What is the cost of a delay in software investment?

Cost Management

As business owners and project sponsors, we want to know the cost of software implementation as soon as possible. We tend to optimise the cost of implementation and aim to complete the project within an agreed budget.

But the bigger question is, how much are we losing by delaying the implementation? Whether it is due to lost opportunity or risk exposure due to competition, security, or regulations.

We are used to reporting the CAPEX budget for a given Financial year (FY) but ignore reporting the potential loss due to delaying the CAPEX project.

Maybe we should start reporting on the cost of a delay in software investment in each FY report!