As your business grows, you will likely find more ways to use technology to increase production (and hopefully, profits). Making the decision to enhance your technology environment in order to achieve your business objectives is a necessary milestone, but it is equally important to identify the scope and budget of your project before jumping into implementation.
This article explains a phased approach that will help you maximize your budget and provide the greatest results when considering a technology enhancement.
Phase I - Business Need
This initial phase is designed to help you determine if you have answered the "why" questions as it relates to your objectives. You should be able to clearly identify the business benefit (return on investment) for your potential project after completing this phase. Here are the steps that will guide you through this phase:
- What is the problem/deficiency that needs your investment in time and money to be solved?
- Does your business challenge absolutely require new or enhanced technology?
- Do your employees require additional training with existing systems?Can the challenge be solved by changing the workflow or business practices?
- Once the problem is clearly defined and the solution points to technology improvements, a preliminary budget can be established.
Phase II will discuss how to define the scope of your project.