Quantifying the value of IT-investments
Quantifying the value of IT-investments
复制标题
量化 IT 投资的价值
DOI：
10.1016/j.scico.2004.08.004
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发表时间：
2005
期刊：
影响因子：
--
通讯作者：
C. Verhoef
中科院分区：
文献类型：
--
作者：
C. Verhoef
我们描述了一种量化软件系统投资价值的方法。为此，我们采用经典的风险调整折现现金流模型，并将其应用于信息技术领域。这就产生了一种基于场景的方法，该方法包含了两种可能对it评估产生重大影响的特定于it的风险。它们是需求蠕变和时间压缩。为了考虑it项目失败的风险和超支风险，我们提出了信息技术加权平均成本（WACIT）。WACIT调整了众所周知的加权平均资本成本，通常用于贴现现金流模型。我们提出了几种近似WACIT的方法，范围从特定于投资的比率到从定量it投资组合分析推断的（公司范围的）比率。我们通过一个公开的例子说明了我们的量化it投资管理方法。对于各种风险情景，我们使用这个例子计算了对公司股价的影响，标准经济指标，如NPV， IRR， PBP， ROI， RAROC等，以便掌握对信息技术的评估-当今最大的生产要素。
We described a method to quantify the value of investments in software systems. For that, we adopted the classical risk-adjusted discounted cash flow model and geared it towards the field of information technology. This resulted in a scenario-based approach incorporating two IT-specific risks that can substantially influence IT-appraisals. They are requirements creep and time compression. To account for the risk of failed IT-projects and overrun risks we proposed the Weighted Average Cost of Information Technology (WACIT). WACIT adjusts the well-known Weighted Average Cost of Capital, commonly used in discounted cash flow models. We proposed several methods to approximate WACIT ranging from an investment-specific rate to a (company-wide) one inferred from a quantitative IT-portfolio analysis. We illustrated our quantitative IT-investment management approach by way of a published example. For various risk-scenarios, we calculated using this example the impact on the firm’s share price, standard economic indicators like NPV, IRR, PBP, ROI, RAROC, and more, in order to come to grips with the appraisal of information technology—the largest production factor of today.