How can you build a business case for system innovation?

1 Define the problem and the opportunity

The first step in building a business case for system innovation is to identify and articulate the problem you are trying to solve and the opportunity you are trying to seize. You need to explain why the current system is inadequate, inefficient, or obsolete, and how it affects your customers, stakeholders, and the organization. You also need to show how system innovation can address the problem and create value for all parties involved. You can use data, evidence, and examples to support your claims and demonstrate the urgency and relevance of your proposal.

2 Analyze the options and the benefits

The next step in building a business case for system innovation is to explore and evaluate the possible options and the benefits they can deliver. You need to compare the current system with the proposed system and highlight the differences and improvements. You also need to quantify and qualify the benefits of system innovation in terms of cost savings, revenue generation, customer satisfaction, competitive advantage, or other relevant metrics. You can use tools such as cost-benefit analysis, return on investment, or net present value to estimate the value of system innovation and justify your investment.

3 Assess the risks and the challenges

The third step in building a business case for system innovation is to acknowledge and address the risks and the challenges that may arise during or after the implementation of your proposal. You need to identify and prioritize the potential threats and obstacles that could hinder or harm your system innovation project and how you plan to mitigate or overcome them. You also need to anticipate and respond to the possible objections or concerns that your decision-makers may have and how you can alleviate or eliminate them. You can use tools such as SWOT analysis, risk matrix, or stakeholder analysis to assess the risks and the challenges of system innovation and prepare your contingency plans.

4 Present the solution and the action plan

The final step in building a business case for system innovation is to present your solution and your action plan in a clear, concise, and convincing manner. You need to summarize the key points of your proposal and emphasize the value proposition of system innovation. You also need to outline the steps, resources, timelines, and responsibilities involved in executing your proposal and achieving your objectives. You can use tools such as Gantt chart, project charter, or logic model to present your solution and your action plan for system innovation and secure your approval.