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I
created and improved at least 21 projects in the year of 1999 at my work. I want
to quantify these into dollar value but some of them are involved many areas or
I don't know how to measure them. Where can I get a guide line or book?
Signed,
Quantifier
Dear Quantifier:
Congratulations on your 21 completed projects. Reducing project work to dollars in most cases is a job specific matter of accounting. Parts and labor for your car repair have been standardized so that the service manager of your dealership can tell what they will cost you before the job is started.
This is not so in most one of a kind projects within the workplace. There often is no tangible product. Rather information is the product. Does a project cut costs in supplies purchased, production, and/or distribution? How is the quality of the work done evaluated? How is the labor cost assessed when those engaged in the project also have been working in multitasking? What is the pay off once the project is complete?
For tips on measuring cost benefits, I recommend that you contact the American Society for Quality, based in Milwaukee. This is the organization assigned to handle the Malcolm Baldrige National Quality Awards. Also contact the W. Edwards Deming Center for Quality Management at Columbia University Graduate School of Business. John Whitney was its director several years ago and wrote The Trust Factor. The U.S. Department of Labor likely has material on this topic. Call them.
I expect that fixing dollars to projects could take you more time than it took to do the projects. I know numbers can give some evidence of your worth to your organization. So lots of ruck! Please send us a note on what you do to assess what you did.
WEGO sees adding value more as a collaborative than an individual effort.
Bill Gorden