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What went wrong with the TUFS investment, and what can be done to prevent these problems in the future?
The system was implemented two years ago, but it did not function properly as some specific problems appeared which required additional costs. Now, the system is ready to work in the hole way, but the managers still insist on specific delivery of the old reports, even though they may be considered on the Internet any time they need. Moreover, they still insist on old procedures that hamper the system’s proper function. Furthermore, if the system is used, it is applied at the last moments, as the double-check procedure, not as the initial and the only possible solution. The system is not used in the way it had been designed for, so the results of its work are so poor and there is no expected benefit. The main staff of the system is technicians, not the underwriters, so they may be unaware of some particular issues. The collaboration between these departments, constructive communication, and responsive work may bring some benefits. To avoid the same problems in the future, it is necessary to review the problems the system experiences and make all possible to avoid those and misunderstandings connected with them.
What does Northern need to do to realize the benefits that were projected for TUFS?
To realize the benefits projected for TUFS, Northern Insurance should understand that value realization is a time and effort consuming process. Moreover, to deliver the benefit to the company, the technology must be extensively used and the measurement of the process should be the final stage for benefit consideration. Thus, to understand the benefits of the TUFS system, Northern Insurance should conduct research and create a plan devoted to value-realization plan and involves all IT projects the company works with. Secondly, it should analyze the outcomes and compare and contrast those with the expected results. Third, the results of this analysis should be the basis for the identification and elimination of the root causes of those problems. Forth, it is necessary to conduct an assessment of the realization of the benefit at all levels. Fifth, search for new opportunities and use those for leverage value.
How can they measure these benefits?
The improper understanding of IT has failed to measure it accordingly. Here are some pieces of advice on how Northern Insurance should measure the benefits of the TUFS system. Financial value is not the only means which should be considered while IT value measurement. IT Value is a subjective assessment that shows whether the system worth its costs and whether it can be tied to the business model or not. To measure the benefit of the TUFS system, it is important to check the expected value and compare and contrast it to the actual value. If the desired result is not achieved, it is necessary to check the problems and after their solution provides a comparison one more time. Thus, to measure the benefits of the system, it is important to consider the existing problems, create a plan where the expected value should be identified, and only when the system works extensively it is possible to conduct comparison and contrast analysis and make conclusions.
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