Applying the FAP Model to the Evaluation of Strategic Information Technology Projects

Applying the FAP Model to the Evaluation of Strategic Information Technology Projects

Frank Lefley, Joseph Sarkis
Copyright: © 2005 |Pages: 22
DOI: 10.4018/jeis.2005040105
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Over the past two decades, we have seen a growth in enterprise resource planning (ERP) systems adoption by organisations. Even with the many benefits offered by such systems, there have also been many failures. One of the important reasons for these failures is inappropriate project evaluation and selection. In order to reduce the level of project failures, we introduce an innovative methodology, the Financial Appraisal Profile (FAP) model, which seeks to address some of the issues and limitations posed by standard appraisal and evaluation approaches for strategic technologies and programs. By making the right decision in the first place and involving senior managers in the appraisal process, the organisation will be better placed to achieve project success. The adoption of a management team approach to investment appraisals will not only enhance the information base, but will also result in greater managerial commitment to a project. We believe by adopting the FAP model, greater awareness to strategic issues and goals will also be achieved, which should lead to a more focused top management team — with all members pulling in the same direction.

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