What's the Benefit?
Challenges in Demonstrating the Value of Project Management
Projects are but one item on executive agendas competing for organizational resources. To obtain these resources, project managers must demonstrative to executives the value a project will generate and the return it will yield. Without such estimations, executives most likely decide against investment. This paper examines the challenges involved in obtaining proof that accurately gauges the value of realizing projects. In doing so, it looks at the previous return-on-investment (ROI) research on valuing projects, listing five steps that ROI shares with cost-benefit analysis methods and identifying three questions researchers suggest using to determine a project's value. It also recognizes three reasons why accurately valuing projects is such a difficult task. It then discusses the conceptual model underlying this study for collecting the data needed to conduct ROI research. It describes the three influences that show if projects are actually achieving value. It then discusses a diagram depicting the relationsh