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The Chief Information Officer, also known as a CIO, is the executive officer in charge of information processing in an organization. All systems design, development, and data center operations fall under the responsibility of a CIO. The CIO is responsible for explaining the complexity of the infrastructure to management and why systems need to be retrofitted or replaced.
Increasingly, CIOs are involved in creating profit centers for the business by using new or emerging technologies. By collaborating with other executives, CIOs often work closely with business development for the organization.
Fractional CIOs can differ from traditional CIOs in that they serve as a contractor member of an organization’s executive management team and may or may not serve on the organization’s board.
A Fractional CIO, also known as a part-time CIO, is an experienced, multi-faceted professional who serves as the CIO for a small to medium-sized business that can not afford or doesn’t need a full-time executive to hold the position. A virtual CIO or vCIO may have a similar role. Still, the term virtual suggests that the individual is not present in the organization on the same basis as an employed executive. During times of interruption of the absence of a CIO, companies retain a virtual CIO for a limited period, often to oversee a specific project. As with traditional CIOs, a fractional CIO often helps with technology roadmaps, business process improvements, and business technology strategy.
The key benefit of contracting with a Fractional CIO is that they provide the same expertise and capability as a full-time CIO without the associated overhead and benefits associated with adding another top-level executive.
Fractional CIOs typically serve several companies and may or may not engage in managing a company’s IT staff or other resources.
The CIO Assessment Report covers the 12 Areas of the responsibilities of a Fractional CIO.
- Business-aligned IT Strategy
- An Information Security Planning
- Project Portfolio Management Strategy
- Disaster Preparedness
- Cloud Readiness
- Data Governance
- Application Rationalization
- IT Asset Management
- Cybersecurity Awareness Training
- Vendor Management
- Annual Recap with Senior Management
These are the critical areas of a CIO’s responsibilities.
The CIO Assessment Report can take 1 to 2 days for fact-finding on-site, depending on the company’s size. Then the report is put together and analyzed in about 2 to 3 weeks.