The cost and Value of IT - Value of IT

3 important questions on The cost and Value of IT - Value of IT

How to measure IT Value?

Find capabilities that competitors could not match (VRAINN)
Compare competitors capability with company's capability
Measure how much of the capability would be there without IT

McFarlan's Strategic Grid

Strategic dependence: How lang can the business continue without the system?
Startegic impact: how important is the system for value creation and competitive advantage

Difference between efficiency and effectiveness

Efficiency: internal, doing things right, cost reduction and productivity enhancement of a busniness process

effectiveness: external, doing the right things, attainment of competitive advantage

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