At my job, we have endless discussions about whether or not new solutions will be worth their cost. These discussions seem to be particularly pertinent for IT solutions. How does one actually calculate the value of IT solutions, and what metrics should be used?
We have settled for the only financial metric for a business case that is actually used and understood by everyone, including our managers, namely cost of investment (COI). Why bother trying to figure out and then argue about possible return on investment (ROI)? It is difficult to do. Add to this that trying to calculate the intangible positive effects such as happier employees can be very difficult to do as these effects are certainly too - intangible.
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