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Achieving Business Value from Technology: A Practical Guide for Today's Executiveby Tony Murphy
Synopses & Reviews
PRAISE FOR ACHIEVING BUSINESS VALUE FROM TECHNOLOGY
"Clearly, IT investments have never before played such a critical part in business growth. The book addresses the weakness existing in most management systems involving the lack of a systematic process to realize the economic benefits of the IT investment and provides a clear A-Z methodology for business to bridge this gap. This book is clearly written for all levels and backgrounds in business management and is a must-do for those whose business involves IT, is considering IT, or would like to significantly tailor IT investments for their economic advantage."
—Professor Richard P. Wool, University of Delaware, President and CEO, Cara Plastics Inc.
"Tony Murphy addresses the difficult question of the value of IT investments head on. He translates an elegant theory into effective practice. The case studies in the book effectively reinforce his key messages."
—Dr. Dermot Moynihan, Senior Vice President, World Wide Chemical Development, GlaxoSmithKline
"This book is the answer to most CIOs' need for a well-structured, pragmatic, and easily implemented set of tools and practices designed to answer the universal problem of managing and measuring IT's contribution to the business. Tony Murphy's unique blend of practical experience, industry best practice, and excellent communication skills provides the reader with a valuable-and highly readable-guide on how best to achieve that elusive objective of reliably realizing the business benefits of IT investments."
—Michael Rice, oup Director of IT, Kerry Group plc
"At Oxfam we are one year into a three-year IT strategy based on the principles Tony Murphy lays out in this book, and there is a real, positive difference in how IT is perceived, and in its real strategic position within the organization. If you have ever wondered just how you can gain strategic alignment for your IT function, and then how to make the practical link to IT investment for the organization, Tony has provided a framework that joins them both."
—Simon Jennings, Head of Information Systems, Oxfam GB
This title looks at IT initiatives and assess them in real-time. Decisions can then be made to alter, abandon or continue the project with the knowledge of what the business impact will be.
Achieving Business Value from Technology offers the expert guidance, real-world advice, and practical methodology managers need to ensure that their dollars aren't wasted on IT disasters. It shows them how to assess projects in real time and decide whether to alter, abandon, or continue them with a clear understanding of likely impact on the business.
With the increasing importance of technology in a business world redefined by globalization, high-octane competition, and the shift from mass production to mass customization, it's more important than ever that your IT dollars are well spent in pursuit of efficiency, adaptability, and market mobility. Knowing which initiatives offer real business value can be the competitive advantage your business needs to thrive. Simply put, no matter what your business is, IT is your business.
Achieving Business Value from Technology offers proven techniques, methodologies, governance mechanisms, and best practice guidelines to guarantee your money is transforming your current IT setup from potential value to real value. The approach offered in this book-and developed by the experts in Gartner's Consulting and Measurement practices-has been proven to help managers make the right IT decisions every time.
Author Tony Murphy outlines a systematic process managers can use to identify, track, and realize benefits and value from their IT investments. This methodology helps management bridge the traditional gap between the business and IT sides of the organization and incorporates IT value metrics into conventional management reporting systems.
Managers will learn to monitor opportunities, risks, and impediments at all stages of the investment cycle and rest assured that the money they invest in IT will bring long-lasting and measurable benefits to the organization.
The author also provides guidelines for undertaking post-implementation benefit audits and IT sourcing, as well as tips and techniques for optimizing asset management and minimizing ongoing total cost of ownership.
Make Your IT Dollars Count. Achieving Business Value of Technology helps business; technology and financial executives determine a more meaningful return on investment for technology applications. Based on the five pillars of benefits realization along with a study of people and process; this book breaks new ground in helping executives understand the impact of emerging technologies and how to value them in their organizations. In concise engaging prose, the author examines five case studies of applications in process and methods for valuation. The book suggests a systematic process to identify, track and realize the benefits from IT investments, and thereby derive business value from IT investments. It provides a language for executives to use to help bridge the business /IT chasm and will demonstrate how to identify the opportunities, risks and impediments at all stages of the investment cycle. The book also offers a strategic learning framework for management understanding of IT cost/benefit dynamics. Managers will also learn an unconventional approach keeping staff focused on supporting business objectives and strategies. This book opens up new territory in terms of achieving business value from IT (BVIT), which is fundamental to the successful management of an IT portfolio.
About the Author
TONY MURPHY,PhD, is a Vice President in Consulting and a thought-leader in the field of IT investment appraisal and benefits realization at Gartner, Inc., the world's largest technology research organization. With nearly thirty years' experience as CIO, software developer, project manager, consultant, and university lecturer, Tony is a sought-after advisor to many of the world's leading corporations and public sector bodies. In addition, he has played an active role in the development of the Irish software industry and is a former vice president of the Irish Computer Society.
Table of Contents
Chapter 1: Industrial Age Thinking for Information Age Problems.
Business Value from Information Technology (BVIT)-A Large and Growing Problem.
Learning from Case Studies.
What Do These Case Studies Have in Common?
Some Historical Perspective.
Drawing Conclusions from These Changes.
Revisiting the Case Studies.
Industrial Age Thinking for Information Age Problems.
The Limitations of Financial Metrics.
The Value of Financial Techniques for IT Investment Appraisal.
What Else Do We Need?
Chapter 2: The Five Pillars of Benefits Realization.
Pillar 1: Strategic Alignment.
Pillar 2: Business Process Impact.
Pillar 3: Architecture.
Pillar 4: Direct Payback.
Pillar 5: Risk.
Chapter 3: P2-Process.
Step 1: Setting the Ground Rules.
Step 2: Defining IT Value Standards.
Step 3: IT Value Analysis.
Step 4: IT Value Project Management.
Step 5: IT Value Achievement.
Step 6: IT Value Management.
Selecting Specific Products and Vendors.
Chapter 4: P3-People.
Roles-A Foundation Stone of Effective Governance.
The IT Council.
The IT Investment Board.
The Office of Architecture and Standards.
The Project Office.
Summary and Next Steps.
Appendix A: Sample Value Standards.
Business Process Impact.
Appendix B: Sample Value Standards Scoring Metrics.
Business Process Impact.
Appendix C: Completed Weightings.
Appendix D: From the Field-Investment Case Worked Example.
Appendix E: Quantifying End-User Benefits.
Opening the Meeting.
Resolution of Inconsistencies.
Quantifying the Benefits.
Appendix F: Gartner Recommended Approach to Risk Management.
Collaborative Risk Management.
Risk Assessment Processes.
Predictability and Complexity of Risks.
Appendix G: Analytical Hierarchy Process/Analysis.
Appendix H: Probability Analysis (Monte Carlo Simulation).
Appendix I: Gartner Approach to Change Management: Strategic Planning Assumption.
The Need for Change Management.
The Human Response to Change.
Appendix J: Financial Metrics.
Net Present Value (NPV).
Internal Rate of Return (IRR).
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