Projects are designed to deliver outcomes. Create a project for your business and image that you are paying a contractor to do the work on the project. In order to ensure that you and the contractor agree that the project was done properly, list three specific and measurable that must be completed before you will pay the vendor such as:

• The floor must be level as measured by a level
• The job must be completed in three weeks
• The 25 people must be able to sit down at one time with room to walk around such that having no one will have to move their body position or get up to make room.

Return on investment.

Return on investment = (gain from project - cost of project)/(Cost of the project).

Another way to think of ROI is Net Profit / Total Investment * 100.

When you calculate ROI it must be for a specific time period and must covert to the same units. For example, you may need to convert manhours to dollars so that all units match.

For your project, define what you are looking for the ROI to calculate. For example Net gain in profit in six months from adding a new room to the restaurant with 24 new tables. List at least one thing that generates additional profit from the project, and at least one thing that is an investment (such as manpower, materials, or lost income) for the project.

Format

• Project
  • Project Name
  • Project Outcome
  • Metric 1
  • Metric 2
  • Metric 3
• ROI
  • Return: (ex. Money, customers, reduced staff...)
  • Investment: (ex. time, materials, lost income, money)