Business Case For A Promotion Template – This article offers expert tips on how to write a business case. We provide free, easy-to-use Word and PowerPoint business case templates as well as a checklist for preparing, writing and presenting a business case.
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 A Promotion Template
Is a formal, structured document; An informal, short document; or verbal exchange that defines the benefits of an initiative or project.
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In addition, a business case predicts the costs, benefits, and risks of the initiative, so decision makers – and even project initiators – can decide whether the project is worthwhile and why choose an approach to similar strategies.
Jim Maholic has more than 20 years of experience with IT strategy and business case development, including two stints as CIO, two management positions with Big Four consulting firms, and leadership positions at several technology companies.
He describes a business case this way: “A business case is a complete story that explains the ROI for a capital project. It starts with a statement of a business problem, then explores how we can solve it or what the solution is worth.” For example, ‘Our revenue isn’t growing as fast as it should,’ or ‘Inventory isn’t growing as fast,’ or ‘Costs are rising too much.’This is where business issues begin.
“Then, we figure out how big the problem is. We talk to people in the company and they figure out what the value of solving the problem is. All this information is packaged into a story that says, ‘Here’s the problem. Here’s the solution. What’s the price. Here’s the cost of it, whether it’s hardware, software, or whatever. Here’s the benefits. And here’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.
Not only in lowest cost, but also in technical value and other non-quantitative factors known as a.
. BCA addresses the three constraints of time, money, and scope, and may include measures such as performance, reliability, viability, and supportability.
A business case helps a company or organization prepare for new ventures or changes. This document is a critical building block of project success and reinforces the foundation of senior-level involvement and robust planning. Business cases summarize the benefits of the effort while clarifying the business value of the project to help stakeholders make decisions.
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A good business case should focus less on technology, domain knowledge, or specific deliverables and more on the product’s users and project goals. In the same vein, 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 the 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 provide real benefits:
You might think that business cases are the purview of financial officers and accountants. In fact, people with direct knowledge of processes and teams should be responsible for creating these documents.
Some scholars say that the person who advocates for change must implement the change, so anyone in any role can take responsibility for producing the business case. This includes consultants, line managers, or IT managers. In some organizations, the project sponsor or project manager may guide 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 deliverables. In an economy that often looks as volatile as it did in 2008, stakeholders want to create value and benefits for an organization with deliverables. This is especially true for complex projects or those that require justification for enlisting external resources. Public sector projects often require business cases.
A business case outlines the benefits and business value of a proposed initiative for a decision maker. period
Often refers to a written document that is submitted for review or presented at a meeting, but can also be applied to an informal, spoken proposal.
A well-written business case logically flows from presenting the problem or opportunity through the advantages and disadvantages of the solution to describing the recommended solution. When you need greater detail, you can break the text into sub-sections so that the content is easier to scan, as well as faster and less overwhelming to read. The following are the general sections of a business case in chronological order:
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Many organizations have pre-installed templates for writing business cases. If your organization doesn’t, search online for free, easy-to-use business case templates for manufacturing business cases, one-page business cases, and more. Depending on the narrative requirements of the business case, this could include several possible sections:
The sections that include a business case may vary depending on the style of your home and the type of initiative. Jim Maholic says, “This is how I package my business cases: I set up a one-hour meeting, so I have 20 slides, but 10 to 15 slides is plenty. Actually, I might have 100 slides, but I add them to the appendix.” You may have credible supporting information, but you don’t want to bore your audience of decision makers by slogging through each slide.
“They might set aside an hour, but honestly, you’ll get their attention for 10 to 15 minutes, and then they’ll start checking email and stuff,” Maholic adds. “You really have to be crisp about how you do it and where you’re going.
“Start with, ‘We have this problem,’ then, ‘Here are the people we talked to who confirmed that this is a problem. They offered ideas about how to solve this problem, so we can see this as a substantial benefit,'” ” he notes.
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“What’s important in an executive meeting is that I answer the key questions: What is the problem? What are the costs of not solving? What are the benefits of solving? And when do we see the benefits? You can address additional questions later in the meeting or in person after the meeting, on an offline basis. You can,” says Maholik.
By using templates, you can easily create business cases because you can focus your research and fill in the blanks. The following free, downloadable templates are customizable to your organization’s needs.
You can lengthen this short PowerPoint presentation template to accommodate more details. The business case presentation template includes spaces to describe the following elements: project name, executive summary, project description, financials, recommended solution, assumptions and dependencies, alternatives, and benefits.
A simple business case template serves a small project or a small organization. It can cover detailed information if necessary. It includes spaces to describe the following elements of the case: title, executive summary, business objectives, target users, financials and costs, assumptions and dependencies, implementation strategy, required resources, and project governance and reporting.
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A healthcare business case template helps you explain the current setup and how a proposed solution can create improvements. It provides space for a one-page executive summary, a reference to the problem or opportunity, a description of the current situation, an explanation of the proposed changes, and details of how the changes may affect your organization and any other entities.
A new product business case template explores the business scenario for a new product or service. In addition to meta information, such as title, author, and executive summary, the template includes a space to describe the current mission statement, proposed product or service, marketing strategy, competitor analysis, SWOT analysis, and more. An overview of the implementation plan, and financial statements.
You can speed up your business process by understanding the business case structure and using templates. Additionally, having the right perspective and following best practices can contribute to your success.
Before you start researching and writing, understand why you want to start a project. The goal of a project is to solve a problem. What is the problem? One problem prevents your organization from achieving its full potential. To begin, determine what problem the project is trying to solve.
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Projects have deliverables, whether tangible or intangible. Think of an outcome as an outcome created by deliverables. Benefits represent quantitative improvements derived from outcomes. When a customer or team member can reap these benefits, they become benefits.
To begin, review the mission statement(s) for the organization or project. Identify sources of data for your business case. One way to encourage acceptance of your proposal is to discuss your cost and resource estimates with the project sponsor or client before you begin the business case. This helps you and the sponsor understand each other’s expectations and reduces the chance of sticker shock during the executive presentation.