From the course: Delivering Results with a Business-focused PMO
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Leadership value
From the course: Delivering Results with a Business-focused PMO
Leadership value
- There's only one reason organizations invest in anything, to generate a return. Often, that return is measured in financial terms, but it doesn't have to be. It could also be risk reduction, customer and employee satisfaction, or compliance. In the public sector, the return is also measured through improved services to taxpayers. In the not for profit arena, it may be better outcomes for those being supported. This return on investment, or ROI, is at the heart of how businesses make these decisions. Most of the money they generate has to be placed back into their operations, salaries, raw materials, overhead. They have no choice about that and it leaves a limited amount available to look into areas that will drive improvement. Businesses must make sure they get the biggest gain possible from those investments. The most common use of this discretionary budget is projects. Projects are how a business advances its day-to-day activities. An investment in a project is designed to deliver…
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