A surprising number of organizations struggle to deliver the value expected due to a simple trap -- they use different measures of value in their investment portfolio process and daily operations. In budget decision-making processes, there is often one set of financial tools, whether a spreadsheet, or a more formal portfolio or financial planning application.
Yet, daily performance is reported through more typical accounting systems or maybe IT service management systems.
Tips for Reporting Value with Consistency
First, configure all systems to track similar measures. This is generally a business-analyst/end-user type skill in an IT Finance role.
Second, look for opportunities to integrate your software tools. Ask your vendors how they have helped others.
To help you toward success in value measurement and reporting, here's a bonus tip from the painful lessons of others -- implement all these tips in a balanced way.
It's a bit sad to hear how an energetic leader worked so hard on one or two of these key areas, and yet still faced a grilling on "where's the value?" Print out this list, tack it to your wall and check off each tip as it's completed. Take the hard lessons others learned and put them to good use.
Brian Barnier has a split career between the business and IT. He co-developed a new program in auditing IT risk management for the Information Systems Audit and Control Association (ISACA). He is a principal at ValueBridge Advisors, where he draws on his experience to provide advisory services such as executive mentoring and problem-solving workshops.
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