iBudget was developed at a total cost of $8,753,900, with an operating start up cost of $200,000, and an annual operating cost of $ 1,500,000 and an annual non-cash cost of $2,169,474. This is fully borne by MOF on the basis that iBudget will facilitate the annual budget preparation.
To substantiate the need for the project, an extensive and rigorous evaluation process was conducted. The benefits derived from having the iBudget were carefully weighed against feasibility and cost. The project was also aligned with the strategic thrust of ‘Enhancing Capability and Synergy in Government’ in the Singapore iGov 2010 Master plan.
The development, implementation and maintenance of the system requires expertise in many domains such as SAP Business Objects on the technical side and familiarity with budgeting processes and data structure (eg Chart of Accounts) on the requirements side. The number of staffs involved in the development, implementation and maintenance of the system included project sponsors, user project managers and coordinators, module owners IT team and vendors. In MOF alone, more than 25 staff were involved in the development of iBudget.