In the framework of this model, consider the benefits (item 1 in Figure 4.2-1) of an IT project to include all of its potential sources of cash, such as sales from a Web site or reductions in the cost of labor. Other examples might include increased productivity that allows you to avoid hiring additional call center employees. Accurately calculating a project's benefit stream involves getting a sense of who your potential customers—both internal and external—are and how effective the technology you're using is likely to be over time. And remember that while the benefit stream of an IT initiative is finite, sometimes it is quite short and sometimes very long.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.