Maximum Return-The Ultimate On-Time, On-Budget,
Results-Driven Project Planning Guide
by Patrick J. Gregory
249 pages;Hard-cover; ISBN 0-9672776-3-9; $55.00
Maximum Return offers
a complete step-by-step approach for analyzing project decisions and preparing business
cases. It defines an approach for ROI/cost-benefit analysis & business case development that will significantly reduce
the frustration experienced within your company. At the heart of this book is a
comprehensive set of templates and instructions designed specifically for project
management offices & teams,
analysts and managers.
Written in mostly non-financial language, project managers (and the individuals
"volunteered" to prepare the business cases) will appreciate step-by-step
guidance on how to thoroughly analyze a project proposal. This analysis is essential not
only to convince management that the project idea is a good one but to validate for the
project team (and sponsor) that the project is also a good strategic fit for the company.
Part of determining whether a project is a
good strategic fit for the company is assessing whether the project adds value to the
shareholders. Preparing a quality financial analysis remains the most critical part of the
business case because, in most cases, a project will not get approved if it doesn't meet
the company's approval criteria for acceptable financial performance. The book's
instructions for doing a financial analysis assume that the user has little or no
financial background. Obviously, there will be areas where greater financial expertise is
required, but not to worry. The book will tell you when you need to seek assistance and
from whom to get it. The author acknowledges the state of reality in most companies--that
most (if not all) project ideas are developed by non-financial people. Often times, it is
these same people who are then charged with preparing a business case, cost
justification or ROI evaluation so that management may approve funding for the project. Some project teams
will use an experienced financial analyst to prepare the cost justification, but many do
not.
Although non-financial people will truly
welcome the "user-friendly" advice on how to prepare a quality financial
analysis and business case, this book will appeal to the finance community too. Finance
personnel will want to read it so they can gain a greater appreciation of how to improve
the working relationships with their clients who are involved with project development.
The finance organization will also see that the material in the book provides an excellent
"structure" for creating a company-wide process for analyzing projects
and preparing business cases. Also, senior management and internal auditing will welcome
the improved controls offered by the book and implemented by the finance organization.
Finally, even though this book is titled
Maximum
Return, it stresses that returns are not just limited to financial returns.
They include many non-financial elements as well. The book greatly emphasizes the
people-side of project planning such as doing an organizational impact analysis and a
project team member analysis. These activities all contribute to yielding greater
non-financial returns such as improved teamwork, better communication and higher morale.
Although difficult to quantify, they are generally acknowledged to lead to greater
efficiency and more profits for the company in the medium and long term.
The end result of following this book's
approach is the creation of a professional business case that will enjoy a far smoother
ride toward approval and ultimate success in implementation, which is what senior
management and shareholders care about most.
Order Maximum Return:
Getting the highest financial return on
your invested capital