In her excellent blog post, Diane Smigel from Oracle Business Partner MSS Technologies points out that “The Cost of the Status Quo (COSQ) is one of the most important inputs to informed IT decision-making. COSQ has four key components that should be quantified as part of the business case for any technology decision: direct costs, indirect costs, hidden costs, and opportunity costs.”
Her article begins with this insightful observation -
“Most companies struggle to justify new technology investments. This is especially true in tough economic times, when popular wisdom suggests that major IT investments be deferred or canceled. This could be a serious mistake, and even fatal, for some organizations.”
She then shares a real-world example and concludes with the reminder of how important it is to incorporate COSQ analysis into annual planning, as well as project justification.
Are you holding steady – or moving forward?
Read the entire article here…..
