This extract from Michael Blackstaff’s book, Finance for IT decision makers, teaches you how to make business and financial cases for IT projects.
After reading this article you will be able to:
• explain why organisations should attempt to quantify both the benefits and costs of a proposed investment;
• explain the difference between a financial case and a business case;
• describe some ways in which it may be possible to quantify ‘intangible benefits’;
• list four kinds of financial benefit;
• describe the difference between cash flow and profit, and explain why cash flow is usually regarded as the fundamental basis for investment decision-making.
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