Describe ROI and Gain Executive Support for Your Project
Have you had the dreadful experience of presenting a team project proposal to executive management, only to feel at the end that the importance of the proposal fell on deaf ears?
Passion for their work is a key element to most successful team leaders and group managers. Therefore, it is usually quite obvious to you that your groups work adds value to the overall organization. The sad truth: it is often not quite so clear to the very people you need to convince to support a proposal for additional resources. While difficult for all group leaders, it is unfortunately even more true for those teams in an organization that spend more in their budget than they make.
I have worked with a number of change leaders over the past 10 years. Because the area of gaining executive support is such a common concern, I interviewed several leaders in both private industry and the public sector to find out what they feel is necessary to a great proposal. One thing the executives agreed on is this, many presentations they have listened to fail to articulate the return on investment the company will realize as a result of taking action on the proposal.
Frequently, I see team managers fail to assess, describe and explain the ways in which the teams projects positively impact the overall profitability of the organization. And yet, many have no idea why their proposals for additional funding or support are turned down again and again.
Whether you are looking for additional funding or other resources, it is critical that you are able to communicate why senior management should support your group and not the dozens of others that also need support. One leader put it this way: to acquire the support you need, you must communicate why you should be given the support over someone else by showing clearly the benefits you bring to the table. It is critical that you are able to describe what the company will gain out of investing in your initiative.
Stumped about how to demonstrate a return on investment? You can start by engaging your team to look at each of your major priorities or goals and identifying the impact that achieving those goals will have on the organizations:
Cash Flow Overhead Errors Production cycle Customer satisfaction Client loyalty Ability to recruit top talent Employee engagement Employee satisfaction Brand awareness Stakeholder support Stockholder assurance Capability to meet government regulations Risk mitigation capabilities
If you are still finding it difficult to quantify your bottom line impact, seek out the counsel of senior managers that support your group to find out how they would define the value you bring to the table. It is critical to keep this a key priority and to understand what senior management needs to hear in their terms to understand the value you bring. By keeping this at the center of your entire presentation, you will find more and more support from senior management of your groups initiatives and projects.
Passion for their work is a key element to most successful team leaders and group managers. Therefore, it is usually quite obvious to you that your groups work adds value to the overall organization. The sad truth: it is often not quite so clear to the very people you need to convince to support a proposal for additional resources. While difficult for all group leaders, it is unfortunately even more true for those teams in an organization that spend more in their budget than they make.
I have worked with a number of change leaders over the past 10 years. Because the area of gaining executive support is such a common concern, I interviewed several leaders in both private industry and the public sector to find out what they feel is necessary to a great proposal. One thing the executives agreed on is this, many presentations they have listened to fail to articulate the return on investment the company will realize as a result of taking action on the proposal.
Frequently, I see team managers fail to assess, describe and explain the ways in which the teams projects positively impact the overall profitability of the organization. And yet, many have no idea why their proposals for additional funding or support are turned down again and again.
Whether you are looking for additional funding or other resources, it is critical that you are able to communicate why senior management should support your group and not the dozens of others that also need support. One leader put it this way: to acquire the support you need, you must communicate why you should be given the support over someone else by showing clearly the benefits you bring to the table. It is critical that you are able to describe what the company will gain out of investing in your initiative.
Stumped about how to demonstrate a return on investment? You can start by engaging your team to look at each of your major priorities or goals and identifying the impact that achieving those goals will have on the organizations:
Cash Flow Overhead Errors Production cycle Customer satisfaction Client loyalty Ability to recruit top talent Employee engagement Employee satisfaction Brand awareness Stakeholder support Stockholder assurance Capability to meet government regulations Risk mitigation capabilities
If you are still finding it difficult to quantify your bottom line impact, seek out the counsel of senior managers that support your group to find out how they would define the value you bring to the table. It is critical to keep this a key priority and to understand what senior management needs to hear in their terms to understand the value you bring. By keeping this at the center of your entire presentation, you will find more and more support from senior management of your groups initiatives and projects.
About the Author:
Wendy Mack is a professional advisor, educator, and author with a focus in leadership and communicating change. Contact Wendy at, or Download her free e-book, Transforming Anxiety into Energy at www.WendyMack.com.
By Dimas Prast
,
0 Response to "Describe ROI and Gain Executive Support for Your Project"
Post a Comment