Building Tomorrow’s Future: Maximizing ROI
Successful organizations must recognize that resources are finite and target their project funding where they yield the highest value. What is an excellent project today may not be an excellent project tomorrow, with the world changing daily. Organizations need to implement the right projects at the right time so as to not lose out to competition and maximize their future revenues. EPPORA provides the tools to accomplish optimal project selection and ranking on a daily basis.
A recent Wall Street Journal article stated: “Successful organizations need to implement the right projects at the right time to not lose out to the competition. Organizations need to nimbly respond to sudden changes in the environment and customer needs. Portfolio decisions made today determine whether your organization will be competitive and relevant tomorrow. With a fine line between failure and success, organizations need to continuously determine which projects to fund based on sound criteria. Projects are powerful strategic weapons, initiated to create economic value and competitive advantage.” EPPORA helps organizations improve their method used for project selection by providing the following features:
Cost and return on investment (ROI) are very important criteria for a project but not the only ones that should be considered. EPPORA has 25 built-‐in criteria such as cost, anticipated ROI, synergy with other projects, government regulation compliance, alignment with organizational goals and risks (technical, financial and management).Each has a default importance factor, and EPPORA project portfolio managers can modify each criterion’s importance and/or add additional criteria.
EPPORA’s project selection methodology eliminates the project sponsor’s charisma and friendly association with executive committee members. The merit of the project, as determined by the criteria weights and scoring determines a project’s ranking. Experts when specifying each criterion’s importance, Subject Matter Experts (SMEs) are appointed to continuously evaluate each of their designated projects against the selected criterion.
The world is always changing, what is a good selection today may not be good selection tomorrow. Therefore, projects are ranked every day with EPPORA and executives knowing daily the ranking of their projects can then make prudent, intelligent decisions on a daily basis.