Return on Time Invested (ROTI) is a metric employed to assess the productivity and efficiency of time spent on a specific activity, project, or product. The concept is similar to return on investment (ROI), but instead of financial capital, ROTI measures the qualitative and quantitative outcomes derived from the time invested. The metric is relevant in contexts where time is a significant resource, including product management, personal productivity, business process optimization, and education or training evaluation. [1]
While the specific calculation of ROTI can vary depending on the context, a general formula can be expressed as: ROTI = Total value or Output obtained / Total time invested.[ citation needed ]
Some organizations use the ROTI method to evaluate meetings. [2]
ROTI is a metric used in product management to evaluate the efficiency of time allocation across various tasks and development phases. Product managers employ ROTI calculations to identify areas where time is being used effectively and those that may require optimization. This approach aids in resource allocation and productivity improvement efforts. [3]
Individuals use ROTI to enhance personal productivity by evaluating how their time is spent on different activities. This helps in prioritizing tasks that offer higher returns on time invested and minimizing time spent on low-value activities. Media outlets like Inc. frequently offer tips on maximizing personal productivity, often referencing the principles behind ROTI. [4]
Organizations leverage ROTI to improve overall efficiency by analyzing how employee time contributes to business goals. By understanding the ROTI of different processes and functions, organizations can streamline operations and allocate resources more effectively. Reports in Harvard Business Review have highlighted case studies where businesses improved their efficiency through better time management and ROTI assessments. [5] [6]
In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers. Meanwhile, supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner.
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
Marketing management is the strategic organizational discipline that focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of marketing resources and activities. Compare marketology, which Aghazadeh defines in terms of "recognizing, generating and disseminating market insight to ensure better market-related decisions".
Managerial economics is a branch of economics involving the application of economic methods in the organizational decision-making process. Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. It guides managers in making decisions relating to the company's customers, competitors, suppliers, and internal operations.
Agile software development is an umbrella term for approaches to developing software that reflect the values and principles agreed upon by The Agile Alliance, a group of 17 software practitioners in 2001. As documented in their Manifesto for Agile Software Development the practitioners value:
Operations management is concerned with designing and controlling the production of goods and services, ensuring that businesses are efficient in using resources to meet customer requirements.
A product manager (PM) is a professional role that is responsible for the development of products for an organization, known as the practice of product management. Product managers own the product strategy behind a product, specify its functional requirements, and manage feature releases. Product managers coordinate work done by many other functions, and are ultimately responsible for product outcomes.
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
Scrum is an agile team collaboration framework commonly used in software development and other industries.
Return on marketing investment (ROMI) is the contribution to profit attributable to marketing, divided by the marketing 'invested' or risked. ROMI is not like the other 'return-on-investment' (ROI) metrics because marketing is not the same kind of investment. Instead of money that is 'tied' up in plants and inventories, marketing funds are typically 'risked'. Marketing spending is typically expensed in the current period.
Programming productivity describes the degree of the ability of individual programmers or development teams to build and evolve software systems. Productivity traditionally refers to the ratio between the quantity of software produced and the cost spent for it. Here the delicacy lies in finding a reasonable way to define software quantity.
Production is the process of combining various inputs, both material and immaterial in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption(or consumer) theory of economics.
Sales effectiveness refers to the ability of a company's sales professionals to “win” at each stage of the customer's buying process, and ultimately earn the business on the right terms and in the right timeframe. Improving sales effectiveness is not just a sales function issue; it's a company issue, as it requires collaboration between sales and marketing to understand what is working and not working, and continuous improvement of the knowledge, messages, skills, and strategies that sales people apply as they work sales opportunities.
A glossary of terms relating to project management and consulting.
Return on investment (ROI) or return on costs (ROC) is the ratio between net income and investment. A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments. In economic terms, it is one way of relating profits to capital invested.
Lean IT is the extension of lean manufacturing and lean services principles to the development and management of information technology (IT) products and services. Its central concern, applied in the context of IT, is the elimination of waste, where waste is work that adds no value to a product or service.
In a business context, operational efficiency is a measurement of resource allocation and can be defined as the ratio between an output gained from the business and an input to run a business operation. When improving operational efficiency, the output to input ratio improves.
A chief revenue officer (CRO) is a corporate officer (executive) responsible for all revenue generation processes in an organization. In this role, a CRO is accountable for driving better integration and alignment between all revenue-related functions, including marketing, sales, customer support, pricing, and revenue management.
The meeting science is an emerging scientific discipline dedicated to the study, analysis, and optimization of professional meetings. Its primary goal is to enhance the effectiveness, productivity, and satisfaction of participants by applying scientific methods and principles.
| By type of organization | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| By focus, within an organization |
| ||||||||||||||||||
| Positions | |||||||||||||||||||
| Methods, approaches | |||||||||||||||||||
| Skills, activities | |||||||||||||||||||
| Pioneers, scholars | |||||||||||||||||||
| Education | |||||||||||||||||||
| Degrees | |||||||||||||||||||
| Other |
| ||||||||||||||||||
