A business case sets out the reasons why a particular course of action will benefit the business, how it will provide that benefit and at what cost.
Your business case should be made either in value-added terms (how much extra you will get over the cost of implementing it) or on the basis of return of investment (the cost of implementation is justified by the financila returns you will recieve, like increased productivity)
Here are some ways you can enhance the value of the business case you are proposing:
1) It can be shown exactly how the return on investment meets or exceeds the amount you have to spend to achieve it, and it isn’t going to have a detrimental effect on cash flow
2) Information is available on the impact the proposal is going to make on key areas of the business, e.g. customer service levels, quality, shareholder value, productivity, innovation, skills development, etc.
3) It can be shown how the case will influence the competitive edge the comany will experience in the future, e.g. by reducing the time-to-market of products or services
4) It will add to the reputation of the company in the short and long-term with the local or international community, e.g. it will help what you do now get even better
5) There is proof that the new idea has worked well in other cases internally or represents good practice that can be transferable to the company
6) The implementation can be done without too much downtime or too much trouble between individuals or departments
7) The case is brief, to the point and the arguments are sound and well-argued, making it easy for stakeholders to agree the terms
If you keep these objectives and enhancements in mind, there’s every chance your business case will be recognised as good for the company.
Mark Williams is a learning and development professional, using business psychology and multiple intelligences to create fascinating and quickly-identifiable learning initiatives in the real-world business setting. Mark’s role at MTD is to ensure that our training is leading edge, and works closely with our trainers to develop the best learning experiences for all people on learning programmes. Mark designs and delivers training programmes for businesses both small and large and strives to ensure that MTD’s clients are receiving the very best training, support and services that will really make a difference to their business.