By Tony Murphy
Total this publication introduces a framework of IT funding with exact definitions, sound functional advices, powerful concentrate on worth dimension of IT. i feel it's a strong reference for IT Strategic Consultant.The framework is so referred to as 3P: 5 Pillars, technique, humans. The 5 Pillars are Strategic alignment, enterprise approach influence, structure, Direct Payback, possibility. Weighting and scoring strategy is seriously used on the making plans and research degree whereas quantitative dimension of every of the 5 Pillars is intensely emphasised by way of the writer.
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These, and other financially related concepts, are reviewed in more detail in Appendix A. ■ WHAT ELSE DO WE NEED? We’ve covered a lot of ground in this chapter, but hopefully the main objective has been achieved, namely, convincing you that financially based measurement, while playing a vital role in What Else Do We Need? ➤ 37 evaluating IT investment, nonetheless represents only one role in the overall process of successfully investing and extracting benefits. What are the others? Our framework recommends that you assess potential investments through five perspectives (including the financial one), or as we prefer to call them, the Five Pillars of Benefits Realization.
This factor was one of the most significant in slowing the move toward more advanced evaluation techniques. We now discuss the limitations of purely financially based techniques and the consequent impact on gaining value from IT. ■ THE LIMITATIONS OF FINANCIAL METRICS While IT is a strategic resource and alignment between IT and the business is essential, most executives continue to place enormous emphasis on financial metrics. For this reason, relegating such measures to their appropriate place in the IT investment evaluation framework assumes high importance.
All decisions should fuse together with significant implications for projects, funding streams, business priorities, budgeting, workforce preparation, risk management, and downstream costs. As business decisions and technology decisions intertwine, the roster of interested stakeholders lengthens beyond IS and business executives. Now functional department heads, user communities, external customers, and externally sourced workers all have insight into, and influence over, the IT components in a growing number of business decisions.