Going fast beats going cheap...
Updated: Apr 5, 2019
When it comes to delivering business value, focusing on speed beats focusing on Return on Investment (ROI). An ROI focus drives us to select projects with the goal of reducing head count or otherwise leveraging the productivity of employees, but the results fall short. The project costs commonly exceed the estimates. When the project is implemented, the anticipated headcount reductions are so rarely taken that portfolio management frameworks prescribe a process called "Benefits Realization."
In today’s rapidly changing business landscape, speed is more valuable than squeezing out the last ounce of cost. Consider the business value of launching a new product six months earlier, completing a customer project in a month instead of a year, or slashing the cycle time of a critical business process. How about the value of reducing the time for customer feedback on a new software feature?
Since no senior executive ever says, "Take your time," we really need to supercharge our value delivery vehicles rather than simply squeeze a bit more MPG from them.