Answer.

The evaluation of economic efficiency is the stage at which the business analyst justifies the feasibility of implementing the initiative. Typically, this involves drafting a business case with calculations of ROI (return on investment), IRR (internal rate of return), NPV (net present value), as well as conducting what-if scenario analysis.

Key metrics include:

Implementation and operational costs
Expected additional profit or cost reductions
Payback period
Impact on indirect indicators: customer satisfaction, risks, market share change

Special attention is also given to qualitative effects (e.g., improved competitiveness or reduced risk of failure).

Key features:

Use of financial project models
Consideration of both direct and indirect benefits/costs
Clear description of proposed success metrics

Tricky Questions.

Is it sufficient to calculate only ROI to justify the implementation of an IT solution?

No, it is not sufficient: ROI shows the ratio of benefit to cost in percentage terms, but does not account for the time value of money, the timing of benefits, and risk resilience. A combination of indicators must be used.

Are only economic parameters criteria for decision-making?

No, often an enterprise may invest in solutions that enhance safety, customer satisfaction, or minimize downtime, even if the direct financial impact is limited.

Should the business analyst conduct all efficiency calculations independently?

It is advisable to involve specialists (financial analysts) for complex models to take into account all nuances of taxes, loans, returns, and others.

Typical Mistakes and Anti-Patterns

Evaluating only "immediate" benefits while ignoring long-term factors
Insufficient analysis of market and non-economic effects
Basing calculations on unrealistic assumptions about income growth or cost reduction

Real-life Example

Negative Case:

The new system project was launched solely based on the calculation of personnel savings, without considering the inevitable costs of training and integration.

Pros:

Quick start
Minimization of initial costs

Cons:

Real savings were not achieved due to unaccounted expenses
Decline in service quality

Positive Case:

The analyst prepared a business case, compared three implementation scenarios, and included both direct and indirect effects (increased customer loyalty, reduced response time).