An article in Law Tech. News (LTN), Vol. 16, Aug. 2009 at 34, by Steven Levy, offers 10 ideas for how information technology staff should work with lawyers. One of them is to pull the plug on “technology Vietnams.” As part of that determination, whether to proceed with a project or not, he urges going through a thorough return on investment (ROI) analysis (See my post of Oct. 22, 2008: ROI, not just software, with 17 references.).
More interesting to me, he advocates “repeat the ROI analysis regularly – quarterly is good – to see what’s changed.” I haven’t experienced ROI studies except before the start of a project, but it makes sense to take the temperature periodically on big, long-running projects. But then you need to be ready to cut your losses; “If the project is underwater (or trending so), walk away.”