Let’s recap what steps we have completed to get to this
point. First, we defined
the problem that we are trying to solve.
Then, we took the opportunity to document
the actual process and where it was not working for us. Third, we used that process to redefine
the process through digital technologies and other investments.
The fourth and final step of building your digital roadmap
is to prioritize all of the opportunities identified. There are several ways to do this, so let’s
discuss a few options for you.
(Note: I would assess these
compared to your culture and need to determine best fit for you. You might be able to use a combination of the
below.)
Option #1: The “30, 60, 90, 120” day approach
This technique focuses on how quickly you can accomplish the
goals at hand. Your “day” buckets might
be different, depending on the need. For
instance, it might be 3 months, 6 months, 9 months, 1yr+ or 6 months, 1 year, 2
year, etc… This technique is good if you
what to focus on getting some quick wins for those easier opportunities and the
more investment intensive ones you be later in the roadmap.
Option #2: Return
Based
For this option, you write all of the opportunities in a
list and you have two columns to the listing – amount of pain you have today if
the option is not corrected (labeled “pain”) and the estimated amount of value
that could be delivered when corrected (labeled “value”). For the pain column, 1 is least amount of
pain and 10 is the most. For the value,
please do not get overly scientific on this.
We usually just identify if it is over a certain dollar value of
opportunity and place a check in the column.
Go through the listing as a group to get consensus on the
pain and value ratings. Then, sort the
“10s” for pain and those with the check to the top. Those at the top are the biggest
opportunities to get placed on your roadmap.
Then, discuss as a team where each one should be placed on the roadmap
(ideally with the top opportunities first, then the lower ranking ones in the
later years).
Option #3: Sequencing
This one is focused on instances where your opportunities
might logically need certain investments to be made first before making other
investments. For instance, you might need
to invest in a Contract Lifecycle system before you can do advanced analytics
on your contracts. Or, you might need a
P2P system in place before you implement RPA on the P2P process. This option can be used with option #2 above,
to help you sequence the roadmap of top opportunities.
Option #4: Heat Map
This option I find most used by consultants that I have
worked with. This is where you plot your
projects on a heat map to drive prioritization.
The X axis is value and the Y axis is difficulty of implementation. There are four quadrants made on the
map. Lower left – easy to implement, low
value. Upper left – hard to implement,
low value. Lower right – easy to
implement, high value. Upper right –
hard to implement, high value. Ideally,
you would consider the lower right as your quick wins that you would implement
first and your upper right those opportunities that would be placed in the
future. You can also look at the lower
left as potential quick wins.
These are the four options that I have used most
successfully in the past and I think the most common ways to approach
developing your roadmap. Most recently,
I used the sequencing and the return based option together to build a
roadmap. It seemed like a great balance
between driving value and sequencing where it was needed.
With that said, that wraps up how to build your digital roadmap.
In the coming weeks, I will be covering
what is next because there is still a lot to do! Topics will include now that you have the
roadmap, how do you gain approval for the investments and how to manage the
changes with your teams.
I would love to know your thoughts on the digital roadmap
series and if there are any other suggestions that you might have to share with
others. Please feel free to comment and
share.
Have a great week and shine on!!
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