Business Case For Promotion – One of the discussion topics chosen by the participants was getting a promotion. This story was shared by one of the participants, which reminds me of similar ones I’ve heard and my own promotion story.
There was a time when a leadership position opened up on my team. I had already shown my manager how interested I was in growing and I was doing a great job and putting my hands up to do more. However, another colleague who is much less qualified than me got the promotion. It hurt me and it wasn’t fair. I then asked this manager, “Why didn’t you consider me for this promotion?” and he simply said, “I didn’t think of you.”
Business Case For Promotion
This frustrates many women or minorities. Sometimes we think the world is unfair to us. They have biases and that’s why I didn’t get promoted. I had a similar mindset a few years ago. I thought that if I did everything right, if I went above and beyond, they would notice me and promote me; however, I’ve learned that’s not how business works! Also note that I’m not denying that there is a lot of bias in the workplace and we need to improve it, but I do believe that promotion is more than that and you need to make sure you’ve done your job first.
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I would like to share the learnings of my promotion journey and personal thoughts here. I know I still have a lot to learn, so I look forward to your comments to improve this post.
You might not think of it that way; however, it is rare for someone to be promoted without a business case to support the decision. There may be times when the business case isn’t clearly written and doesn’t have exact numbers and calculations, but the person approving your promotion has a business case in the back of their mind. It’s part of their job to run the business!
If you want to get a promotion, you can help make a business case for the manager(s) who will approve your promotion.
Thinking of your promotion as a project, you should first be able to answer these questions about it. Second, find out what other items are important in the minds of decision makers and add to the list.
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For me, what helped me build the business case was a real discussion with my manager. I prepared a presentation with three sections:
1. Credentials: I’ve collected all the certificates and specific awards I’ve earned that demonstrate my credentials. I also knew that a specific level of certification was required in our company for a specific bar level and I had done my homework and obtained those certifications.
2. Credibility: I created slides for my most important projects that had an incredible impact on the business and our clients. I had a brief summary of the project, my unique added value and a screenshot of the good feedback I received from clients, business partners and colleagues.
3.Business opportunity: I had some ideas for projects that could have a positive impact on the company and things that could be added to my scope of responsibilities with the promotion. I was the least prepared for this section at first. I then refined it with the help of my manager.
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The reality of my promotion story was not as clear as above. I learned the need for a business case through failure. I didn’t get a promotion for a year, I got frustrated, I thought about leaving the company because I thought they didn’t care about me here, and then I talked to a lot of amazing mentors and learned that business doesn’t work that way! I learned from my mentors how I should prepare for a promotion and how I should discuss this topic with my manager!
There are many blogs and posts about the importance of having a mentor and how to ask for help. I want to point out two things I learned about mentoring:
Carla Harris explains the importance of needing a sponsor for career growth well in this video. It covers two performance and relationship currencies that you would use.
All evaluation processes require some element of human subjective judgment. You need to make sure that the person representing your case has your best interest at heart. Sponsors are the leaders in the company who will put their trust on the line to defend your case.
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Ask your mentors in your company for a potential sponsor for your career. You can potentially grow the relationship into an executive mentor and sponsorship.
Thanks to Dana Hady for posting this amazing video that inspired me to write this article.
Doing everything right and going above and beyond at your job doesn’t necessarily lead to a promotion. Any promotion is a financial decision that needs a business case.
You own your career growth, so you’re the one who needs to learn how to make a business case and ask for a raise. You need to ask for help from mentors and have a sponsor who puts their trust in you to promote you.
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Finally, when you’ve done all this, you also get a great sense of the added responsibilities and scope with a promotion that comes with added impact and reward. This reminds me of Ginni Rometty’s famous quote “Growth and comfort do not coexist.” This article presents expert advice 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 business case templates in Word and PowerPoint.
On this page you will 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.
Is a formal, structured document; informal, short document; or verbal exchange that defines the benefits of an initiative or project.
In addition, the business case predicts the costs, benefits, and risks of an initiative, so that decision makers—and even project initiators—can decide whether a project is worthwhile and why to choose one approach over similar strategies.
How To Write A Business Case (template Included)
Jim Maholic has over 20 years of IT strategy and business case development experience, including two stints as CIO, two management positions at Big Four consulting firms, and leadership positions at several technology companies.
He describes a business case this way: “A business case is the complete story that explains the return on investment for a capital project. It starts by formulating a business problem, then explores 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 over as fast as it should,” or “Expenses are too high.” This is where the business argument begins.
“That’s when we find out how big this problem is. We talk to people in the company and find out what they think the value of solving the problem is. All of this information is packaged into a story that says, “Here’s the problem. 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.”
The business case can also become a key document for the project manager in planning, establishing milestones and evaluating progress.
How To Write A Business Case
Considers not only lowest cost but also technical value and other non-quantitative factors in what is known as
. BCA addresses the triple constraints of time, money, and scope, and can include measures such as performance, reliability, viability, and maintainability.
A business case helps a company or organization prepare for new ventures or changes. This document is an important building block for project success and underpins high-level involvement and strong planning. Business cases summarize the benefits of an undertaking, clarifying the business value of the project to help stakeholders make decisions.
A good business case should focus less on technology, domain knowledge, or specific deliverables and more on the users of a product and the goals of a project. In the same vein, a project manager should focus not only on creating output, but also on delivering value. An initiative can offer many types of value, including contributing to strategic goals, increasing efficiency, and supporting compliance. Insufficient attention to the details of a business case and the accompanying research can lead to poor project outcomes.
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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 the processes and teams should be responsible for creating these documents.
Some experts say that the individual advocating for change should drive the change so that anyone in any role can take on the responsibilities of making 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.
It is no longer enough to complete a project and present a result. In an
How To Write A Business Case (with Examples & Template To Help)
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