Using a business-case approach with tools to assess total cost of ownership, cost/benefit analysis, and return on investment will help you minimize risks and costs associated with IT investments.

by Paul Dooley

As IT professionals, we are faced with many challenges in the course of carrying out our responsibilities. Some of these challenges may have to do with making decisions about significant investments in support systems, tools, headcount, or even key process changes. You may need to decide:

• Should I remain with the status quo or implement a new service management system (SMS)?
• If I implement a new SMS, which vendor’s system should I choose?
• Is it worthwhile for us to implement a knowledge management process along with a supporting system?
• Should I invest in remote access tool A, B, or C?
• Is it wise for me to consolidate our multiple help desks to a centralized service desk, or should we remain decentralized?

These decisions require careful consideration so that risks and costs can be minimized and benefits can be assured and maximized. In addition, your career and future advancement in the organization may at times hinge on making the right decision that leads to success! Using a business-case approach to decision making and utilizing the right steps and three must-know financial tools can help you identify the right course of action and the right decision.

Read more in the new Support World article at HDI  ==> http://www.thinkhdi.com/library/supportworld/2016/three-must-know-financial-tools-effective-decision-making.aspx