Final answer:
The benefits of an IT initiative can be measured in terms of cost, financial outcomes, business process performance, and information capital. These metrics help determine the success and viability of the project.
Step-by-step explanation:
The benefits from an IT initiative must be measurable in a variety of terms to accurately assess its impact and viability. These terms include:
- Cost: This refers to what is given up in terms of money, effort, and other sacrifices to gain something else.
- Financial: This pertains to the ability of the initiative to meet its financial objectives and return on investment.
- Business process performance: This involves measuring the efficiency and effectiveness of business processes pre- and post-implementation of the IT initiative.
- Information capital: As capital includes intellectual discoveries, the IT initiative should also be measured in terms of how it enhances the company's output through improved information handling and storage.
Each of these measures plays a crucial role in determining the overall success and viability of an IT project, helping decision-makers weigh the benefits against the costs.