Project Managers Are Now Facing the ROI Issue

Birmingham, Alabamaโ€”January 2019. In a recent conversation, a project manager said it all: โ€œWith my projects, Iโ€™ve always been concerned about managing the budget on the project, the delivery time, and the quality of the outcome, but now Iโ€™m being asked, Whatโ€™s the ROI of the project?โ€ His comment underscores what we see occurring for many project managers. Improvement projects are being implemented at a rapid pace, and while some projects are working, others are not. The funders of these projects want to see the projectโ€™s value. Because of this growing need, ROI Institute is pleased to announce a new practice specifically designed to help project managers capture and show the value of their projects and make sure the projects are successful.

โ€œPlease join us in welcoming Wayne Brantley to the ROI Institute team,โ€ said Patti Phillips, president and CEO of ROI Institute. โ€œWayne has a tremendous background in project management and ROI and is dedicating his time and efforts to help project managers measure the success of their projects all the way to the financial ROI. Wayne coauthored our book, Project Management ROI: A Step-by-Step guide for Measuring the Impact and ROI for Projects and will use this publication as the basis for the practice. Wayne will take the lead for the project management practice with the help of the ROI Institute team.โ€

โ€œProject managers are ahead of the process when they can develop the skill set of being able to focus on ROI, maybe even forecasting ROI upfront,โ€ added Jack Phillips, Chairman of ROI Institute. โ€œThis is not an issue to be dodged or one that will necessarily go away. When a project involves a large expenditure, and the value of the project is uncertain, this is a very logical request. In almost every one of our five-day certification sessions, which are conducted almost every week somewhere in the world, there are two or three project managers.โ€

โ€œMost project managers arenโ€™t prepared to show the ROI of their projects. They are good at what they doโ€”they use project management tools, are certified, and have the skill sets to keep the project on track, delivered on schedule, within budget, and with a quality outcome,โ€ Wayne explained. โ€œNow, they must ensure that the projects have the desired impact in the organization, and this means the impact must be clearly determined and designed for at the beginning. The project must start with why, and the why is a business measure. Then, the success of the project is then measured along the way and adjustments are made when necessary.โ€

The financial ROI is the newest requirement in a project managers tool kit. Although this is not necessary for every project, many more projects are fitting into this category, where we must show the value of the project. For more detail on why ROI is critical and how it works, click here.

For an example of a project management project that has delivered a positive ROI, please click here. For more detail on how a project manager can become a Certified ROI Professional to complement the Certified Project Manager designation, click here. For any other information regarding project management ROI, please contact ROI Institute at info@roiinstitute.net or 205-678-8101.

About ROI Instituteยฎ

ROI Institute, Inc., founded in 1992 as a service-driven organization, assists professionals in improving programs and processes using the ROI Methodologyยฎ developed by Dr. Jack J. Phillips and Dr. Patti P. Phillips. This Methodology is the global leader in measurement and evaluation including the use of return on investment (ROI) in non-traditional applications. ROI Institute regularly offers workshops, provides consulting services, publishes books and case studies, and conducts research on the use of measurement and ROI. This makes ROI Institute the leading source of content, tools, and services in measurement, evaluation, and analytics. Working with more than one hundred ROI consultants, ROI Institute applies the ROI Methodology in 20 fields in over 70 countries. ROI Institute authors have written or edited over 100 books, translated into 38 languages. Organizations build internal capability with the help of ROI Institute and its ROI Certification process.  By successfully completing this process, individuals are awarded the Certified ROI Professionalยฎ (CRP) designation, which is respected by executives in organizations worldwide. For more information on ROI Institute, please contact info@roiinstitute.net or visit www.roiinstitute.net.

ROI Instituteยฎ, ROI Methodologyยฎ, Certified ROI Professionalยฎ are registered to ROI Institute, Inc. USA and are used by others only with written permission of Jack and Patti Phillips.