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Showing posts with the label ROI

Maximizing Training Value: How to Get the Most From Your Organization's Training Investment

In the ever-evolving landscape of business, investing in employee training is a crucial step toward maintaining competitiveness and fostering growth. However, it's essential to ensure that your organization's training dollar spend translates into meaningful outcomes and lasting benefits. In this blog, we will explore effective strategies to help your organization extract the maximum value from its training investments. ITSM Academy, Founder and CIO, Lisa Schwartz, recently presented a webinar on this topic, with practical advice about maximizing your investment once the decision has been made to conduct training - watch here Align Training with Business Goals: The foundation of a successful training initiative lies in its alignment with your organization's strategic objectives. Before investing in any training program, carefully assess how it contributes to key business goals such as improved performance, increased sales, or enhanced customer satisfaction. When training is...

Asset Management or Configuration Management - Which Do I Need?

I once heard an IT manager say… “We do not need Service Asset and Configuration Management”!  We have Asset Management and we can add a few more fields of information for IT in that database.”  Is this true?  Would this give the service provider the same value as a Service Asset and Configuration Management Process and System?  Asset Management Most organizations have a process that tracks and reports the value and ownership of fixed assets throughout their lifecycle. This process is usually called Fixed Asset Management or Financial Asset Management.  Activities in traditional Asset Management include such things as documenting the cost of the asset and projected life of the asset.  Other bits of data captured might be the cost of maintaining the asset.  For the most part this is financial information.  Being able to determine the depreciation of an asset is year over year, Total Cost of Ownership (TCO) and Return on Investment (ROI) are ...

VOI and ROI of Release and Deployment Management

I was recently asked about the ROI and VOI of Release and Deployment Management.   Let me start by acknowledging that there is a lot of confusion about the difference between Release and Deployment Management and Change Management.     Change Management is a risk management, governance process.     Release Management is more actionable – it is about bringing one or more changes to life through defined pre and post production activities.    You could almost call it the DevOps process. The growing requirement   for rapid (some would say continuous) deployment does not undermine the need for quality releases.     In fact, a structured approach to rapid deployment is more critical than ever since there is less time to flush out errors.   You can make the process more agile by building release models for different types of releases.   The models can match the rigor associated with building, testing, i...

Payback time for ITIL

This article was written by Bob Mathers and printed in CIO Canada on March 8, 2009. Since it covers one of my favorite topics, the ROI of ITIL, I am sharing the whole article with you. The ‘version 3’ updates of the Information Technology Infrastructure Library, released in the spring of 2007, have breathed new life into ITIL. Certainly, it has sparked renewed interest from CIOs.   By applying a common language and best-practice guidelines for managing basic functional processes, ITIL goes beyond a basic focus on infrastructure cost efficiency and personnel productivity. As such, it is especially popular within organizations that are committed to performance improvement and seek to take their strategies to the next level. Increasingly, however, many executives are questioning the payback of investments in ITIL. It’s not that ITIL has failed. Indeed, evidence shows that a vast majority of executives involved in ITIL initiatives believe that the guidelines have produced bene...

Calculating ROI on IT Service Management

One of the questions I am often asked is, "How do we calculate the Return on Investment (ROI) of our ITIL Implementation". This week, a new case study was introduced covering: ROI Calculator Case Study Synopsis Traditionally, ROI and TCO are touted by software companies as a means to sell software. Many of us have become hardened to these calculations, as experience has show they were grossly over-inflated. To help combat this, in 2006, ITSM Academy shared a realistic, un-biased ROI calculator which enables users to estimate potential costs savings of: Incident Management Availability Management Unplanned Work Existing calculations can be easily tailored to produce similar process area calculations. Case Study Synopsis The case study also includes a collection of 25 published ROI statements and stories, broken out by industry type. The following is one of the quotes: "An ITIL program at Capital One resulted in a 30% reduction in system crashes and software-distribution...