One of the major challenges we have in justifying Web 2.0 technologies is that showing a concrete ROI is often unrealistic. The value of these technologies are in their productivity gains not in the costs saved. Now relie may be at hand.
Mark Shell the CIO of the Freedom Federal Credit Union says he's developed a solution. He's created a concept called "Value Based Portfolio Management". The model allows systems to based on attributes of resource, financial and quality (RFQ). Each attribute is rated on a scale of 1-10. The values are multiplied together a metric is reached and then analyzed.
One of the things that I liked about Mark's approach is his measure of value eschews wishy-washy approximations of what's delivered to the enterprise. He ties hard number, such as improvement in quality of service and customer retention rate, as a means of measuring the value of a project.
But rather than regurgitate the whole methodology download his e-book on the matter by clicking here and let me know what you think.