Business Case For Promotion Format – This article presents 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 templates.
Included on this page are 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 Format
Is a formal, structured document; an informal, short document; or a verbal exchange that defines the benefits of an initiative or project.
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In addition, a business case anticipates 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 one approach should be chosen over similar strategies.
Jim Maholic has over 20 years of experience in IT strategy and business case development, including two stints as CIO, two management positions at the big four consulting firms and management positions at several technology companies.
He describes a business case in this way: “A business case is the full story that explains the ROI of a capital project. It begins with a statement of a business problem, then examines how we can solve it or what the value of solving it is. For example, ‘Our revenues are not growing as fast as they should’ or ‘Inventory is not turning over as fast as it should’ or ‘Costs are too high’. This is where the business case starts.
“Then we will 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 this information is wrapped up in a story that says, ‘Here’s the problem. Here is the value of solving the problem. Here’s what it costs in hardware, software or whatever. Here are 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.
Looks not only at lowest cost but also at technical value and other non-quantitative factors in what is known as a
. BCA addresses the triple constraints of time, money, and scope, and may include objectives such as performance, reliability, viability, and supportability.
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A business case helps a company or an organization prepare for new ventures or changes. This document is a critical building block for project success and supports the foundation for senior-level involvement and strong planning. Business cases summarize the benefits of an endeavor and clarify a project’s business value to help stakeholders make decisions.
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A good business case should focus less on the technology, domain knowledge or specific deliverables and more on the users of a product and the goals of a project. Similarly, a project manager should not only focus 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 results.
A business case may seem like another document destined for the shelf or the shredder, but it can provide real benefits:
You might think that business cases belong to finance managers and accountants. In fact, people who have direct knowledge of processes and teams should be responsible for creating these documents.
Some experts say that the person championing change must implement the change, so anyone in any role can take responsibility for making a 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 a deliverable. In an economy that often seems as volatile as it was in 2008, stakeholders want to see that a deliverable creates value and benefits for an organization. This is especially true for complex projects or those that require justification for hiring external resources. Public projects often need business cases.
A business case outlines for a decision maker the benefits and business value of a proposed initiative. Concept
Often refers to a written document submitted for review or presented at a meeting, but can also apply to an informal, oral proposal.
A well-written business case flows logically from presenting a problem or opportunity through the pros and cons of solutions to describing the recommended solution. When you need great detail, you can divide text into subsections, making the content easier to scan, as well as faster and less overwhelming 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, easy-to-use business case templates for construction business cases, one-page business cases, and more. Depending on the narrative needs of the business case, it can contain many possible sections:
The paragraphs that make up a business case may vary depending on your house style and the type of initiative. Jim Maholic says, “I package my business cases like this: I set up a one-hour meeting, so I might have 20 slides, but 10 to 15 slides is plenty. In reality, I might have 100 slides, but I add them in an annex.” You may have credible supporting information, but you don’t want to bore your audience of decision makers by going through every slide.
“They might want to allocate an hour, but honestly, you want to get their attention for 10 to 15 minutes, and then they start checking email and stuff,” adds Maholic. “You really have to be sharp in how you do this and know where you’re going.
“Start with, ‘We have this problem,’ followed by, ‘Here are the people we talked to who confirmed this is a problem. They offered ideas to solve this problem so we could see this significant benefit, ” he notes.
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“What matters at an executive meeting is that I answer the main questions: What is the problem? What is the cost of not solving it? What are the benefits of solving it? And when do we see the benefits? You can ask additional questions later in the meeting or after the meeting, on an individual, offline basis,” says Maholic.
With the help of templates, you can create business cases more easily 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 extend this short PowerPoint presentation template to include more details. The business case presentation template includes space to describe the following elements: the project name, the summary, the project description, the financials, the recommended solution, the assumptions and dependencies, the options and the benefits.
A simple business case template serves a small project or a small organization. It can cover extensive details if needed. It contains space to describe the following elements of the case: the title, the summary, the business objective, the target users, finances and costs, assumptions and dependencies, the implementation strategy, the required resources, and the project management and reporting.
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A healthcare business case template helps you explain the current setup and how the proposed solution can create improvements. It provides space for a one-page summary, context of 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 landscape for a new product or service. In addition to the meta information such as the title, author and abstract, the template includes space to describe the current mission statement, the proposed product or service, the marketing strategy, an analysis of competitors, SWOT analysis, an overview of the implementation plan and financial details.
You can speed up your business process by understanding the business case structure and using a template. In addition, having the correct perspective and following best practices can contribute to your success.
Before you start researching and writing, you need to understand why you want to initiate a project. The goal of a project is to solve problems. What is a problem? A problem prevents your organization from achieving its full potential. To begin, decide what problem the project is trying to solve.
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Projects have deliverables, whether tangible or intangible. Think of an outcome as the outcome created by the deliverables. Benefits represent quantifiable improvements derived from an outcome. When a customer or team member can take advantage of these benefits, they become benefits.
To start, review the mission statement(s) for the organization or project. Identify the data sources for your business case. One way to encourage acceptance of your proposal is to discuss your rough estimates of costs and resources with a project sponsor or customer before starting the business case. This helps you and the sponsor understand each other’s expectations and reduces the chance of sticker shock during the management presentation.