How do you approach project decisions when ROI is difficult to quantify

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Some projects—especially things like innovation or process improvements—don’t have an easy-to-define return on investment. How do you decide if they’re worth the time and resources?
Feb 28 in PMP by Parshvi
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When projects like innovation or process improvements don’t have an easy-to-define return on investment (ROI), here’s how to assess their worth:

  • Stay Calm and Objective: Read the situation from a calm and objective perspective. Be fact-oriented, not emotional, to prevent things from getting worse.
  • Communicate Early: Highlight issues when they first occur. Be open with the vendor about the issues at hand, citing specific missed deadlines, quality issues, or communication failures.
  • Collaborate on Solutions: Cooperate and work together to come up with a solution. Request their opinion on how the problem can be solved, and come to an agreement on concise action steps, timelines, and roles.
  • Document Everything: Keep written records of all communications, agreements, and action plans to avoid future misunderstandings.
  • Escalate if Necessary: If the issue persists after your intervention, escalate it to higher management within the vendor's organization, always keeping a professional tone.
  • Review the Relationship: Once resolved, determine if the vendor remains a good long-term partner and whether changes are necessary in the future.

By remaining calm, being open in communication, and cooperating, you can usually reverse a bad situation without making it worse.

answered Feb 28 by Naira

edited Mar 6

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