have to Make Cuts, Maybe You Can Still Prevent Some Pain

In an economy like this, everyone's looking at ways to keep costs under control. John Halamka blogs about how he manages budgets (and finds places to cut) at Harvard's Beth Israel Deaconess Medical Center. His many suggestions are targeted toward IT departments, but the advice can certainly be applied to other fields as well.

Halamka recommends engaging the whole staff to "identify operational inefficiencies, redundancy, and savings opportunities." A bonus is that if the staff is involved, people will be less likely to speculate and fear for their jobs. Another example is extending project timelines. "Assuming that resources are diminished and scope is already reduced, the last lever a CIO has is to extend the timelines of new projects. Instead of delivering new software this year, delay it to next year," he writes.