Vivek Kundra, Federal CIO, wrote in his blog “Evidence-based decisions” that within a few weeks of launching the Federal IT Dashboard the Department of Veteran Affairs announced halting of 45 IT projects worth approximately $200 million which were either behind schedule or over budget. Mr. Kundra writes, “We were able to catch these contracts, in part, thanks to our new tool, the ‘IT Dashboard’ which helped shed light on the performance of projects across the federal government.”
Such is the ROI of a dashboard – you can’t tell the monetary value of savings through increased accountability or eliminated inefficiencies until you discover them. An interesting sound byte but a wise truism nonetheless – you don’t know what you don’t know.
In my experience with hundreds of dashboard implementations, every successful dashboard implementation had a strong ROI whether it was through improved decision making, timely information availability, improved performance, greater accountability, increased awareness, better monitoring – and the list continues. In most cases, it is a mix of several of the above factors. However, being able to measure and monetize the value of these benefits, especially prior to the dashboard implementation, was almost impossible.
The monetary value of these gains doesn’t even take into consideration the savings that come from eliminating manual effort in data collection and presentation that are mostly eliminated after a successful dashboard deployment. Such gains are much easier to identify and quantify in monetary terms.
If you have your own anecdotes of dashboard-related savings please send it our way and we will continue to build upon the list for the benefit of others.
President & CEO, iDashboards