After completing this course, you will be able to build an effective business case. You will understand what makes a business case, how to prepare one and how to design business cases to persuade decision makers.
Understanding what is a good business case will be followed by a description of the functions and elements of a business case. You will learn how to research and what to research in order to prepare yourself and how to align business case with organizational strategy.
Finding the best angle and making an effort to polish your business case will increase your chances. So, you will learn about the principles of business case design to respond to your identified decision makers.
A 12 Steps approach will guide your learning and practice:
In this course, you will learn how to plan, write, and present a business case to persuade key decision makers in your organization that your proposal is a winning initiative.
This course will show you the principles for preparing an effective business case, and it will guide you through the writing process, from defining your business need and gathering relevant information, right through to assessing the financial impact of your solution.
A business case is a document containing all of the information necessary for an individual, group, or organization to evaluate a proposed project. A good business case enables you to secure the resources and capital investment you need to implement your project.
The most obvious reason for putting together a business case is to persuade your organization to invest in a new project. However, a business case is not just a financial document.
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Present the course structure, objectives, overview and study guide.
It is important that you know when it is appropriate to write a business case, and that you have a clear vision of what you hope to achieve with it.
A business case is, above all, a selling tool. You use a business case to persuade senior executives in your organization that your proposed project is more deserving of budget approval than other competing bids.
When writing a business case, you should bear in mind its function - what you and the decision maker want the business case to do.
A business case defines a problem or opportunity, and outlines the steps that you intend to take to deal with the problem or opportunity.
You use a business case to convince the decision makers in your organization that your project is deserving of resources.
A business case is a document that defines your project and its goals. It helps you allocate resources, make provisions for unforeseen obstacles, and facilitate good decision making.
The basic components in a business case include a current and pro forma balance sheet, an income statement, and a cash flow analysis.
When evaluating your business case, company decision makers are interested in how your proposed project intends to reach customers and create sales. You present this information within the marketing components section of your business case.
Understand the benefits, functions, elements and marketing components of a good business case.
An effective business case must be well written, interesting, to the point, and able to communicate a message to the reader effectively.
For your project to be a success, you must complete a cost and benefit analysis to establish whether
Your business case must document certain assumptions about the proposed project. These assumptions should be tested with project stakeholders and operational managers before you include them in the business case.
You need to discuss the strengths, weaknesses, opportunities, and threats (SWOT), as well as any risks associated with implementing the solution.
A powerful tool for measuring performance, Activity-based Costing (ABC) is used to identify, describe, assign costs to, and report on agency operations.
A more accurate cost-management system than traditional cost accounting, ABC identifies opportunities to improve business-process effectiveness and efficiency by determining the "true" cost of a product or service.
It is important to research the costs, benefits, assumptions, and constraints associated with a project, and to include your findings in your business case.
The decision makers who read your business case need this information in order to weigh the pros and cons of the project. You need to know how to identify and categorize the costs and benefits of your project.
Certain departments within your company can assist you in building your business case. In most companies, these can be broadly classified into seven categories: Research and Development, Facilities and Equipment, Materials and Supplies, Sales and Marketing, Financial Services, Legal Services, and Human Resources.
Sample Cost Identification Spreadsheet
Mismatches between corporate and project strategies are a major cause of project failure.
All companies have a strategy, whether it is explicit or implicit. Some organizations devote a lot of resources to formulating their strategy in written form, while others simply act out their strategy and do not articulate it.
A company's strategy integrates the company's major goals, policies, and actions into a coherent whole.
A business case is written to provide company decision makers with the data they need to determine the viability of investment in your project.
In order to convey your message effectively, it's worth devoting some time to researching the people to whom the case will be presented.
Before you start preparing your business case, you must give some thought to who will use it besides company decision makers.
Users of your business case may need to refer to the case to stay focused, to remain committed to your product or service idea, and to explain the basic concept to new managers should management change during the development phase.
When you are preparing a business case, you must include the information that is relevant to, and will influence, the decision makers. Different decision makers have different expectations from business proposals.
Research and align your project with given business processes and corporate strategy, and identify the best arguments to convince decision makers.
The layout and design of your business-case document can help you get your case approved. Valid research and good writing are essential components of an effective business case. However, creating a document that is easy to read and professional looking can help to ensure that your business case is read.
The way you write and design your business-case document can influence how it is received by your company's decision makers.
"I think we're all in agreement that this business case is really well-written and very clear." Writing a business case involves more than just dumping information into a document.
The production of a good business-case document involves designating the writer or writers, organizing the content, and implementing layout and design guidelines for the finished document.
Everyone on your project team should be involved in the development of your business case. This ensures a broad range of perspectives, and may generate information and ideas that you might have otherwise ignored.
However, this does not mean that everyone on the team will write a section of the business case.
This is a business case that can be used in an organization. It is based on academic research, industrial research, case studies, consulting experience, and common knowledge found in the usability community.
Build and design your business case documentation for impact and persuasion.
An optional project based on the knowledge and skills developed during the course.
Learning reinforcement and course conclusions. Next step, presenting your case.
Learning reinforcement, practice and course conclusions.
Before Udemy, Sorin developed and delivered on management, project management, computer literacy, human resources, career development, soft skills for employees and even corrections incidents management.
Currently working as a prison service consultant, he is a certified trainer and project manager, holding a master degree in International Relations and Policy Making and a bachelor degree in Law and Public Administration.
Sorin coordinated during the last 10 years projects in the areas of rule of law, regional development and human resources.
He has more than 10 years of middle/senior managerial experience within the civil service (justice, corrections, internal affairs, training), private sector (project management, consultancy, training) and NGO (industrial relations, rural development).
Sorin is also a certified International Computer Driving License (ICDL) tester and trainer for the United Nations Peacekeeping Missions, certified Human Resource Professional and a Public Manager (professional degree).