Capture and Market the ROI of Your VMO
Quantify the impact and demonstrate the value that your VMO delivers to your organization.
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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.
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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.
Book NowModule 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: | |
|---|---|---|
| 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: | |
|---|---|---|
| 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: | |
|---|---|---|
| 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: | |
|---|---|---|
| 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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