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Your strategy to define project goals at the outset puts your organization on the right track. Determining ROI starts with measuring the right data; after all, you can't calculate what you don't quantify. Be sure the ROI measurements are aligned with corporate success, and that this IT project, like all others, drives bottom-line business value.
Going into the project, understand that ERP projects typically:
- Take 6 to 18 months to implement.
- Deliver payback in 12 to 24 months after project start. Deployments and user adoption take time, and business change needs to occur around the technology platform.
- Have risk adjusted returns range from 100 to 400%, making them some of the best projects in a company's portfolio.
- Stay on course with current decisions until the dust settles. Don't consider radical changes or platform switches as a knee-jerk reaction.
- Demand quick payback from any project and be sure to do financial due diligence that takes transition risks and costs into account.
- Continue with upgrade plans, as long as the business case is still sound and risk of transition is factored.
This was first published in October 2004