Cost Center’s Guide to Benefit Assessment

Technology projects face many challenges prior to initiation, one of them being capital budgeting decision making i.e. being able to showcase the benefit delivery against the cost to the firm. This becomes challenging to gauge during the execution of the project and even more challenging in times of shrinking budgets, as the resources decrease and yet the benefit expectation remains consistent. In this paper we discuss how can a program sustain challenging scenarios and adapt the benefit reflection models to showcase the true benefit assessment. We will walk thru the various methods of capital budgeting used for project assessment during the business case and share the recommendation on how to continue to assess the project during its execution to be able to derive the benefit assessment in no time.

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“We hold many dubious beliefs not because they satisfy some important psychological need, but because they seem to be the most sensible conclusions consistent with the available evidence.” -Thomas Gilovich