Michael ClarkManager of Corp IT PMO| EBSCO, Ind.Al, United States
I looking into determining the value of a project and a simplified process that I can provide to department managers. I find that we are getting too many project requests that have not true value to our organization once we begin to unpack them. I would love some examples to share so managers will not submit project requests for projects of little or no value. Saving Changes...
Sort By:
Stéphane ParentSelf Employed / Semi-retired| Leader MakerPrince Edward Island, Canada
Michael, the value should be earned where projects help organizational goals. You need to track your project against organizational-level (i.e., strategic) metrics to show the added value. Saving Changes...
Michael ClarkManager of Corp IT PMO| EBSCO, Ind.Al, United States
I understand. We are wasting time with departments that don't know how to calculate the value of the project based on the benefit to them, i.e. how much they will save or how much the implementation will increase revenue. I need a simple whitepaper that I can leverage to give them the means to determine the value effectively prior to making their request. Saving Changes...
(Total new revenue -total cost)/total cost x 100 =ROI%
that would help in sorting project with most ROI.
The problem would likely be how to evaluate new revenue! Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
You can search for MoV and MoP. The first thing is to understand is what value means for your company. After that, usually you will find that to define value is a strategic matters. Second, you have to understand that the project will not deliver direct value to the company (non monetary ni other type of value). What will deliver value is the product/service/result the project will create.That is a critical item to understand. Once again, the project will not deliver any direct value. The company will start the project to create something (a solution) to the problem to put strategy into action.
...
1 reply by Michael Clark
Jan 25, 2017 3:45 PM
Michael Clark
...
I appreciate your response. I was hoping to find a document that someone had created that I could use as reference. I'm under time and resource constraints and didn't want to re-create the wheel.
Saving Changes...
Michael ClarkManager of Corp IT PMO| EBSCO, Ind.Al, United States
Jan 25, 2017 3:03 PM
Replying to Sergio Luis Conte
...
You can search for MoV and MoP. The first thing is to understand is what value means for your company. After that, usually you will find that to define value is a strategic matters. Second, you have to understand that the project will not deliver direct value to the company (non monetary ni other type of value). What will deliver value is the product/service/result the project will create.That is a critical item to understand. Once again, the project will not deliver any direct value. The company will start the project to create something (a solution) to the problem to put strategy into action.
I appreciate your response. I was hoping to find a document that someone had created that I could use as reference. I'm under time and resource constraints and didn't want to re-create the wheel. Saving Changes...
Michael:
The reality is you will have to create your own project prioritization model/template/process. Only you, your executive team, departmental managers and PMO can do this. Any example may show you what another org did based on their culture or business need. It's an iterative process; I've done it many times for many different organizations. Put in the time to understand what your managers want and try to define a simple process to start with and refine it over time. Example: http://www.pmoguru.com/project-prioritisat...itise-projects/
...
1 reply by Michael Clark
Jan 26, 2017 10:10 AM
Michael Clark
...
This is great. A worksheet that we can use to show them where there project request will fall during planning sessions. Thank you.
Saving Changes...
Michael ClarkManager of Corp IT PMO| EBSCO, Ind.Al, United States
Jan 25, 2017 7:52 PM
Replying to Naomi Caietti
...
Michael:
The reality is you will have to create your own project prioritization model/template/process. Only you, your executive team, departmental managers and PMO can do this. Any example may show you what another org did based on their culture or business need. It's an iterative process; I've done it many times for many different organizations. Put in the time to understand what your managers want and try to define a simple process to start with and refine it over time. Example: http://www.pmoguru.com/project-prioritisat...itise-projects/
This is great. A worksheet that we can use to show them where there project request will fall during planning sessions. Thank you. Saving Changes...
