Capturing the Value of Investment for Technology Spending

Facilitated by Frankie Jackson

Subject Matter Expert, CoSN

fjackson@cosn.org

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Capturing the Value of Investment (VOI) For Technology Spending

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Frankie Jackson�The process of capturing VOI in technology projects

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William Pierce�VOI: From “Identification to Evaluation”

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Diane Doersch

Show the Value of Your Investments

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Rob Dickson

Building the right story for your “why”

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IF EdTech Leaders Were in the Business Sector

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Frankie Jackson

Any Investment Would Be Grounded in Verifiable Methods

EdTech Leaders Make Far More Impactful Decisions

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Frankie Jackson

How do we measure value in student engagement or interest in STEAM?

How Do We Prove Students Are Learning

Qualitatively or Behaviorally?

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Frankie Jackson

How do we measure value in confidence or soft skills?

How Do We Measure Digital Equity and Equality?

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Frankie Jackson

How Do We Measure Digital Equity?

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Frankie Jackson

Equality means each student or group of students are given the same resources and opportunities.

Equity recognizes that each student has different circumstances and allocates resources and opportunities needed to reach an equal outcome.

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How do we sustain digital equity over time in the years to come?

The Process of Capturing VOI in Technology Projects

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Frankie Jackson

Value of Investment (VOI) is the task of analyzing the anticipated costs and related benefits of technology projects.

The Process of Capturing VOI in Technology Projects

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Frankie Jackson

VOI benefits include any dollar savings, efficiencies, revenue generation, and qualitative benefits that relate directly to the school system’s vision, mission, goals, and mandates.

Capturing the Value of Investment (VOI) Analysis is:

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Frankie Jackson

It also encompasses the Total Cost of Ownership (TCO) over the life of the project, including any quantifiable Return on Investment (ROI).

Just a Process

Capturing VOI Process Steps

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Frankie Jackson

Determine the Total Cost of Ownership.

• Account for everything, initial purchases, and subscriptions, for both direct and indirect costs.
• This includes all anticipated project costs over the life of the project.

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Capturing VOI Process Steps

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Frankie Jackson

Calculate any projected Return on Investment (ROI).

• Calculate anticipated costs saved.
• This may be savings in dollars, time, cost avoidance and revenue.
• Include efficiencies gained.
• Will annual budgets be reduced?
• Will productivity be improved?
• Will future costs be avoided?

Capturing VOI Process Steps

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Frankie Jackson

Measure Qualitative Benefits. List the strategic goals that will be positively affected by the proposed project.

• Assign a relative level of importance to help prioritize each technology investment. This is helpful if multiple projects are competing for funding.
• Identify the anticipated benefits aligned to the goals in measurable terms, if possible.
• These measures may include evidence of progress, estimated benefits, key performance indicators, specific action steps, metrics, impactful success stories, or explanations of value statements.
• Estimate every line item of resources that will need to be purchased or sustained, and consider the benefits.

Capturing VOI Process Steps

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Frankie Jackson

Consider project risks.

• This is your best intrinsic guess about the probability of success for the proposed technology project:
• Factoring in the scheduling, political climate, cost savings or avoidance, increased student equipment and achievement, safety, and security, along with any other factors.

Capturing VOI Process Steps

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Frankie Jackson

Build the Case for Planning and Purchasing the Technology Project.

Ideas About How the VOI Analysis Can Be Used

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Frankie Jackson

• Presentation to convince stakeholders to invest in the technology.
• Evaluation for the business office to determine the priority for funding projects.
• Help decide which project offers the best cost / benefit value in the scope of the total school system’s budget.
• Documentation to help articulate the purpose of the project at a more detailed level.
• Understand what it will take to sustain the project in the future when the time comes to refresh and support ongoing costs.

Old graphics to consider using

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VOI: From “Identification” to “Evaluation”

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William Pierce

1. Define: What is Your Why? (Total Cost of Ownership - Perceived)

• Examine: Measuring Impact (Return on Investment/Qualitative Benefits)

• Improve: Refocusing Toward Sustainability (Total Cost of Ownership - Reality/Build for Technology)

• Current “Realities” vs. Future Plans and Goals
• No “Magic Bullets” - Do you have the infrastructure required for success?

• What are the outcomes of your investment - How is it measured?
• Hardware - 1:1 Investments vs. Student Access
• Software - Purchases vs. Data Analytics
• How does this data create your “Elevator Speech”
• Educational Key! Understanding the impact on student achievement!

• Avoiding backsteps and stagnation
• Refocusing/Reviewing finances to improve successes and decrease waste
• “Robbing Peter to Pay Paul”
• Finding “untapped” funding sources
• Establishing a System for Sustainability (See the Sustainability Toolkit next)
• Maintaining your “WHY?”

• Implement: Putting Thought into Action

Show the Value of Your Investments

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Diane Doersch

• Digital Promise Sustainability Toolkit
• Quantify scalable practices
• Start your data collection NOW
• Show cost avoidance
• Document and communicate the qualitative wins to build your baseline
• VILs Portfolio Template

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Chief Information Officer

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Rob Dickson

• Based on a century-old factory model, our old process (instruction, content delivery, etc) excels in preparing children for a world that no longer exists.
• We must recognize that we often get so caught up in our own processes and traditions, we lose sight of why we used them in the first place.
• Digital Literacy and Citizenship are key - and where you show value
• Communicate Communicate Communicate: In the absence of knowledge, people make up their own

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Questions?

CoSN Announcements

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