Business Value Evaluation of IT Systems: Developing a Functional Reference Mode
2006 (English)In: Proceedings of the the Fourth Conference on Systems Engineering, 2006Conference paper (Refereed)
In this paper an approach to develop and refine a functional reference model for IT-systems is presented. Such reference models form a fundament on which to evaluate the business value of IT systems. The approach involves scrutinizing the functional reference model with respect to correctness, completeness, granularity and measurability. In the particular case of this study, the functional reference model represents systems functionality needed to support asset management processes in industries such as electric energy production and distribution. It is based on the IEC 61968 standard and its Interface Reference Model, IRM, which has been refined in the process described in the paper. The refinement included a comprehensive field study, interviewing experts in the field of asset management at a large European energy company, as well as vendors of asset management systems.A general method for evaluating IT investment scenarios is outlined in the paper and the refined functional reference model is an important component in this method. Creation of this IT evaluation method is an ongoing research project, where the functional reference model forms a central part. The purpose of the IT investment evaluation method is to give decision makers a tool to evaluate potential investment scenarios with respect to the value the investment would generate to the business. The first part of the method consists of evaluating the technical quality of the system scenarios. Technical quality is divided into functional and non-functional attributes, where the functional reference model is used for the functional assessment. The second part of method consists of establishing the business value based on the evaluation of the technical qualities. This paper thus focuses on the first part, and in particular the development of the functional reference model which is a central piece in the IT investment evaluation method.
Place, publisher, year, edition, pages
IdentifiersURN: urn:nbn:se:kth:diva-7536OAI: oai:DiVA.org:kth-7536DiVA: diva2:12591
QC 201006082007-10-032007-10-032010-06-08Bibliographically approved