Gartner introduced the concept of value on investment,
driven by its observation that in the Knowledge Economy, intangible
assets such as knowledge, networks, collaborations, and communities
of practice are the source of most new products, services, and experiences.
Consequently, managing and leveraging these so-called intangible
assets will become an imperative for all kinds of organizations.
Business and governmental organizations have been early adopters
of these concepts. Gartner (2001) predicts that by 2005, 50%
of Fortune 1000 companies will identify an owner for workplace initiatives,
formally track and manage intangible assets, and measure investment
vs. value creation on these initiatives (0.6 probability).
Other learning enterprises are likely to be following close behind.
The intangibles tracked by VOI are roughly the same
elements that are needed to change enterprises e-knowledge
ecology. This suggests that most organizations can turn their existing
processes for developing ICT infrastructure into a far more effective
change agent by expanding the measurement standards from ROI to
VOI. The following table compares the relationship between ROI and
ROI is still an important component of VOI. In some
tactical applications, ROI may be sufficient justification, by itself,
to proceed with a technology investment. Consider the following
examples from higher education settings: