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Business cases: "What for" and "How to"?

Business cases are mostly used in companies to prepare a major change, introduce a new project, or propose a new investment. Their impact is crucial as implementation will affect the whole organization significantly. A business case can also be the rationale for substantial reorganization or re-engineering.

A few examples: Align key services with a re-defined strategy, like a new IT project funding; rejuvenate a mature activity, like a customer service; launch a new venture, like a call center; look for improvements for ailing areas that need a full redeployment, like service delivery, product reliability or product information systems.

Basically, to put it simply, a business case should ideally demonstrate that its application will bring more benefits, with less costs, less risks and in less time:

bizcaserules001

→ 12 prerequisites before you to get started

Before you fire off with the first lines of your business case, you obviously are aware that this is not a simple fill-in-the-blanks exercise. Just to give you a few ideas on how to set up your structure and start an acute analysis, here are 12 prerequisites that I consider vital to maximize your chances of "selling" your business case internally and succeed in its implementation:

1.	Business case team must incorporate all required competencies.
2.	Scope of the business case must be crystal-clear and cover all critical items.
3.	Key success factors have to remain down-to-earth and rather conservative.
4.	Key issues demand careful impact measurement.
5.	Cost/Benefit analysis should be proven and extremely factual.
6.	Benefits should be tangible, well-identified, consistent and financially valued.
7.	Data must be correct, recent, covering all aspects: double-checking is essential.
8.	Payback / DCF / IRR models as used in your company are musts and complement financial tables.
9.	Investment life time must be precisely explained.
10.	Executive summary must contain all key items for decision making.
11.	Business case model agreed on must be strictly applied and not escaped or —worse— manipulated.
12.	Follow-up must happen on a regular basis.

Hope this short description helps!

If you need a hand, drop me a line here.

View Nick Paulus' profile

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