All things considered
When determining the projects that a company should pursue, return on investment (ROI) is often used. This article suggests that executives should look beyond ROI and the bottom line when selecting projects. A project and risk-management consultant recommends that organizations should establish a documented assessment process across the business to ensure effective use of resources and alignment with strategic goals. The question companies should be asking is: What benefits will the organization realize from this project? Projects that cannot prove ROI or strategic relevance must be driven by the following: meeting regulatory standards, improving quality, and ensuring business continuity. Accompanying this article are two sidebars: The first one looks at how companys shuffle resources; the second lists four steps for looking beyond ROI.