Taking BI from CFO to BVA

A. 1,500 CIO's tell us that only 55% of their BI investments are working
B. In 2008 they spent over $ 8.8 billion on BI, and they wasted almost $4 billion
THEY ALL WANT TO KNOW, along with Gartner, Forrester, AMR and Business Week
WHY
They do not achieve 'Business Value Expectations'
WHAT WE FOUND
92% of BI Projects are declared successful in Week 1 of Go-Live
55% remain successful by Week 8
WHAT HAPPENED
100% of Projects measure Cost, Time and Scope
92%  Achieve all three goals - thus they declare the project a success
55%  Realize they did not meet business value in 8 weeks, because it was never measured or audited
BECAUSE
We manage our BW projects by the CFO & PMP rules
SO
- we make weekly reports on time,
- we make weekly reports on cost
- we make weekly reports on budgets
WE
- meet all cost, resource and budget obligations
HOWEVER- Throughout the end-to-end lifecycle, i.e.
1. Product selection process
2. Steering committee decisions
3. Busines Owner Approval
4. Project Processes
5. PMP guidance
6. Weekly reports
7. Monthly steering committee meetings
8. Integration tests
9. User Acceptance tests
10. Cutover Planning
11. Go Live
12. Go Live celebrations
***** WE NEVER CHECK FOR Business Value Attainment or Business Success *****
THUS
we  collectively lost $4 billiuon, or 45% of our BI investments in 2008 alone
WHAT CAN WE DO
As a project process:-
0. Don't just measure Cost, Time and Resources
1. Start measuring BVA with the same vigor and frequency
At time of Contract negotiating
2. Place a BVA Audit process, and
3. Place clear BVA conditions
Just like you currently for Cost, Respource and Budgets
As a Weekly Status report
4. Add a column to check BVA for all selected deliverables
At time of UAT
5. Measure BVA for each report planned for delivery
At time of Go-Live
Measure success not by Cost, time and resource values, as these are not BVA but CFO
6. Measure them by BVA Value Audits
    4.1 How many reports can business use TODAY without any changes whatsoever 
         4.1.1 Business can do this audit in under 4 days with a BVA owner
         This measure represents SUCCESS and USER SATISFACTION
    6.2 All the other reports represent degrees of failure
         This measure represents FAILURE or USER DISSATISFACTION

CHANGE YOUR LATITUDE when DEFINING SUCCESS