From the course: Evaluating Business Investment Decisions
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Why evaluate business investments?
From the course: Evaluating Business Investment Decisions
Why evaluate business investments?
- Many years ago a client of mine gave the go-ahead to a concept that was pitched their way. But there were no costings, no benefits documented, and only a vague outline of what would be delivered. Essentially, they acted on impulse. A gut feeling, if you will. Now, don't get me wrong. Intuition is important, but acting on instinct alone is fraught with huge risk, especially if the project fails. And in this case the client did get it wrong. They spent nearly one million dollars on portfolio management software that didn't even end up being installed. When I delved into the matter further, I discovered that this initiative had been approved without a business case and by a manager that had an ample bucket of discretionary investment dollars. This is sometimes referred to as a slush fund. Okay, I also found out that the client had been subject to undue pressure from a software vendor that could sell sand to beachgoers.…
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