Abstract:Recently, it is inevitable that businesses invest in many information system (IS) projects in order to gain a competitive advantage within the internal industry and global environment. The important point is the selection of the appropriate IS environment, hence the optimal IS investment methods with respect to changing technological needs. In this respect, both empirical and conceptual studies are reviewed to identify the relevant IS/IT investment methods. After an extensive literature review, 51 relevant articles are identifi ed. The IS/IT investment methods studied in these articles are classifi ed and examined within the three categories: fi nancial, non-fi nancial, and hybrid. The results reveal that most of studies focus on a mixed usage of fi nancial and non-fi nancial methods called hybrid methods, whereas fi nancial methods are used more frequently when compared to non-fi nancial methods during the selected research period. On the other hand, the usage of pure fi nancial methods decreases in recent years, while the usage of hybrid and non-fi nancial methods increases in the same period.