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Seven Tips for Developing IT Value Metrics

By Lafe Low

May 15, 2002 — CIO — Rolling out an IT valuation methodology across an enterprise or even within an IT department is a major undertaking (see "How to Use the Balanced Scorecard," Page 93). Laying the groundwork, determining the right metrics and the right amount of metrics, and getting the staff involved are all critical to a project’s success. This checklist, based on a recent Giga Information Group report, outlines considerations to keep in mind when implementing a valuation methodology.

• Adapt the methodology to the company’s processes and deliverables. Position workflow or process changes inherent to the methodology as an evolution of current processes, rather than something completely new.
• Decide who will be accountable for achieving the goals of each individual metric. Most likely candidate: the business unit manager most closely tied to it.
• Specify which measurement (for example, cost savings, sales figures or customer statistics) is being used as a metric, as well as the process for review and analysis.
• Conduct an ongoing review of all metrics, interpreting results and identifying opportunities for improvement.
• Make sure that business and IT managers responsible for defining, deploying and monitoring metrics are equally comfortable with business and technical issues.
• Provide the business and IT managers with adequate time and resources to develop and track metrics.
• Make metrics that are related to IT projects adaptable to changes in projects’ operational focus.

 

 

 

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