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Applying the FAP Model to an ICT Project within a Professional Association

In: The FAP Model and Its Application in the Appraisal of ICT Projects

Author

Listed:
  • Frank Lefley

    (University of Hradec Králové)

Abstract

The initial evaluation of AT projects, such as AMT and IT, is proving to be extremely difficult, as existing financial models, such as the NPV and the IRR, fail to capture many of the strategic benefits.1 The literature shows that some companies now tend to use a greater number of appraisal techniques than in the past, but there is no consensus on the actual combination.2 The literature also shows that individual appraisal models on their own are now inappropriate and a more hybrid approach is required, one that includes both economic and strategic dimensions of choice.3 As a result of the perceived failure of some of the traditional methods of capital investment appraisal, managers sometimes base their decisions on ‘acts of faith’ or, as some researchers report, use less sophisticated financial models to evaluate what must be regarded as sophisticated IT projects.4

Suggested Citation

  • Frank Lefley, 2015. "Applying the FAP Model to an ICT Project within a Professional Association," Palgrave Macmillan Books, in: The FAP Model and Its Application in the Appraisal of ICT Projects, chapter 11, pages 152-181, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-44352-6_11
    DOI: 10.1057/9781137443526_11
    as

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