Would you invest two million dollars to get $50,000 a year in return?
I hope not!
Would you invest a weeks’ time to save a day per month?
As these questions display, value is easy to understand.
What is it in these questions that drive to ease of understanding? I think it is the information. Yes, superior information leads to outstanding decisions. They expose the value proposition.
When organizations consider new initiatives, there must be an accurate and mature inspection of the value proposition. What does the organization need to invest and what does it hope to gain? It is nice to experience on-time, under-budget, exceeding expectations. Is this a mature view of a project?
NO. Things go wrong, delays occur, budgets are exceeded, and expectations lead to frustration. A mature, accurate prediction of value includes some error. As a rule, significant experience at the helm leads to less error in the outcome.
An advantage of outsourcing is that when the right partner is identified, they bring value-enhancing experience to the project. Worth considering when faced with new initiatives. Superior information and germane experience tilt the table in your favor as you seek value.
Key Question – How much value does the desired outcome deliver to the organization/mission?
This is part 4 of 4 in the series In-House or Outhouse.