Today, there are three major pain points and needs in the business world:
- The need for a “how-to” method to effectively identify, forecast, quantify and measure the benefits (tangible and intangible) of new initiatives and existing services, in economic and strategic terms; and in a structured, objective, and compelling way.
The need for a “how-to” method to minimize Stakeholders’ resistance to change, for new initiatives; in order to enable the expected benefits during an initiative’s implementation, and sustain the benefits throughout the operational life-cycle of the assets and services provided by the initiative.
- The need for a “how-to” approach to go beyond a Business Case, and enable all the Stakeholders - including the initiative Benefactors (i.e., IT development and operational teams) and the Beneficiaries (i.e., business areas)— to effectively communicate and collaborate in the realization and sustainment of the benefits forecasted with new initiatives.
The EVCTM Framework v3 is the solution to these needs.
ABOUT THE EVC FRAMEWORK
EVCTM means ENTERPRISE VALUE CREATION.
EVC is a FRAMEWORK that ENABLES the Enterprise Value Creation of new initiatives, and existing assets and services; by providing EVC Principles, and EVC Enabling Tools (models, methods and best practices) that can be adopted and adapted for all areas and departments of an enterprise.
Designed for the digital age, EVC v3 provides the “how-to”:
- Effectively identify and define the NEEDS of our internal and external customers, and needs of all business areas.
- Determine the risk for each new initiative- a key requirement for implementing a bimodal strategy.
- Forecast the TANGIBLE and INTANGIBLE benefits of innovation and transformation initiatives.
- Define the STRATEGYM for each initiative— including how the initiative will enable or be aligned with corporate strategic objectives; and what is the best initiative strategy, based on strategic scenarios, and the best scope and strategy of implementation.
- Validate and MEASURE all of the economic and strategic benefits for any initiative.
- Create a dynamic culture of proactive COLLABORATION and effective COMMUNICATION within and between the IT teams, and with the business areas, before projects are approved, to ensure that the forecasted benefits and expected ROI of every initiative is realized; and projects are successful.
- Identify and minimize the resistance to change, in order to define the necessary CHANGE MANAGEMENT activities before a project is approved; increasing the chances of a project or new service success.
- Identify the necessary STAKEHOLDERS and METRICS (i.e., SLAs and KPIs) for each project and initiative, to enable and sustain the expected benefits of each new asset and service.
AS A CULTURE
Since 1992 hundreds of enterprises, and thousands of business and technology professionals and managers around the world, have been using EVC. Version 3 of the EVC Framework was released in 2016; and includes enhancements to meet the new requirements of the digital age, and to complement other frameworks and standards that emphasize the need to better assess and measure value, in order to increase the probability of projects’ success.
EVC can be used to identify (before implementation), enable (during implementation) and sustain (after implementation) the value of an individual project, solution, or service; or a complete portfolio of initiatives; and/or to define the strategic plan of any business or technology initiative.