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How
To Find The Best ROI
By Dennis Sommer (www.dennissommer.com)
The current economic climate dictates that companies must
invest in projects that bring the greatest return. We
recommend the following steps to realize the quickest
and biggest return on your business and IT investments.
Identify
Identify key performance indicators (KPI's) that support
your business goals and objectives. KPI's should be indicators
that drive behavior to achieve the business goals and
objectives. The KPI's must be quantifiable.
Estimate
Estimate return on investment (ROI) according to the identified
key performance indicators (KPI's). Use the financial
ROI models preferred by your finance department. These
models include; return on investment (ROI), net present
value (NPV), internal rate of return (IRR), payback period,
etc.
Implement
in Phases
Implement projects in a phased approach. Use ROI models
to measure and support each phase. It is most important
to achieve ROI results as quickly as possible.
Prioritize
Prioritize project phases by ROI impact to the business.
Allocate resources to the activities that will provide
the biggest and quickest benefits to the company.
Measure
Track actual results. Compare the actual results to the
estimates developed earlier. Monitor performance with
a project performance scorecard.
About The Author
- Dennis Sommer
Dennis Sommer
is the founder and CEO of Executive Business Advisers,
a management consulting firm specializing in business
growth, sales and profit improvement. www.executivebusinessadvisers.com
Dennis helps companies increase sales revenue, reduce
sales and marketing costs, improve marketing ROI, and
drive new business growth by improving and optimizing
their sales, marketing, company strategy and financial
health.
Dennis is a highly sought after business keynote and seminar
speaker www.dennissommer.com
and author of several highly popular sales, marketing,
leadership and professional development international
articles and books www.advisersecrets.com
.
Contact Dennis at 800-627-6512.
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