Business Case For Promotion Template – This article features expert tips on how to write a business case. We also provide a checklist for preparing, writing, and presenting a business case, along with free, easy-to-use Word and PowerPoint business case templates.
Included on this page, you’ll find details on how to write a business case, sections to include in your business case, a business case checklist, and business case presentation examples.
Business Case For Promotion Template
It is a formal and structured document; a short, informal document; or a verbal exchange that defines the benefits of an initiative or project.
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Additionally, a business case forecasts the costs, benefits, and risks of an initiative, so decision makers, and even project initiators, can decide whether a project is worthwhile and why choose one approach over similar strategies .
Jim Maholic has over 20 years of experience in IT strategy and business case development, including two stints as CIO, two executive positions at Big Four consulting firms, and leadership positions at several technology companies.
He describes a business case like this: “A business case is the complete story that explains the ROI for a capital project. Start with a business problem statement, then explore how we can solve it or what the value of solving it is. For example, “Our revenue isn’t growing as fast as it should” or “Inventory isn’t turning as fast as it should” or “Costs are too high.” This is where the business case begins.
“Then, we find out how big this problem is. We talk to people in the company and find out what they think is the value of solving the problem. All of this information is wrapped up in a story that says, “Here’s the rub.” Here is the value of solving the problem. Here’s how much it costs in hardware, software or whatever. Here are the benefits. And that’s the whole story.’”
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A business case can also become a key document for a project manager when planning, creating milestones and evaluating progress.
It looks not only at the lowest cost, but also at technical value and other non-quantitative factors in what is known as a
. The BCA addresses the triple constraints of time, money and purpose and can include measures such as performance, reliability, feasibility and supportability.
A business case helps a business or organization prepare for new initiatives or changes. This document is a building block for project success and supports the foundation of senior-level engagement and strong planning. Business cases summarize the benefits of a business, clarifying the business value of a project to help stakeholders make decisions.
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A good business case should focus less on technology, domain knowledge, or specific outcomes and more on the users of a product and the goals of a project. Similarly, a project manager should focus not only on creating output but also on delivering value. An initiative can deliver many types of value, including contributing to strategic objectives, increasing efficiency, and supporting compliance. Insufficient attention to the details of a business case and accompanying research can lead to poor project results.
A business case may seem like just another document destined for the shelf or shredder, but it can offer real benefits:
You might think that business cases are the purview of finance officers and accountants. In fact, people who have direct knowledge of processes and teams should be responsible for creating these documents.
Some experts argue that the individual advocating for change must implement the change, so anyone in any role could take responsibility for producing a business case. This includes consultants, line managers or IT managers. In some organizations, the project sponsor or project manager may lead the preparation of the business case and include input from relevant departments and SMEs.
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It is no longer enough to complete a project and present a deliverable. In an economy that often feels as volatile as it did in 2008, stakeholders want to see that an outcome creates value and benefits for an organization. This is especially true for complex projects or those that require justification for enlisting external resources. Public sector projects often need business cases.
A business case outlines for a decision maker the benefits and business value of a proposed initiative. The term
Often refers to a written document being reviewed or presented at a meeting, but can also apply to an informal oral proposal.
A well-written business case flows logically from the presentation of a problem or opportunity through the pros and cons of the solutions to the description of the recommended solution. When you need great detail, you can break the text into subsections so that the content is easier to scan, as well as faster and less challenging to read. The following are the common sections of a business case in sequential order:
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Many organizations have pre-established templates for writing business cases. If your organization doesn’t, search online for free and easy-to-use business case templates for building business cases, one-page business cases, and more. Depending on the narrative needs of the business case, it can contain many possible sections:
The sections that make up a business case can vary depending on the style of your home and the type of initiative. Jim Maholic says, “I package my business cases like this: I have an hour-long meeting, so I have maybe 20 slides, but 10 to 15 slides is enough. Actually, I might have 100 slides, but I’m adding them in an appendix. You may have credible supporting information, but you don’t want to bore your decision-making audience by scrolling through each slide.
“They could put in an hour, but honestly you’ll hold their attention for 10 to 15 minutes, and after that they’ll start checking email and stuff,” adds Maholic. “You really have to be sharp in how you do it and know where you’re going.
It starts with “We have this problem,” followed by “Here are the people we spoke to who confirmed this to be a problem. They offered ideas on how to fix this so we could see this substantial benefit,” he notes.
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“What matters in an executive meeting is that I answer the main questions: What’s the matter? How much does it cost not to fix it? What are the benefits of solving it? And when do we see the benefits? You can ask further questions later in the meeting or after the meeting, on a one-to-one basis, offline,” says Maholic.
Using templates, you can more easily create business cases because you can focus on your research and fill in the blanks. The following free downloadable templates can be customized to fit your organization’s needs.
You can make this short PowerPoint presentation template longer to fit more details. The business case presentation template includes spaces to describe the following: the project name, executive summary, project description, financials, recommended solution, assumptions and dependencies, options, and benefits.
A simple business case model serves a small project or organization. Can cover extensive details if needed. Includes spaces to describe the following elements of the case: the title, executive summary, business objective, target users, financials and costs, assumptions and dependencies, implementation strategy, required resources, and governance of the case project and reporting.
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A healthcare business case model helps you explain your current setup and how your proposed solution can create improvements. It provides space for a one-page executive summary, context of the problem or opportunity, a description of the current situation, an explanation of the proposed changes, and details on how the changes could affect your organization and any other entity.
A new product business case model explores the business landscape for a new product or service. In addition to meta information, such as the title, author, and executive summary, the template includes space to describe the current mission statement, proposed product or service, marketing strategy, competitor analysis, an SWOT analysis, an overview of the implementation plan and financial details.
You can speed up your business process by understanding the structure of the business case and using a template. Also, having the correct perspective and following best practices can contribute to your success.
Before you start researching and writing, figure out why you want to start a project. The goal of a project is to solve problems. What’s a problem? A problem prevents your organization from reaching its full potential. To get started, determine what problem the project is trying to solve.
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Projects have tangible or intangible results. Think of an outcome as the outcome created from deliverables. Benefits represent measurable improvements derived from an outcome. When a customer or team member can leverage these benefits, they become benefits.
To get started, review the mission statements for your organization or project. Identify data sources for your business case. One way to encourage acceptance of your proposal is to discuss your rough cost and resource estimates with a project sponsor or client before embarking on the business case. This helps you and the sponsor understand each other’s expectations and reduces the possibility of sticker shock during the executive presentation.
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