Too many test automation projects have ill-defined or completely unstated goals. Often, they are less like projects and more like approved budget requests. When goals are unclear, there is no method to measure success or failure. The inevitable results are wasted time, misspent money, and organizational reluctance to try again. Calculating ROI starts with a defined business goal and the discipline to track and measure the operational impact in financial terms. We outline strategies to guide effective calculation of ROI for test automation.