How to write "Business Case"

-
A business case provides plan & justification for undertaking a project, program or portfolio. It evaluates the objective, problem, possible solution, benefit, cost and risk of alternative options. A compelling business case adequately captures both the quantifiable and non-quantifiable characteristics of a proposed project.

It is often presented in a well-structured written document, but may also come in the form of a short verbal agreement or presentation.

Business cases are created to help decision-makers ensure that:
  • The proposed initiative will have value and relative priority compared to alternative initiatives based on the objectives and expected benefits laid out in the business case.
  • the performance indicators found in the business case are identified to be used for the proactive realization of the business and behavioral change.

Business Case should contain:
  1. Executive Summary (your introduction and services)
  2. Business objective
  3. Current business process
  4. Problem statement
  5. Proposed solution (along with alternative approach)
  6. Project scope
  7. Assumptions
  8. Data model (optional)
  9. Use case example (optional)
  10. Benefits (or opportunities)
  11. Deliveries plan
  12. Team structure
  13. Finance
  14. Analysis of potential impact on business & staff
  15. Analysis of potential impact on technology and infrastructure
  16. Performance measure KPI (if needed)
  17. Business case summary & conclusion

Note: you can add or skip based on business objective and project requirement.

The business case should be designed to be:
  • Adaptable – tailored to the size and risk of the proposal
  • Consistent – the same basic business issues are addressed by every project
  • Business-oriented – concerned with business capabilities and impact, rather than having a technical focus
  • Comprehensive – includes all factors relevant to a complete evaluation
  • Understandable – the contents are clearly relevant, logical and, although demanding, are simple to complete and evaluate
  • Measurable – all key aspects can be quantified so their achievement can be tracked and measured
  • Transparent – key elements can be justified directly
  • Accountable – accountability and commitments for the delivery of benefits and management of costs are clear.
So basically you need to think about following, why creating and maintaining business case:
  • Structure: Provide guidelines to follow.
  • Desirable: Determine if this product is really needed (benefits v. dis-benefits).
  • Viable: Is it possible to do it? Are we capable of delivering?
  • Achievable: Is it possible to deliver the benefit?
  • Worth the continued investment: If not, then the project must be stopped.

Comments

Post a Comment

Popular posts from this blog

Business Analysis Core Concept Model™ (BACCM™)

-
Image
The Business Analysis Core Concept Model™ (BACCM™)  defines business analysis as “the practice of enabling change in an enterprise by defining needs and recommending solutions that deliver value to stakeholders”. The purpose of BACCM ™  is to provide a common conceptual framework to business analysts so that they can perform and discuss their work in a common terminology that is independent of perspective, industry, methodology, or their levels in the organization. The BACCM consists of six core concepts: Change, Need, Solution, Stakeholder, Value, and Context. All core concepts are equally important and necessary. There is no ranking among these - no single concept holds greater importance or significance over any other concept. Each core concept is defined by and dependent on the other five core concepts and cannot be fully understood until all the concepts are understood. Core Concept During Business Analysis Planning and Monitoring, business analysts... Change : the
Read more

CRM project design and planning process

-
Image
The key phases of CRM implementation project are: Develop the CRM strategy Build the CRM project foundations Specify needs and select partner Implement the project Evaluate performance. Please note: Depending on the scope of the project some of these phases or processes may not be applicable. 1. Develop the CRM strategy: Situation analysis Development of the CRM strategy starts with a situation analysis . This analysis sets out to describe, understand and appraise the company’s current customer strategy. It helps to have an organizing framework to guide your analysis.  Commence CRM education If you are about to embark on a CRM implementation, it is important that all stakeholders have a clear understanding of what CRM denotes. Education has the twin benefits of allaying any fears that people might have, based on their misunderstandings, and encouraging participation from people whose jobs might be impacted. Education enables stakeholders to identify opportunitie
Read more

“Critical Thinking” - The most important skill for any Business Analyst

-
Critical thinking is the ability to think clearly & rationally about what to do or what to believe. With this skill set, you can do the following: Understand the logical connection between ideas. Identify, construct and evaluate arguments. Detect mistake in reasoning. Identify the relevance and importance of the idea. Solve problem systematically. Critical thinking also helps you analyze facts to understand a problem or topic thoroughly. Here are common steps that occur when using critical thinking for problem-solving: Identify a problem or issue Create inferences on why the problem exists and how it can be solved Collect information or data on the issue through research Organize and sort data and findings Develop and execute solutions Analyze what solutions worked or didn’t work Identify ways to improve the solution How to improve your "Critical Thinking" skill: To improve your critical thinking skills, consider taking some of the following
Read more