Measuring the Return on Investment in a Risk Management Information System

Before investing in a Risk Management Information System (RMIS), estimating the return on investment (ROI) is an important step in the decision making process. Whether it’s your first RMIS or you’re contemplating switching systems, the costs of these system can seem very high. Determining the ROI will help quantify the business case for the investment. ROI is a common metric used for evaluating, approving and measuring the success of any significant investment, including software purchases. Research indicates that many companies do not measure the ROI for software investments, but the evidence supports the benefit in doing so. There are many ways to calculate the ROI, but the basic formula i

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