4 Factors in Make-or-Buy Decision for Projects

4 Factors in Make-or-Buy Decisions

 

When you are about to make make-or-buy decisions, here are some of the factors that you need to make.

 

#1 Impact

You need to consider the impact on cost, time or quality. For instance, if current personnel must be retrained for services requiring a new skill set, it may be less expensive to outsource those services.

 

 

#2 Ongoing need

If the organisation will continue to need a specific skill set– even for future, unrelated projects – it may be a worthwhile investment to train current personnel to perform that service.

Make-or-buy decision

#3 Learning curve

While it may make financial sense to develop an in-house solution, there may not be enough time to train personnel and implement the necessary policies and equipment to produce that solution.

 

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#4 Cost-effectiveness

If the required resources are readily available internally, organisations will usually use them. However, if the project involves technology, skills, materials, or resources that are beyond the organization ‘ s capabilities, it may be cost-effective to hire outside help.

 

 

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Adeniyi Salau

Adeniyi Salau Scrum Master Certified , CCNA R&S , BeingCert and Scrum Certified Digital Marketing Professional, CEP, MOS, MCP, CSCU (Project 2016), Microsoft Certified Security and Networking Associate is a Google and Beingcert Certified Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.

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