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Decision Analysis
Decision Analysis & Management for Important Technology Initiatives
The statistics* of a recent study by Bryan Maizlish and Robert Handler* tell a gloomy story for business managers who rely on IT system projects:
- 72% of projects are late, over budget, lacking in functionality, or never deliver it,
- 50% of managers said they could have realized the value with half the cost,
- only 52% of IT projects realized their intended strategic value,
- only 7% of IT budget could be correlated to new benefits.
*Maizlish, Bryan and Robert Handler. IT Portfolio Management: Unlocking the Business Value of Technology. Hoboken: John Wiley & Sons, Inc., 2005.
Naturally, the following questions arise:
- What are the causes of these dismal outcomes?
- What can you do about it?
- If you can do something about it, what is the value and ROI ?
A study by Prof. Paul Nutt at Ohio State showed that most of the cause for the failure is based on the process the team and decision makers go through, and less than 10% due to external factors. It is the pitfalls that most organizations fall into with important decisions that create the failures. Every business decision involves making tradeoffs and adopting a certain degree of risk. Unfortunately, a poor decision process will expose an organization to additional risks, lost opportunity, unnecessary rework, and underutilized human capability.
This training course provides an introduction to the means to overcome these hurdles so that decision makers are more fully informed about the reasons for making a commitment, the risks for doing so, and how to manage risks in a more reliable manner. Key elements that will be presented include:
- The root cause of failure in technology-related initiatives and a process designed to overcome them,
- How to properly frame the purpose and scope with a set of viable alternatives to consider,
- How to achieve the proper alignment of project goals with the overall objectives of the business,
- How to measure the intangible benefits and costs that frequently receive little attention but contribute significantly to the potential value and risk of an initiative,
- How to create valuable hybrid strategies from the tradeoffs discovered using the value of information and the value of control techniques.
www.incitedecisiontech.com
Please contact Amanda Shook at ashook@tagonline.org or 404-920-2023 to schedule your onsite class or register for this or other TAG Training Provider Program classes.
