What is a key component of the Business Value Framework?

A key component of the Business Value Framework is the Business Case and ROI. This element is crucial because it helps organizations articulate the financial and strategic benefits of their technology investments, particularly in the context of artificial intelligence and related initiatives.

By developing a comprehensive business case, organizations can assess the potential return on investment for their projects. This includes not just the initial costs but also the expected benefits over time, such as increased efficiency, cost reductions, and revenue growth. The ROI helps stakeholders understand the value generated from investments and supports informed decision-making.

Establishing a clear business case and calculating ROI provides a structure for evaluating success, ensuring that projects align with strategic business goals. This element is vital for justifying investments and securing necessary funding, especially in the rapidly evolving landscape of AI where demonstrating value is essential for long-term sustainability and growth.