Setting Up an ROI Methodology

Create an ROI program that's headed by an official in the CFO's office who becomes the ROI guru.

In addition to calculating ROI, the ROI guru should serve as an evangelist throughout the company, promoting ROI and how to implement it.

The ROI guru should hold weekly or biweekly meetings with business and IT players to create a standard method for ROI measures. After three months, they should develop a template of measures to be used for future IT projects.

The ROI guru must get the CFO and CIO to buy into the strategy that the business and IT players have developed.

Create a "life cycle cost of ownership" method for measuring IT projects. During the implementation phase, the ROI guru can derive data on full life cycle costs for each IT function. These should then be measured for each new project.

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