Few avoid the ROI discussion forever. If you do, you’re just lucky. It’s far better to be smart than risk being lucky – so you’re not blindsided, and have that discussion on your terms.
Things like “wellness” certainly can be quantified! If it could not, however would the (very profitable) health insurance industry function? And so on, you get the idea…
TIM WOOD POWELL | President, The Knowledge Agency® | Author, The Value of Knowledge |
New York City, USA | TEL +184.108.40.2060 |
<main@SIKM.groups.io> on behalf of "Murray Jennex via groups.io" <murphjen@...>
I agree with Nick, we aren't going to be able to avoid the roi discussion so we need to be prepared with at least a value discussion, and be prepared to propose some measures of value
for esoteric values like wellness and other ideas....murray
From: Nick Milton <nick.milton@...>
Sent: Tue, Aug 31, 2021 11:24 am
Subject: Re: [SIKM] Business Case for CoP Participation #CoP #value
Respectfully, I disagree. I think the ROI conversation is not necessarily a hostile one, but may be someone looking for a logical reason to support an emotional feeling (“I sort of like this idea, but need to make sure it makes good business sense”). You can call this CYA, or you can call it engaging minds as well as hearts.
I would suggest that you can look on the ROI conversation as an opportunity. You could ask to work with the person to (for example) look at the costs incurred by not managing knowledge (repeated mistakes, best practices not developed or applied, inconsistent performance levels, unhappy customers, lost capability as people retire, slow expensive onboarding etc). Very quickly you tend to find that these costs far outweigh any investment needed in KM. Then you ask for support to run a pilot to test the delivery of value, by using KM (and knowledge) to solve a business issue.
The ROI request is an opportunity to engage at a high level, and to agree a next step.
From: main@SIKM.groups.io <main@SIKM.groups.io>
On Behalf Of Stan Garfield
Robert, that's a very important point. Richard Cross wrote, "Never trust someone who says 'Show me the ROI' or 'You can only manage what you measure.' Anthropologists maintain that in every culture there are apparently rational questions that mask hostile intent. 'Show me the ROI' or 'Yes, but how do you measure it?' generally fall into this category. When confronted with these types, start to get alarmed."