ASSESSMENT OF THE ECONOMIC EFFECT OF IMPLEMENTING MANAGEMENT INFORMATION SYSTEMS: INDICATORS OF ECONOMIC EFFECT

Keywords: information systems, information technologies, efficiency indicators, efficiency index, efficiency criteria

Abstract

Due to the intensive development of the market of information systems and IT technologies, constant investments do not allow to obtain a rapid economic effect. There are different ways to evaluate the effectiveness of projects from the implementation of management information systems. But among all the diversity, there are basically two approaches to evaluation: the financial approach, which calculates the financial return from the project, and the mixed approach, which includes both financial and non-financial components of analysis. Their main difference is that the financial approach involves assessing only those effects that can be estimated in monetary terms and only in the first approximation. That is, evaluate the immediate effect. The degree of detail of success factors depends exclusively on the specifics of the company and on the level at which monitoring and evaluation of their implementation and, consequently, the achievement of the goal, are carried out. A set of key performance indicators is being developed to assess the performance of success factors. These indicators quantify the success factors; they can be set formulas or other methods of calculation. The development of a balanced scorecard is the development of a system of interrelated goals, critical success factors and key performance indicators. The purpose of the study is to identify and reveal the indicators for assessing the economic effect of the implementation of management information systems and IT technologies. The development of a balanced scorecard is the development of a system of interrelated goals, critical success factors and key performance indicators. The article considers the indicators of the economic effect of the implementation of management information systems (MIS) and information technology (IT). A set of indicators, which determines the efficiency index of information systems, efficiency criteria, is presented. Ways to increase the effectiveness of MIS are substantiated. Recommendations for the development of a balanced system of indicators are given, which consists in the development of a system of interrelated goals, critical success factors and key performance indicators. Methodologies and their main components are proposed to assess the effect of the implementation of the information system, which will determine how well the proposed project meets the company's goals.

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Published
2021-08-31
How to Cite
Tereshchenko, L. (2021). ASSESSMENT OF THE ECONOMIC EFFECT OF IMPLEMENTING MANAGEMENT INFORMATION SYSTEMS: INDICATORS OF ECONOMIC EFFECT. Economy and Society, (30). https://doi.org/10.32782/2524-0072/2021-30-7
Section
ECONOMICS