I.Predictable Annual ExpendituresSimply put, fixed operational expenditures keep the lights on$.$ They are mainly hardware and software maintenance items, licensing, etc.These are expected costs of doing IT business. If$,$ however, you are purchasing more hardware or software that will require additionalannual maintenance and license agreements, youll need to defend those purchases and the annual expenditures that will remain for thecompany.II$.$New PurchasesAny new purchases you recommend need to be justified. Why are you purchasing them? What benefit do you expect from the purchases?Youll need to justify the purchases relative to the previous competency assignmentsReynolds business situation and goals. Forexample, how will a new investment in hardware, software, or services achieve a competitive advantage for the company? What do youthink the company needs to purchase to achieve its expansion goals? How much will outsourcing cost?III.Special Projects and Long$-$term Strategic IT InvestmentsAs CIO, you need to look at technologies in the context of long$-$range strategic planning. Think of this section as your wish list. Theinvestments in this category may not help the organization achieve its short$-$range goals, but theyre considered a long$-$term investment ininnovation to remain competitive. For example, a manufacturing facility may consider artificial intelligence and robotics as a long$-$range