We can do it, but SHOULD we do it?
Susan Goebel
My clients get streamlined operations, boosted profits, and become exit-ready—without the stress. ?? Want the same results? Check out “How We Help Businesses Thrive” in my feature section below.
Congratulations! You have figured out how to do something. Perhaps it’s the way to solve one of your business challenges. Now what? Should you go ahead and do it? How do you evaluated this question? You create a business case.
In the beginning of a project you need to figure out your answers to a number of questions such as: what is your objective, what limitations do you have and how can you over come this challenge, what options are there? Can you support your claims?
When you create a business case, and different companies have different versions of this from formal to informal, written to verbal presentation. What types of information do you need to properly provide a case?
Preparing the business case involves an assessment of: the challenge, opportunities, benefits, risks and uncertainties, costs, timing, operational impact and necessary resources.
A business case should be brief, unlike a project proposal. The more direct and concise the better, stay on topic delivering only relevant costs and benefits ensuring you speak in a way the audience will understand.
There are lots of great free template on the web outlining the sections and format of a business case. One such example, from WorkFront, includes the sections below. What isn’t covered below is ensuring you have evaluated alternatives and outlined, in less detail, what these were and why they weren’t the optimal to solve the business challenge.
EXECUTIVE SUMMARY
FINANCE
Financial Appraisal and Sensitivity Analysis
PROJECT DEFINITION
Background Information
Business Objective
Benefits and Limitations
Option Identification and Selection
Scope, Impact, and Interdependencies
Outline Plan
Market Assessment
Risk Assessment
Project Approach
Purchasing Strategy
PROJECT ORGANISATION
Project Governance
Progress Reporting
I was recently interviewed by Dr. Dave with the Doctors Unbound Podcast to discuss the commercializing medical products process. You can find this interview on www.doctorsunbound.com - Episode #53.
If you are interested in learning more please visit: www.susangoebel.ca