Capture all Costs and Benefits
Transforming Banks for a Digital Future: The Winners, The Losers, and the Strategies to Beat the Odds
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:
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