Information Technology (IT) Investment Management Best Practices
Best practices and lessons learned through initiatives that used the Outcome Management or cost-benefit analysis techniques to demonstrate their value.
This report documents the lessons learnt through initiatives that used the Outcome Management or cost-benefit analysis techniques to demonstrate their value. It also documents a series of related best practices for effective Outcome Management (or equivalent).
Outcome Management is the set of activities for planning, managing, and realizing the desired outcomes from initiatives. An outcome is the consequence of an intentional change imposed on people, processes, and technology. Outcome Management builds on management fundamentals such as cost-benefit analysis, but is designed to address their limitations by providing a process for precise identification and qualification of both hard and soft benefits.
Outcome Management complements and extends the cost-benefit analysis and results in a more robust and comprehensive understanding of the outcomes expected by the initiative.
These lessons highlight strengths and weaknesses of using an Outcome Management approach.
The key conclusion of the report is that Outcome Management has significant value in the planning stages of an initiative, as demonstrated by the lessons learned detailed in this report. However, there needs to be follow-up in the latter stages of those initiatives in the measuring and monitoring and benefits harvesting stages to demonstrate the full value of Outcome Management.
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In this series, we will discuss IT Value - from its definition to a framework to measure and track it
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An excellent tool to manage IT investments. Good read! Last week, we lay the foundation for a discussion on IT Value. This week, we look at specific areas where IT creates value. Last week, we focused on revenues. This week, we look at the costs in the IT value equation.
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Posted on 04/26/2010 by