In a recent post I discussed the value of project management. See related posts below. From the comments on that post, we see that there are several kinds of benefits of having a project management method. My conclusion was that we manage projects to increase revenues.
This post is about quantifying the increased revenues.
Passion for Quantifying
Quantifying the value of project management is one of my passions. ( Used to work in the project economics department of an Exxon Refinery, where I had to quantify the revenue of every one of my projects ).
Importance of Quantifying
Senior Management always wants to know if project management will pay for it's cost. That is why it is important for us project mangers to quantify the value of project management.
Quantifying the Value of Project Management
In some cases project management will generate a one time saving, such as when getting a product on the market faster.
In other cases project management will generate recurring savings, such as when implementing software to work more efficient.
This is in brief the approach we have to take in quantifying the value of our profession.
TIME = MONEY