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In response to the global recession, many companies have trimmed IT budgets, reduced IT staff, and reevaluated IT investments in order to maintain profitability. This research program shows, however, that companies' fundamental commitment to IT as a source of business value remains intact. We found that companies are optimizing scarce resources and preparing for the eventual economic recovery by directing investment to IT projects that will yield swift, tangible, and measurable results. Finance and IT executives, we found, are working together closely to identify such projects. By doing so, they're setting the stage for renewed collaboration and better-informed IT investment decisions in the months and years to come.