Capture and Market the ROI of Your VMO
Quantify the impact and demonstrate the value that your VMO delivers to your organization.
RETIRED CONTENT
Please note that the content on this page is retired. This content is not maintained and may contain information or links that are out of date.Without an objective methodology for determining the VMO’s ROI and aligning with the organization’s goals, the VMO is at greater risk of being:
- Misunderstood.
- Viewed as additional overhead.
- Considered unnecessary.
- Regarded as adding no value.
- Eliminated.
Adopting a comprehensive approach to calculating and marketing a VMO’s ROI allows the VMO to:
- Quantify the ROI of the VMO.
- Market the VMO’s impact internally to gain alignment.
- Justify the need for additional resources.
- Support the need for the VMO.
- Defend the value created by the VMO.
Book Your Workshop
Onsite Workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn’t enough, we offer low-cost onsite delivery of our Project Workshops. We take you through every phase of your project and ensure that you have a road map in place to complete your project successfully.
Module 1: Get Organized
The Purpose
- Determine how you will measure the VMO’s ROI.
Key Benefits Achieved
- Focus your measurement on the appropriate activities.
Activities: | Outputs: | |
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1.1 | Determine your VMO’s maturity level and identify applicable ROI measurement categories. |
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1.2 | Review and select the appropriate ROI formula components for each applicable measurement category. |
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1.3 | Compile a list of potential data sources, evaluate the viability of each data source selected, and assign data collection and analysis responsibilities. |
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1.4 | Communicate progress and proposed ROI formula components to executives and key stakeholders for feedback and/or approval/alignment. |
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Module 2: Establish Baseline
The Purpose
- Set baselines to measure created value against.
Key Benefits Achieved
- ROI contributions cannot be objectively measured without baselines.
Activities: | Outputs: | |
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2.1 | Gather baseline data. |
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2.2 | Calculate/set baselines. |
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2.3 | Set SMART goals. |
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2.4 | Communicate progress and proposed ROI formula components to executives and key stakeholders for feedback and/or approval/alignment. |
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Module 3: Measure and Monitor Results
The Purpose
- Calculate the VMO’s ROI.
Key Benefits Achieved
- An understanding of whether the VMO is paying for itself.
Activities: | Outputs: | |
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3.1 | Assemble the data and calculate the VMO’s ROI. |
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3.2 | Organize the data for the reporting step. |
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Module 4: Report Results
The Purpose
- Report results to stakeholders.
Key Benefits Achieved
- Stakeholders understand the value of the VMO.
Activities: | Outputs: | |
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4.1 | Create a reporting template. |
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4.2 | Determine reporting frequency. |
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4.3 | Decide how the reports will be distributed or presented. |
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4.4 | Send out a draft report and update based on feedback. |
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