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SUMMARY:A Benefits Management Approach to Reduce the Risk of IT Project Fa
 ilures - Dr Gilbert Fridgen\, Research Center Finance &amp\; Information M
 anagement\, Augsburg University
DTSTART:20121008T130000Z
DTEND:20121008T140000Z
UID:TALK40237@talks.cam.ac.uk
CONTACT:Philip Woodall
DESCRIPTION:The probability of IT project failures can be mitigated more s
 uccessfully\nwhen discovered early. To support this\, transparency regardi
 ng a project’s\ncash flows is necessary. Therefore\, a monetary analysis
  and calculation of a\nproject’s costs\, benefits\, risks and interdepen
 dencies is inevitable to\nenable comparability\, not only of different pro
 jects but also of one\nproject´s progress at different points throughout 
 its development. Until\ntoday\, however\, a method that appropriately cons
 iders costs\, benefits\, risks\nand interdependencies when estimating the 
 project business case does not yet\nexist. Hence\, we developed an approac
 h to benefits management\ncollaboratively in an Action Design Research set
 ting. We gathered feedback\nfrom business practice (McKinsey & Co. and Hil
 ti Corp.) regarding efficacy and\napplicability of the method while at the
  same time upholding scientific\nrigor. To enable an early detection of IT
  project failures\, this method can\nbe integrated into a project manageme
 nt cycle. In this context\, we define\nkey figures for performance measure
 ment and project steering\, providing data\nif the project’s future pros
 pects indicate a continuation\, demand for\naction\, or even an early term
 ination of the project. This approach to\nbenefits management supports red
 ucing the probability of IT project\nfailures.
LOCATION:Seminar 1\, Institute for Manufacturing\, 17 Charles Babbage Road
 \, Cambridge
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