Finance

Maximising Project Value

Every business project is profit oriented and returns on capital employed stand as the main goal. That is why I consider that Finance perspective should focus on the cost control to ensure that in the long run income is more than the input. In a business process, the steps of what to do are provided to ensure that the end goal of profit making is achieved. It works with a target of minimizing cost so as to maximize returns. The ways of cost minimizing are wage cutting, reduction of advertising cost and reduction of employees.This is the level of deployment of the best practices an organization has defined for its Project Management process (Galliers amp. Leidner 2003). A lot of collaborative tools have to be designed in order to reach the recommended standard of Capability Maturity Model Integrated, a best practice framework for businesses dedicated to product development (Galliers amp. Leidner 2003). This part work with a clear set framework that covers areas like objectives, measures, target, and initiative. This gives everyone in the system a guide on what to do and the target goal is always indicated. For this case of study, I can bring out the best framework of a balanced scorecard as below.A balanced scorecard is used to evaluate the performance and future improvements of an organization. Scorecard signifies quantified performance measures in the process, financial performance, internal process, customers and learning, and growth. Balanced is an indicator showing if the system is balanced between short-term objectives and long-term objectives, financial measures and non-financial measures lagging indicators and leading indicators and internal performance and external performance perspectives (Goodpasture 2010).

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