This paper presents a set of factors to consider when conducting investment evaluations for small scale IT systems. These factors have been derived by combining information from an extensive literature review, a single case study and an external expert. The literature review uses prior research on evaluation of large scale investments to inform and constrain the single case study. The single case study adds depth to the analysis by combining technical and operational perspectives from senior management, middle management and the general workforce. Ultimately an expert was consulted to evaluate the generalizability of the findings from the single case study, before the final list of factors was compiled. These factors should not be applied formulaically, as one of the main findings of this study is the diversity and complexity of small scale IT projects, preventing the application of general models. Instead, decision makers are encouraged to use these factors as a complement to their own experience, and to maintain close communication with potential stakeholders throughout the decision process.

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This paper addresses the tension between benefits of centralized data control against the benefits of decentralized control at the level of the business unit. Centralized data control provides the benefit of uniform standards whereas business unit data control grants flexibility to react to rapidly changing environments. Many data standardization efforts fail because they do not fully take into account the value of flexibility and ownership incentives. We use a real options based framework and the theory of incomplete contracts to derive propositions about the optimal level of data standardization across the enterprise. Applications of the propositions are illustrated with case vignettes. The paper makes two main contributions. First, the approach defines formally how incentive structures influence ownership of the option value or value of flexibility, which is an intangible information asset. Second the derived propositions would help senior management to more precisely consider aligning incentives in data standardization exercises.

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