Discuss the considerations a company must undertake to justify the implementation of technology. Please provide detailed answer with link to more info if available.
Implementation of a technology in an organization that might affect many work areas should be supported by a lot of justification such as:
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Question & Answer: Discuss the considerations a company must undertake to justify the implementation of technology…..
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- The amount of cost and effort that would be incurred in comparison to the expected benefit in terms of the revenue and profits (either immediate or long term) should be considered and justified before the implementation of the technology.
- Past trends regarding the implementation of the same technology and the results achieved by other companies through that technology should be considered.
- Alternatives should be analyzed for that technology and opportunity cost should be analyzed and considered before making the decision of implementing the technology.
- It can also be justified by putting forward the amount of manual effort that would be saved after the implementation of the new technology in the organization.