Capture all Costs and Benefits

Sounds simple, but enterprises struggle with this. In workshops, IT leaders will often say "we've done this." Yet, in exercises, it becomes clear there are gaps. On the benefit side, a typical trap is failing to talk to all beneficiaries in the organization and ask how they benefit from a given solution or service.

Tip for Understanding Who Benefits

Simply ask the primary sponsor "who else benefits?" and have a conversation with that person or team. Sometimes, the beneficiary is in the "extended enterprise." The process of having a conversation with a business partner or major customer might not only help you improve the documentation of benefits (and value measures) but also to sharpen your requirements.

On the cost side, a typical trap is undercounting lifecycle costs, even insurance costs. This can show up in something as complex as an acquisition or more tactical such as a new software application.

Tips for Managing Costs

A simple tip in software acquisition is to just talk with the vendors about lifecycle costs under these two scenarios: