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As part of my weekly ‘report’ to The Hobson & Holtz Report, I touched on the importance of measurement.
A book I have found to be of great value is Alan Weiss’ “Value Based Fees: How to Charge - and Get - What You’re Worth”
Disclosure: this is an Amazon affiliate link - I potentially can earn at least 5c from anyone purchasing it (I’ve never received anything from them yet; never hit their cheque threshold and unlikely to in my lifetime! ). Feel free to edit the link appropriately…
At the back of the book are some great questions we can use to measure and assess the value of what we are contributing:
- How would conditions ideally improve as a result of this project?
- What would be the impact on ROI?
- How would employees/shareholders/suppliers/other stakeholders notice the difference?
- How will you know when you’ve accomplished the business objective?
- What information do you need from employees, and in what form?
- Ditto for suppliers, vendors, management, external agencies?
- What is acceptable improvement, and what is ideal improvement?
- How will you be able to prove to others that the objective has been met?
- What would be the impact if you did nothing at all?
- What would happen if this project failed?
- What might you save or gain (in $ terms) if the project is successful?
- What might you lose if the project fails?
Great questions!
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