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Reverse ROI

Updated: 6 days ago

We always hear about an ROI (Return on Investment) to sell an idea or project to management. Consider creating what I call a “Reverse ROI”. Show your organization the ROI after a project.

The How

How can you utilize this technique? Here are some examples you can utilize to create ROI after the project.

a. Track Training Results – Track number of sessions, number of attendees, and any certifications if applicable.

b. Track Clean-up Efforts – This can be electronic files, paper files, linear feet in cabinets emptied, volume of information sent off-site, and disposition. Clean-ups can also include reducing electronic information and creating naming conventions to mitigate inability to find information.

c. Track Increased Form Use – If you are creating a new form or enhancing a form, make sure you show how the form is being utilized and by whom.

d. Track Website Use - Work with your IT department to show how often your site is visited and which links are the most used. This helps you determine appropriate content, but it also can help you show your management the value of RIG.


Adjust these metrics to fit the project you are completing. You can track results and show those results linked to organizational goals and departmental goals. Share them with the individual teams that impact and your management.


The Spin

Don’t be afraid to share failures. Always include lessons learned. If you create a goal or short-term project and it doesn’t succeed, own it. Management already knows if it didn’t succeed or only accomplished part of its goals. Learn to spin it like a politician. Go over challenges/issues and how those will be addressed in upcoming projects. Emphasize what parts of the project succeeded. Make recommendations that will enhance future projects by your team.


A quick way to capture this is by addressing three areas:

Observations

Issues Identified

Needs for future projects


And above all, be sure to acknowledge individuals and departments that had success. Not only will this demonstrate real time advances, but also gives recognition to those who participated. Your acknowledgement will be documented (which is good for them). You will be seen as appreciative of those doing the work (which is good for you). This will advance your next project by leaps and bounds!



Looking for how to capture the metrics mentioned? Be watching for the upcoming blog that illustrates a simple tool that can be created in a simple spreadsheet.



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