12 Steps Business Case Development | Sorin Dumitrascu | Skillshare

12 Steps Business Case Development

Sorin Dumitrascu, Management trainer

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18 Lessons (1h 40m)
    • 1. Course Promo

      1:37
    • 2. About the Course

      2:18
    • 3. Course Overview

      2:33
    • 4. Course Guide

      1:51
    • 5. Benefits of a Business Case

      4:46
    • 6. Business Case Functions

      6:21
    • 7. Business Case Functions

      9:59
    • 8. Business Case Marketing Components

      5:36
    • 9. Effective Business Case Writing

      5:36
    • 10. Business Case Research Topics

      12:30
    • 11. Business Case Research Methods

      16:02
    • 12. Aligning with Corporate Strategy

      9:07
    • 13. Identifying Decision Makers

      4:51
    • 14. Influencing Decision Makers

      4:11
    • 15. Business Case Design

      5:52
    • 16. Benefits of Good Writing and Design

      2:56
    • 17. The Business Case Writer

      2:53
    • 18. 12 Steps Business Case Development

      1:27

About This Class

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.

12 Steps approach will guide your learning and practice:

  1. Choose your business idea,
  2. Define your business objective,
  3. Determine the functions of your business case,
  4. Prepare a generic structure of a business case (marketing components included),
  5. Research your business idea by needed topics and using appropriate research methods,
  6. Analyze and compile results of research,
  7. Align business idea, strategy and processes,
  8. Determine the best angle to sell your business case,
  9. Write your business case content,
  10. Adapt your business case to various decision makers, 
  11. Emphasize high impact elements, and
  12. Prepare to 'sell' your business case.

So, if you want to learn how to develop a business case, for work or in your personal projects this course is for you. It's simple, compact and guides you step by step.Thank you for considering my course! If you are interested, go ahead, and hit that apply button!

Transcripts

1. Course Promo: After completing this course, you will be able to build an effective business case. You would understand what makes a business case, how to prepare one and how to design business cases to pursue a decision. Makers understanding what is a good business case will be followed by description off the functions and elements off a business case. We will learn how to research and what research In order to prepare yourself and how to align business case, we'd organisational strategy. Finding the best angle and making an effort to polish your business case will increase your chances to security sources for your projects. So you will learn about the Principles for business case designed to respond to your identify decision makers. Potential interests. Welcome to the business K Development course I'm serene and I will be your instructor. I'm a trainer. Specialized on management with more than nine years senior at middle management experience . The course includes video written lectures, makes use of many examples and practicing Auriol life. Professional case studies is included, and for those interested, a small optional project will reinforce the learning. We want to learn how to develop a business case for work or for professional projects. These courses for you with simple compact and guides. You step by step, and it comes with a 30 days money back guarantee of Thank you for watching. If you're interested, go ahead and hit that apply button or start the free preview and see more about this course . I will be here to answer to any questions that you might have See you inside the course. 2. About the Course: Whether you're looking for investors, you want to invest in product development or reinvent your business processes with the new marketing channels. It is more important than ever to have a business case that is carefully planned, written and presented. Writing a good business case will help you sell your business idea, justify resource allocation to key decision makers and secure funding for a project which might be great but not convincing enough to get. Really. So we use a business case toe, mainly convince someone else by using factual letter and showing that we're ready to make good use off what seems to be an opportunity and what's best for this than having in place a system that works. I am so lean and I will be your instructor. I will help you understand why business case, how to be the good business case and how to present it to get results. This is not a get rich, quick type. Of course, it is a step by step presentation off a simple matter that will help you write a solid case for your business idea. It was myself several times in the situation off presenting a business case once many years ago, I even saw that I can just present without preparation because this is my field and guess what it didn't work sees. Then I have learned my lesson, and they did it by the book step by Step on detail and I got my investors and I also realized that this is something that works beyond business and profit. In any case, you make to sell an idea. But to keep this introduction short in this course, you will learn how to plan right and present business case to persuade key decision makers in your organization or elsewhere 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 building process from defining your business need and gathering relevant information right through to assessing the financial impact off your solution. This course will conclude practical advice on how to concisely present your business case to connect with your audience, the key decision makers and might be followed by one distinct course on presenting your case. So thank you for embarking on this journey. Next, we're going to have an overview off the topics included to you. They're for details. What exactly we're going to learn 3. Course Overview: Do you know what the business cases and what can you do for you? Business cases A document containing all of the information necessary for individual group organization to evaluate a proposed project. A good business case enables you to secure the resource is and capital investment you need to implement your project. The most obvious reason for putting together a business case is to persuade the organization to invest in a project, however a business cases No, just a financial document. While the business case should include financial justification, they should not be the only purpose off the business case document. The business case should be where all relevant facts are documented and linked together. To use an example. Stephen is a finest manager for a loafer, is working on an initiative for unimproved payer plan for the company. His business case describes the shortcomings off the current payer system and explained how he solution can increase efficiency and saved the organization both time and money. It also detains the resource is needed to deliver the solution. So this could be a very simple business case structure, and the good business case should tell its audience why the project is needed, how it will create solutions to the issues and opportunities facing the organization. What will happen to the business if the project is not undertaking when the project will be deployed and how much capital investment, human resources and time will be needed to deliver the project? Organizational budgets for new projects are often very tight, so competition for resources is high among managers and project leaders. Without a written business case, you have very little chance of persuading decision makers within your organization to implement your project your proposed project over a competing project. So it was taking the time to produce a good business case for a project, as it can help you to secure the project. Resources that you need this course will provide you with the information you need to write a business case. You will love what the business cases and when one is used, you'll find out what you need to do before you start writing a business case. What information should be included in your business case? You'll also receive instructions on researching and presenting your business case and how to tailor it to a specific audience. Next, we're going to spend about two minutes on how best to use you to me for a better learning experience. And after this, we're going to detail the benefits off a good business case just to have a starting point. 4. Course Guide: for a better only experience change or juice settings to HD. Depending on your Internet connection, the quality off your video lesson should be better on your playing device. It would be also a good idea to check for additional resources for every lesson most of the time on audio version will be available and the PD of presentation. Use the discussion board for questions and to invite our student colleagues to share personal experiences. Interaction with improve your learning and they will be here to help. You can also take notes. This is also very helpful to improve retention, and you will find an easy reference. If you need to revisit the course, there will be some exercises to complement end of section crazies. For some, it would help to stop the video for one or two minutes and try to respond every time. I will give the correct answer so you can compare. It might be that for some exercises, you need more time in tow. Work on the template. I use this for skill development, and they believe in practice. Most of the time you learn more from thes. They're from my presentation. You are the clients so you have the right to make suggestions and to us for more. I know you feel the need to be nice and appreciate the effort, but please, if you need something related to the course, feel free to ask if you see a mistake in a course in to Report it to me. You get a free coupon course. In exchange, I will make the corrections and you'll get the free course. I'm not a native English speaker, so I would pronounce some words in my special way. Please forgive and accept this as a challenge off. Learning in English with a slight Romanian accent at the end of the course review would be very much appreciated. It helps me improve the course, and it has other potential students to make a choice for technical issues. I might help, if not received, any technical support to help you. Whatever is not working properly, please write to me or to you, to me, this is it. Happy learning and see on the course 5. Benefits of a Business Case: being aware of the benefits off. Creating a good business case can help to motivate your and your teeth. It is important that you know when it is appropriate to write the business case, in that you have a clear vision off what you hope to achieve with it. Business case is, above all, a selling tool. You use a business case to persuade senior executives in the organization that your proposed project is more deserving off budget approval than other competing beats were written. Business case benefits you and your organization by allowing you toe first gain control of resource is then calculate the potential benefits of the project, simplify the development of the financial justification, provide the constant message to many audiences and share and organize Selves, activities and knowledge. Good business case can help you gain control of resources by convincing executives choose your project as the best available response toe problem or opportunity. The business case serves as a yardstick for a project allowing it to measure its success. It can also facilitate benefit of salvation by outlining the do nothing scenario at these. What will happen to the business with the project is not undertaken these effectively links the issue to the solution. Good business case, simplified the development off the financial justification and can identify opponents of problems within the solution. However, business case should be more than just a financial document. Good Business case provides a high level and consistent view off the entire project. Toe all parties potentially affected by the project. And finally, Business Case provides an objective review off the ideas and facts of the project, identifies inconsistencies off weaknesses and communicates the purpose off the project. It also justifies your team's therefore and gives your team a sense off accomplishment. Stevens Business case The one we have used before as an example, gives the decision makers in his company a comprehensive overview. Fees projects potential by outlining the do nothing scenario. The business case helps to emphasize the problems in the existing power system and clarify how Stevens Solution will address these issues. The business case gives the decision makers all the information they need to weigh the pros and cons off. Stevens propose project. So how can writing a good business case benefit you and your organization? Let us have some practice. We have these options one by helping you to gain control of resources to buy, enabling you to disguise project inconsistencies or witnesses by placing a financial document for by facilitating the calculation off the potential benefits of project life by delivering a consistent message to different audiences and six by enabling your team to share an organ, I thought Activities and knowledge. Which one of the correct options. While you think you might want to stop the video for a second to think about? Okay, great. Now let's compare Option one. This is a correct option. Good business case can persuade executives to choose your project as the best available response toe problem or opportunity. Option two. This is an incorrect option, a good business case identifies and inconsistencies and weaknesses in a proposed project. Option three. This is an incorrect option, although it that facilitate the development off a financial justification for the project business case is not a financial document option, for this is a correct option. The business case provides the useful measurement off the project's success. It can also outlined what will happen to the business if the project is not undertaken. Option five. This is a correct option. A good business case provides a high level and consistent view off the entire project. Toe all parties potentially affected by the project. Option six. This is a correct option. Business Case reviews and organizes three ideas. In fact, off the project identifies inconsistencies or witnesses and communicates the purpose of the project. Now to conclude, every business wants good solutions for the issues and opportunities facing it. But sometimes the best solutions are bypassed due to a lack of coherent information. Documenting all the relevant information in a business case makes it easier to leading the issues to the solution and encourages the decision makers in your organization to invest in a project. In this course, you will find out more about the benefits off writing a good business case for a proposed project and obtain an overview off the key issues that an effective business case should address. Thank you for watching. By now you know what is discourse about? Something is missing from the general picture. Tell me, please. It is always good to learn more about your preferences. Next, you're going to learn about the functions off a business case 6. Business Case Functions: the business case gives key decision makers and over the offer project, and it can also help you to secure the resources you require for a project. But writing a business case, you should bear in mind its function, want you, and the decision maker wants the business case to the business case, defines the problem or opportunity and outlines the steps that you intend to take to deal with the problem or opportunity. He was a business case to convince the decision makers in your organization that your project is deserving off resources. A business case also serves as a project blueprint, which can be referred toe throughout the project lifecycle to ensure that everything stays on track. The main functions off a business case are to describe the problem or opportunity facing the company. What will happen if the project is not implemented? How the project will address the issue, how the project will be implemented and the resource is required to implement the project. To give a practical example. Robert is a regional manager for a closing retail company. Having identified the falling sales revenue in some outlets on the West Coast, he proposes to consolidate some of these outlets to reduce costs. In his business case, he gives the tails off the down Tony saves in these outlets. He provides the do nothing scenario, stating that inaction on this issue will result in increased costs and possible damage to the company's brand image. Roberts Business Case proposes to address the issue by consolidating several West cost retails outlets in tow to bigger outlets in prestige occasions. He describes how each face off the consolidation will be executed and provides an estimate off the personnel that financial resources that will be needed to implement the project. Now the information in a well written business case can enable the decision maker to do a number of things, compare proposed projects, clarify complex information and make an objective decision. The decision maker needs to compare the recommendations, pricing and evidence in your business case with those for other proposed projects. He or she may have to deal with a lot of conflicting information and may have little practical knowledge of the subject area. A business case can enable and non technical decision maker toe understand crucial technical information relating to the proposed project. A business case adds objectivity to the decision making process by providing specific, organized and detailed information about the proposed project. Another example on is a senior executive in a software company. She has received two business cases from two I T managers, each proposing a solution for upgrading the corporate interests. She needs to compare a lot of information in order to make an informed decision regarding which project or proof, because On is not very familiar with the technical aspect of this area. She needs the business cases to explain crucial technical information concisely and without . Terrible On also wants her decision to be objective and based solely on the information provided in the business case. Information in the business case should be presented to executives like an in a way that facilitates decision making. More potential benefits off the project should be summarized in the clear business terms. The space it easier for decision makers taken to evaluate the business case. That's the teary, and I use an example. What do you think about some practice? A situation question at some options for you to truths. We are presenting a business case. Your company, a packaging manufacturer for the outsourcing of particular manufacturer components off your packaging products while they're the functions off your business case in dysentery. So we have these options. One to outline the increased revenue to be made from outsourcing expensive manufacturing elements to to describe how the company will lose market share to rivals with cheaper products unless it our sources. Three. To provide technical information about software requirements of the project for two proposal Detailed outsourcing plan to enable the company to retain its market share. 5000. The scheduled for implementation of the plan seeks to provide investors with data on projected revenue and seven to estimate the total cost off outsourcing project, including staff redundancy payments. Try to remember what you learned that are the functions off a business plan and recognized the good ones. If you're back from a short reflection post, they're more than welcome. Let's see now the right answers Option one. This is a correct option. The decision maker should be fully briefed on the problem or opportunity addressed by the business case. Option two. This is a correct option. This is also know as the do nothing scenario and is a crucial element off a business case Option three. This is an incorrect option. Business case should enable a non technical decision maker toe understand crucial technical information relating to the project option. For this is a correct option. The business case should propose a solution to a particular problem or opportunity. Option five. This is a correct option. The business case should outline how the project him intends to implement the plan. Option six. This is an incorrect option. The business case should provide an overview off a project for decision makers and for the project in Not for Investors and Option seven. This is a correct option. Estimates should include all personnel it financial resources needed to implement the project. To conclude a business case defines a problem or opportunity and outlines the steps that you intend to take to deal with the issue opportunity. It can also serve as a project blueprint to be refer toa throughout the projects. Lifecycle. The main function off a business case is to describe the problem or opportunity facing the company. What will happen if the project is not implemented? How the project will address the issue, how the project will be implemented and the resource is required to implement the project can have the decision maker to compare proposed projects, clarify complex information and make an objective decision. Thank you for watching. If you think that you can give other examples pressure with your colleagues next, we're going to learn about the elements off a business case C on the next lesson. 7. Business Case Functions: I said it before, but they were just like to remind you this business cases, a document that defines your project and its goes, it tells you, allocate resources, make provision for unforeseen off stackers and facilitate good decision. Make the basic components in a business case include a current and pro former than sheet an income statement and the cash flow analyzes. A business case should answer some important questions about your proposed project. Why is the proposed solution needed and what issues and opportunities does it address? What is the recommended solution to the issue or opportunity being addressed? What are the benefits of the proposed solution? What will happen to the business if the project is not undertaken when, well, the solution be display and what human financial and time resources will be needed to deliver the solution? Joan is an HR manager for a large software company. He's been working on initiative for an improved record Spanish Man Plan for the company. John believes that there is a pressing need for the organization to meet its legal and business obligations by improving access to records and information. Senior executives Jones Company require a detailed justification off Jones business proposal before they will consider it. Joan has never thrown up a business case before and needs to know what elements to include in the document. A good business case must contain certain elements. Background executive summary situational assessment, problem statement, project description and solution description. The big round outlines the business problem or opportunity that exists. The executive summary is a short summary off the entire business case. It is presented first but is usually written. Last Situational Assessment and Problems Statement section contains detailed information about the problems or opportunities facing the organization. The project description contains the tail information about the project. It should contain a description and scope for the project as well as the project objectives . The solution description. The day is the solution. You are proposing to deal with the issues and opportunities detailed in the situational assessment. The solution description should give the concept overview solution. Detail some project structure and solution alternatives. The business case should also contain disc elements. A cost benefit, analyzes implementation, timeline, critical assumptions and risk assessment and have clear conclusions and recommendations because benefit analyzes, gives a detail, analyzes off the costs and benefits off implementing the proposed solution. The implementation timeline shows the project schedule for implementing the solution and the shores management that your team has thought about accommodated any issues that may arise. Your implementation section should also address implementation components, major milestones and major dependencies to critical assumptions and risk Assessment Section contains a list of the assumptions that have been used while developing a solution. Conclusions. A recommendation section closes the business case. It should give a brief summary off the cases main points. It should convey a sense of urgency and remind the reader off the risks off, not carrying out the proposed project In his business case for implementing and improved records management plan for the company, Joan gives some background on the company's existing record system. Nothing that it has been in use since 2000 to his Situational Assessment and Problem statement section. Describe the issues facing the company's record maintenance efforts, details the business and legal implications off inefficient record retrieval. John then sets out the scope and objectives off his proposed project. The project's main objectives is to implement an improved system of records management of I , an updated that obey system. The solution description gives detailed information on the records management project, outlines a program for updating the record system and indicates how the team on deal with technical issues. John's business case includes preliminary analyzes off the project's costs and benefits, including factors that may affect costs during implementation. Provides an outline schedule and development plan, including time and resource estimates for Project US such a software upgrading and record conversion. John details his main assumptions regarding present and future conditions that may affect the projects delivery. This includes the renewal Off Cos I t Support contract and company policy on outsourcing. The conclusion sums up by reiterating the Arjun need for improved database system and recommends that Jones project be initiated without a leg. And now it's a good moment for practice. Gene is a project manager for a small Internet insurance field. She hopes to set up a customer support department and is preparing to write the business case. She needs to know which are the crucial elements to incorporate before she begins. Which of these elements should Jean include to make a business case description off the scope and objectives on the customer support project? Statement off the problems facing the organization due to the lack off a customer support service, at least off project assumptions made by Jean and her team and an evaluation off the reefs involving implementing the project. Released off accurate predictions off all obstacles that the project will encounter scheduled for the development and roll out of the customer support system or a detailed organization chart off all personnel involved in the project. These questions will help you build the right structure off a business case. It does compare our answers. Option one. This is a correct option. Jeans Project description should contain the detail project information such as description , scope and objectives. Option to This is a correct option. The background section off the business case outlines the business problem or opportunity that exists. Option tree. This is a correct option. The Critical Assumptions and Risk Assessment section contains a list of the assumptions that have been used while developing a solution option for this is an incorrect option. It is impossible for Jean to predict the specific issues that will arise, although she should outline how the team proposes to deal with unforeseen obstacles. Option five. This is a correct option. The implementation timeline shows jeans project schedule for implementing the solution and the shores management that her team has thought about and addressed potential issues. Option six This is an incorrect option at this stage. The exact composition off the project in may be subject to change, and this is not it. Have a second question for you. Please stop again the video for a second to reflect on the right answers. You might also want to review this lecture. Which of these elements should gene also including her case detail information on the need for the company to implement the customer support service, a summary of the business case, Main points and the recommendation to implement the proposed plan. A confidentiality agreement must be signed by all readers off the business case. Details of how the customer support service will deal with specified issues and opportunities. A detailed analyzes off the costs and benefits off implementing the customer support plan or an executive summary of the customer support plan. Business case littered up to the context, of course, and not be very region. But some of these other elements you need to consider for your business case, so let us see the answers to this final practice section. Option one. This is a correct option. The situation of assessment and problem statement section contained detailed information about the problems or opportunities facing the organization. Option toe. This is a correct option. The conclusions and recommendations section the neighbors gene to summarize the cases main point and remind the reader off the Reese off, not carrying out the project option tree. This is an incorrect option. Unless the business case contains sensitive information, the normal confidentiality rules off the organization should be enough option for this is a correct option. The solution description outlines the solution that gene steam recommends to deal with the issues and opportunities detail in the situation of assessment. Option five. This is also correct. Option. The Custom Benefit Analyzes gives a detailed analyzes off the costs and benefits off implementing the proposed solution. Option six. This is a correct option. The executive summary is a short summary off all information included in James Business Case and is usually great and us to conclude a business case defines your project and its goals. It also helps you to allocate resources, make provision for unforeseen of stackers and facilitate good decision making. The business case should answer important questions about your proposed project. A good business case should contain a background executive summary, a situational assessment and problem statement, a project description, a solution description, costal benefit analyzes and implementation timeline, a critical assumptions and risk assessment section and the conclusions. A recommendation section. And this is not all there is something toe out your business case. There are the so called marketing components that will make your business case a success and the bodies were going to discuss next. For now, you're ready to outline your first business case thinking for watching and see you in the last lecture off this section, which gives you an introduction to the business cases. If you have enjoyed this, I promised you like even more the next sections. 8. Business Case Marketing Components: When evaluating your business case. Company decision makers are interested in how your proposed project intends to reach customers and create cells. You present this information within the marketing components section off your business case . The business case should include five marketing components. The Research plan Project Features and Benefits Creative Plan, the Marketing Communications Plan and Assess Plan the Research plan. Details. Have your team in terms together and analyze information about existing customer needs. The project Features and Benefits component. Organize the features and benefits that the project will bring to the organization, such as increased inventory turnover, access to new customers and reduced staffing levels. The creative plan outlines how your team is going to inform customers about your product. These plans should be simple, memorable and focused on the benefits off the proposal. The marketing communications plan details how time and money will be allocated to distributing product information to customers. This is plan communicate strategies for acquiring new business, growing existing business and making or exceeding sales. The marketing components off a business case are often interlinked and interdependent. For example, advertising is a crucial component for any marketing communications plan. The ideas used in advertising are usually drawn up in your creative plan, which is itself dependent upon the customer needs described in your research plan. Some to give a practical example Shown is an online sales manager for a large leisure travel company. Nearly 80% of the company's packet Selves are online, and the company's image is very Internet based. Show needs to present the business case for updating the online ordering system. The company executives are keen to know how this project will benefit the company in the marketing components section off his business, Case shown proposes a Saray off all customers to assess their online ordering habits and requires in the Project. Features and Benefits Section shown suggest that the proposed update will increase Inventor IT turnover by up to 6% a year and will help reach new customers. Shows Creative Plan outlined strategies for advertising the new system, including special deals and the loyalty scheme for regular customers. His marketing communications plan suggests targeted advertising off products to repeat customers, and he says plan aims to use different incentives to entice new being this everything existing customers with the help off, a good research and the well defined set of product features and benefits, you can construct an effective creative plan, marketing, communication plan and sales plan. This components are crucial toe good business case as they demonstrate to the decision makers that your team has considered the bottom line that these reaching customers and creating saves. Now let's try to practice what we have learned. Nancy is a marketing manager with an educational software company. She is constructing a business case for a promotional initiative that she believes will increase sales and reach new customers. Identified the marketing components that should be included in Nancy's business case, and you have the following options to choose from one. The technical specifications off the project to plans for a customer. Why survey To find out which promotional initiative will be most successful? Three D days off How customer refers can be used to expand the company's customer based for a plan for a customer wide email advertising campaign. Five. The development timetable for the project six details off. The resource is required to initiate the email advertising campaign and several projections how the refers off existing customers will increase sales to new customers. Which one do you think are correct options. Option one. This is an incorrect option. The technical specification is not a marketing related component off the business case. Option two. This is a correct option. The research plant. It is how Nance's team intends together and analyze information about existing customer needs. Option three. This is a correct option. The project Features and Benefits component outlines the features and benefits that the project will bring to the organization. Option for this is a correct option. The creative plan outlines home. Nancy Steam is going to inform customers about the initiative. Option five. This is an incorrect option. The development timetable is not a marketing related component off the business case. Option six. This is a correct option. The marketing communications plan details how time and money will be allocated to distributing product information to customers. Adoption. Seven. This is a correct option. The sales plan communicates strategies for acquiring new business, growing existing business and making or receiving sets to conclude the marketing components section off. Your business case includes information on how to reach customers and create sales. The five marketing components that should be included in a business case are the research plan. The product features and benefits, Creative plant marketing, communications plan and the sales plan. The marketing components off a business case are often interlinked, and in the definite next, we're going to go into details, and we're going to see how to prepare your business case. 9. Effective Business Case Writing: an effective business case must be were written interesting to the point and able to communicate a message to the reader effectively. Successful business cases are supported by three key processes. Proposing, selecting and tracking. The proposing process provides standards and methods for building and so meeting good business cases. The selecting process defied the decision makers and the process they use for funding projects. The tracking process monitors the investment value of the project by comparing its actual value. With that forecasted by the business case Ben, a project manager for a textile company, he's preparing a business case with the key processes in place. Ben's business case benefits as follows because he is following the proposing process set out by his company for preparing a good business case. Benn's proposal ensures that he will receive a fair hearing plan, identifies the key decision makers for business proposals in his company and familiarize is himself with the processes they use for approving funding for projects, then includes in his business case a forecast of the value of the project for comparison with its actual value when it is implemented, failure to implement effective business case processes can cause adverse effects on your company's business as well as on your business case. Failure to implement a defined proposing process can mean that investment proposals with high potential value are overlooked in favour of flow payoffs options because there is no process to encourage accurate business. Case analyzes the business, then loses out on returns on investment without a good selection process. Good business proposals may be ignored when politically powerful decision makers pushed through and in fear. Alternative option. The lack of consistent selection criteria results in good investment options being ignored . Failure to implement the tracking process can be detrimental when an approved project fails to meet its targets during implementation because its scope was modified during roll out. The new scope negated value assumptions outlining the original business case, and the shortfall was not noticed in time to revise the project targets nicely written case Jim, but they have no idea how this proposed time management system is going to affect productivity, and how much will it cost anyway? It is pointless to write a business case unless it includes effective, pertinent and usable information, and unless the proposal alliance with companies objectives, it is essential to researcher business case thoroughly so that all costs, benefits, assumptions and potential constraints off the project are fully investigated. If you researcher business case well and the lining with business processes, we are more likely to pursue a decision makers that your project should be selected and secure the resources you need. After the initial rejection off his business case, Jim decided that some extra research was needed. In in particular, he looked at the costs and benefits associated with time management system. He tracked how the implementation of the system could be tied directly to the company's bottom line and illustrated this in the business case. Jim's business case, one successful when he recent mated it, he WAAS awarded only resource is he required to implement the system, which significantly increased productivity in the company. So why is it important to research your business case and the line it with business processes? Is it because he will ensure significant benefits for the company? You are more likely to persuade decision makers that your project should be implemented. We will increase companies productivity or because you're more likely to secure the resource is unique. I'm sure repose the video and have chosen the same answers. Option one. This is an incorrect option. The benefits of a project to a company will become apparent only when the project is implement. That option to this is a correct option. Researching your business case in a burst you to answer questions regarding the coasts, benefits, assumptions and potential constraints off the project option tree. This is an incorrect option. Your business case only song will not boost productivity, but it can describe how proposed project may do so. Option. For this is a correct option a business case that includes effective, pertinent and usable information and that the lines with company objectives is more likely to be approved for funding to conclude. Successful business cases are supported by three key processes. Proposing, selecting and tracking failure to implement effective business case processes can have adverse effects on their business. Researching your business case are only, and the lining it with your company's business objectives makes it more likely to be selected by our company's decision makers. In this course, you will find out what needs to be researched before writing a business case and how to determine whether proposed Project Alliance with corporate Strategy real Arcelor. How to determine the best Anglo of a business case and how to identify the information that should be included. As you see, I am including some exercises within the videos for your convenience and to reinforce their They're meant to be simple and slightly challenging and work if you stop the video lecture to reflect on the correct answer. If you have suggestions regarding these exercise inserts, please don't be shy. I will be happy to have them next. We're going to discuss about the research needed for a business case. 10. Business Case Research Topics: Nancy is a project manager for Red Rock Tours. This is a privately owned touring company based in Arizona. The company is the market leader in the Jeep touring industry. She is preparing a business case for the expansion off her businesses. Customer offering to believe that this project, if implemented, will mean increased says and the larger market share for the company. To give her project the best chance of being approved, Nancy needs to carry out a certain amount of research before she starts writing her business case. Researching a business case involves investigating four key aspect off the project. Benefits costs, assumptions and constraints. You need to research the benefits that the project will bring to the organization, such as increased inventor, return over access to new customers and reduced staffing levels. You need also to research the resource is and cost needed. To implement the new project, we need to research the assumptions being made about the company and the condition in which the new project will be created. We also need to research any factors that mainly meet the development off the project, such as budget and resource limitations or schedule restrictions. Currently, Red Rock tours simply Ran's Jeeps to customers. Now we believe that by looking after all these customers travel arrangements and accommodation requirements for the duration off a vacation, the company can offer a more attractive product and drive up company earnings. In order to reserve the project, Nancy needs to investigate the benefits that the new customer offer in came bring to the company, the Coast associated with changing the periphery. Some customers travel arrangements and accommodation requirements are scattered, too. The assumptions that she must make regarding the present and future off the company and any constraints that may limit the scope of the project, such as availability of stuff in the area. So what do you need to research before you start writing a business case? Benefits stuff, costs, outcome, assumptions, more constraints. What is in this picture and what is not? Option one. This is a correct option. You need to research the benefits that the project will bring to the company, such as increased inventory turnover, access to new customers and reduced staffing levels. Option toe. This is an incorrect option. It is not necessary to research stuff before we begin to write a business case option three . This is a correct option you need to research. The resource is and costs needed to implement the new project option for this is an incorrect option. The outcome of the project is unknown at this stage. Option five. This is a correct option. You need to research the assumptions being made about the company and the conditions in which the new project will be created. Option six. This is a correct action. We need to research any factors that may leave me the development of the project. Project costs fall into a number of areas. Personal costs overhead for the project consultant support, operational transition costs, installation cause and our sourcing costs. Personal costs include costs for all personally involved in the project, whether they are involved only for a short time or for the duration of the project. Examples off personal costs include the design team system test and implementation resource is and start that the required during the operation off the project. Overhead expenses, of course, that are incurred by the project personal over the course of the project. This include facilities, supplies, travel and any other personal related expenses. Consultant support covers the costs involved he hiring consultants to help with the project . Operational transition costs. Kovar Any changes in a war practices caused by the proposed project. This cost could include productivity lost during transition, training expenses and redundancy payments. Installation costs of the expenses incurred as a result of physical changes such as wiring or network. Establish off sourcing. Cost our coast associating with moving work to other organizations outside the company. So can you identify areas that project goes falling Tow personnel, office insurance, overhead litigation, operational transition from south and support. Always telling ship whether you think what is added on this list and should not be here. Option one. This is a correct option. We need to assess personal costs over the duration of the project. Option two. This is an incorrect option. Office insurance typically does not form part of project cost option tree. This is a correct option. Overhead costs such as facilities and supply expenses, are incurred by personnel during a project option. For this is an incorrect option. Education costs do not form part of project calls. Option five. This is a correct option. Operational transition costs Kovar Any changes in war practices caused by the proposed project Option six. This is a correct one. You will need to pay fees to any consultants who helped with the project and Option seven. This is a correct option. Installation off networks and wiring, for example, well from part of project calls, take a take your ease off business case. Benefits include preparation or savings proved customer satisfaction, increased revenue and market share and improved employee satisfaction. Improved customer satisfaction care result from changes to a business solution. For example, a new business solution can. He has customers experience with your products and services. Many business changes can increase revenue and market share or improve customer retention. If there is a direct link between a business change and an increasing revenue or market shirt, we can include these benefits in the financial return calculation off the business case. If there is no clearly this, improvements are categorized as qualitative benefits. Only new business processes can contribute toe improved employee satisfaction. You can mention such improvements in the business case as qualitative benefits. Sometimes employee satisfaction directly effects productivity and these improvements maybe include the themed operational benefits. For your project to be a success, you must complete cost and benefit analyzes to establish whether old benefits are identified. Quantified within the business solution, qualitative benefits are clarified and incorporated into the business solution. High level benefits are authorized and all assumptions are approved by the relevant department and on productive elements off the business case can be eliminated. Cost analyzes helps you to identify the costs associated with the implementation of your project and allows the identification off any hidden costs. A custom benefit analyzes establishes whether the project is worth. While it is important to involve your organization in the analyzes to help you prepare for the implementation process, unplanned changes to a project can invalidate even the most carefully planned cost analysed . Using the activity based costing model enables you to evaluate the impact on expenditure and revenue when changes occur to business processes. Resource is an overhead costs are easily calculated using the activity based costing, enabling you to see exactly how much is being spent on a particular product or service. Baker at Red Rock Tours, Nancy sets her team toe work on calculating the cost associated with expanded customer travel and accommodation, offering in terms off personal overhead, consultant support and installation requirements. The new approach requires specialized stuff to deal with travel and accommodation bookings by phone and in life. In addition, temporary design and development personal will be needed to implement the technical side of the project. The team will be sufficient computer facilities and support for the project, and some team members will need to travel to executive meetings to give project of days. Business and technical consultants will believe it to provide assistance implementing the new business model. A new approach enables customers to book their vocation package online, so reliable clients are based e commerce system must Mr Nancy Esteem calculates the potential benefits off the expanded customer travel package model in the areas off operational savings, improved testing, more satisfaction, increased revenue and market share and improve employee satisfaction. The project will mean savings for the company because the online booking facility reduces the need to maintain booking offices. The ability of the company to provide the complete vacation booking service to its customers. Willing to its customer satisfaction, the project increases the company's market shirt by expanding its offerings doing through complete vacation packages. This also attracts more reckon the new system makes employees jobs easier invocation package offering also enables commission based sales representatives to increase their income. Nance's team then compares costs and benefits to decide whether the customer travel package project is a worthwhile one for Red Rock tours. Ultimately, Nancy's cost benefit analyzes concludes that the project is indeed worse, for the result of the analyzes will be included in the business case. Assumptions are explicit statements used to describe the present and future environment. When you're doing a business case usually need to make septum assumptions, assumptions must be identified and documented in the business case. So the decision maker is familiar with the basis for alternatives. Business Case, Master Command certain assumptions about the proposed project. This assumptions should be tested with project stakeholders and operational managers before include them in the business case. We need to discuss the strength, weaknesses, opportunities and threats as well as any reason associative really implementing the solution at Red Rock Tours, Nancy Steam now needs to compile and document the assumptions associated with the Customer Travel package project to deem brainstorms the project assumptions and test them by discussing we'd project stakeholders and operation managers and issues that I brought to light in these discussions are document strange that can affect your project include scheduling constraints, budget constraints, quality constraints and technical constraints. Now, as his team needs to combine and document the constraints associated with expanded customer travel and accommodation project, the team brainstorms the project on strains and documents the constraints in each area. NASA's project must fall within the limits off the departmental budget for new projects. The maximum available funding is $100,000. The scope of the project's proposed online system is constrained by the fact that not all the company's potential customers have broadband Internet Fast Donald Capability Masses Project with involves some disruption off the company's existing services, so the project needs to be scheduled for low season. To minimize any potential downtime, the technical requirements of the project must fit in with the existing company network. Nancy Steam tests the assumptions and constraints by discussing them with project stakeholders and operational managers. At our example, company and issues that are brought to light in these discussions are recommended. This was a rather long lesson and packed with information, I would suggest to see it at least twice and use a pen and paper to structure information. It is up to you, of course, and I do realize that it might be hard to leave the comfort off watching videos for a plan on paper exercise. But a promise is good for learning. So this is what you need to cover in terms off research to make your business case and success. Next, you're going to find more about the research methods that will give you this information. Thank you for watching and for being so patient. You qualify for a free course from my portfolio. Just ask, and I'll send you a free coupon. 11. Business Case Research Methods: it is important to research the costs, the benefits, assumptions and constraints associated with the project and to include your findings in your business case. The decision makers who read your business case me this information. In order to weigh the pros and cons off the project, you need to know how to identify and categorise the costs and benefits off your project. To identify the cost associated with the project, you should form a team, choose a facilitator, identify the costs and enter the costs in a stretch. Your cost identification team should include the key members off the project team to ensure a good understanding off the key issues associated with the project and the possible costs . The facilitator should be someone who can remain impartial and helped the group to reach agreement off any issues that may arise. It would be useful to create a list of possible costs for comparison with the Coast Actually good over the course of the project, Unquantifiable coast should be noted and mentioned in your cause discussion in the business case, you should organize spreadsheet according to relevant time periods, such as a year, 1/4 for months, with a column for each unit of time over the expected project duration the subtitles off the coast. Off each project, elements for each period are added up to give the total cost. But let us try an example to make it even more clear. Audrey's a project manager for an educational software company. She wants to investigate a new system that will make the company's product that awaits more efficient. She wants to carry out some research on the issue before she begins work on a business case to identify the costs associated with the project would reform the team. Through this, a facilitator identifies the costs and enters the costs in a spreadsheet. All this cost identification team consists off members on the project team who are familiar with the product, database development technologies that will be used and what the proposed update would involve. Audrey asks both a software developer from outside the project team to perform the role of facilitator as he can provide impartial judgment on project related issues. The main cost of the project are those in court during a database cleanup, softer Porteous installation server upgrade and the hiring off an I T consultant. All three steam organizes the Coast data on a monthly basis to coincide with the main project. Meyer stops. Now let us try and exercise. Michael, project manager at an I T company, is putting your business case together for an online marketing campaign. Mike needs to identify the project calls. In which order should he take the steps? Have the following options to put in the right order a least the coast off designing advertisements and displaying them on a major portal site. Asked Jane, the accounts manager, to sit in on discussions. Input into a spreadsheet or research, development and execution. Cost for the campaign arranged by quarter and lastly, create a team including Marketing Personal, a graphic designer and 90 consultant to discuss costs. This take a moment to reflect and choose the correct answer. To compare. Create a team including marketing personnel, a graphic designer and the 90 consultant to discuss Coast is round as the first step. Your cost identification team should include the key members of the project team to ensure a good understanding of the key issues associated with the project and the possible costs half Jane, the account manager, to see thine own discussions is ranked as the second step. You should choose a facilitator who can remain impartial and helped the group to reach agreement on any issues that may arise leads the cost off. Designing advertisements and displaying them for Major Porter site is ranked as the third step. We should create a least of possible costs for comparison with the cost actually incurred over the course of the project in putting toe a spreadsheet. All research, development and execution costs for the campaign, arranged by quarter, is rent as the force that you should organize a spreadsheet according to relevant time periods, such as a year court and months with a column for each unit of time over the expected project direction. Once you've documented the cost of the project really to identify the benefits off the project, your benefit analyzes team should include key members off the project in so that everyone has a common understanding off the benefits and how they're linked to the regional project objectives. The team should also have a facility their team should brace store the benefits that your organization will gain from your project so that no potential benefit is over. Benefits should highlight tangible returns in terms off cost savings and incremental revenue. But quality to benefits such as increased customer satisfaction and employee satisfaction should also be included. You should include stakeholders and operational managers in this process to forced across organization or support for the business case. When you have compiled a list of benefits, you should categorize them into natural groups, combining similar aureus and eliminating any redundancies. Once you've done this, you can compare these benefits with the original objectives for the project and identify any gaps and oversight the neighbors who to align the benefits with the project objectives . Could you now identify the steps you should take toe? Identify benefits off a project you have The following options. One. Choose a team and facilitator to have a meeting to discuss all ideas for potential benefits . Three. Consider Onley tangible project benefits for least the benefits. Five. Identify any gaps or oversights, and six. Keep the process strictly within the team. What do you say? Well, this one is is option Want? This is a correct option. Your team should include key members off the project in so that everyone has a common understanding off the benefits option toe. This is a correct option. Your team should braced or benefits that your organization will gain from your projects. Of that, no potential benefit is over ocean tree. This is a new, incorrect option. Qualitative benefits such as increased customer satisfaction and employee satisfaction Trudeau's will be considered option for this is a correct option should categorize the least of benefits into nature groups combined in similar arias and eliminating any redundancies. Option five. This is a correct option. Comparing the benefits with original objectives for the project enables you to rely on the benefits with the project Objectives production. Six. This is an incorrect action. You should include stakeholders and operational managers in the process to force the cross organizational support for the business case. Having documented the costs off her project, all Ginny's now to identify the project benefits, she begins by putting together a benefits identifying team with a facilitator, the teammates and brainstorms. Potential benefits off the project increased that the base efficiency brings the tangible benefits off. Increased revenue and possible more movies in the database also brings qualitative benefits , such as greater time savings for temporary and improved customer service. These are the in line with the main project. Objectives off. Helping product managers stare stuff to work more efficiently and resettles. It is vital that your business case documents any assumptions that are made concerning the project. We should examine their assumptions. Three main categories. Product. Economic and market product assumptions relating to the product or service being offered by the project. Questions to be asked include. Does the project meet customer needs? We did have a measurable lead back on the company's bottom line. Are the costs prohibit E. Are the necessary materials easily obtainable? Are the product support systems established? Can the product be developed in a reasonable amount of time? Economic assumptions relate to the economic environment. In Reacher Project will operate questions you should ask our Is your industry currently healthy? How the economic changes affect your industry are your industry forecast. Positive market assumptions are those that concerned the potential market for the project. You should ask here, Is the market for your product or service clearly identifiable? Is the market ready for your idea? Is the market large enough to support your idea, or what barriers are there to enter in your market? To answer the many practical questions that will arise been documenting project assumptions . You should work with people who are actively involved at an operational level. Managers and consultants, for example, have the expertise to help you test project assumptions. Company directors, on the other hand, are more concerned with broad strategic issues than with the requirements off specific projects. Audrey has tested the assumptions off the business case with Robby and John, both of whom are stakeholders in the project. Doing these, she ensures the validity of her assumptions also gain support for the project across different departments. It is important to document and validate all assumptions and to keep track on. The resource is used for statistics and cost estimates and another exercise. Which steps Should you take the test assumptions for a project? These are your options. First, examine product assumptions. Second, discussing with project stakeholders and operational matters. Third, examine the company's past activity. Hold, discards them. Breathe a board of directors 50 examine economic assumptions and six examine market assumptions. And here are the correct answers option. Want. This is a correct option. You need to decide whether the product or service meets customer needs, how it will affect the company's bottom line. If it is viable in terms of cost on resource is and if it can be realized in a reasonable amount of time option toe. This is a correct option. This helps you to force the cross organizational support for the project option tree. This is an incorrect assumptions. Are statements used to describe the present and future environment? Know the best option for this is an incorrect option. The board of directors is not sufficiently engaged with a project to be able to. Dexter Assumptions Option five. This is a correct option. You should examine the economic environment within which your industry situated and try to anticipate changes. Option six. This is a correct option. This helps you to establish whether the proposed market East identifiable off sufficient size and ready for the product ourselves. Constraints Leave me the scope and content off very liberal alternative solutions to reserve the constraints on a project, you should talkto team members to determine the lightly availability off. Resource is we should also consider companies cooperate culture and the positive or negative effects that your proposed project could have on the company and its employees. Finally, you need to least and prioritize criteria for the project as they relate to the constraints . For example, you may need to rank criteria such a scheduled cost and quality northern off in persons. Audrey and her team are researching the constraints affecting the database project. To do this, the team must research the availability of resources, investigated corporate culture, at least the schedule and budget constraints. It is the quality constraints is the technical constraints and prioritize the constraints. The project will require some I t support during implementation. That's where does the hiring of temporary stuff The team review the company's rules, methods and procedures for the business areas affected by the project? The Department Our budget for new project It's only $70,000. The project needs to be completed before the start of the next financial quarter. The problem that the base needs to be accessed by customers. So it made me to contain more information relating to purchase price shipping, churches and sales stuffs than one developed solely for employees. Use the database needs upgrading and new software and 100 needs to be integrated into the existing system. Older esteem Decide that the schedule constraints should be prioritised over budgetary, technical and quality constraints and the final question which steps should be carried out when investigating. Project Constraints. Research The Availability off Resource is investigating the corporate culture research the competition list the scheduled budget quality and technical constraints and purifies constrains and plan the project outside the constraints Please stop the video until you figure out the right answer. We're going to check them together when you're back. Okay, I assume that you're back issue to debate. So let us go through our options and see which ones that call option one. This is a collect option you should discuss. The issue of resource is with members of your project. ING consists availability Option two. This is a correct option. This helps you to consider the positive or negative effects that your project could have on the company and its employees. Option tree. This is an incorrect option. The competition does not affect the projects Constraints option, for this is the correct option. These are constraints that directly affect implementation and delivery off your project. Option five. This is a correct option. For example, you may need to run criteria such a schedule cause in quality in order of importance. Option six. This is an incorrect option. Constraints indicate the perimeters off your projects, and it is not possible to work outside a great. This was a detailed description of the methods used for research next to final example. To see how this fits together. Steve is a sales manager at the National Bookstore with 79 branches traveled the United States. He wants to put together a business case for a supplier Extra Net website to make ordering more efficient and streamlined the supply and ordering processes across the stores. Categories that Steve researches are costs, benefits, assumptions and constraints. Steve forms a team with personal from different branches and chooses a business client is as a facilitator helplines records all cost associated with the development of the extra net from planning. True to roll out and training, Steve forms a team from members off his project, him and the facilitator from outside the team, the team least the benefits to the company off the extra project, for example, a more integrated order in process and increased customer satisfaction. Steve also test the projects assumptions by discussing them with sales and development. Personal. He's assuming that the project can be completed within a reasonable time frame that the cost with no Tron over budget and that the current demanding stores for the extra net system will continue. And finally, Steve researches the availability of resources for the project, the corporate culture and the scheduled budget quality and technical constraints. Because the extra knit ordering system needs to be rolled out quickly and seamlessly. Schedule constraint takes priority over budget off technical constraints. To conclude it is important to research the cost, benefits, assumptions and constraints associated with the project and to include your findings in your business case. Project Coast can include personal overhead installation operation and consultant costs. Benefits include operational savings, improve customer satisfaction, increased revenue and market share, and improved employee satisfaction. You must perform cost benefit analyzes to establish whether the project is viable and worthwhile. Planning a project you need to make certain assumptions about the present and future business environment. They should be tested with project stakeholders and operational managers and documented in your business case strange that can affect your project. Includes scheduled budget quality technical constraints. This one was also beat long. Thank you for your attention. Next, we're going to discuss both the strategical business case alignment. See you there 12. Aligning with Corporate Strategy: the company strategy is the plan of action used to allocate resources in order to achieve its long term course. And the organisation's corporate strategy is of central importance to a new project. You need to ensure that your proposed project does not go against the company's overall strategic direction. A mismatch between incorporate 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 formulate their strategy in a written for while others simply act out their strategy and do not articulated a company strategy integrates the company's major goals, policies and actions into a coherent whole, a strategy response to the needs of our organization in terms off its resources and external concerns. Well form strategy has to allocate organizations. Resource is to its advantage, taking into account organizations, competitive sees and shortcomings, anticipated changes in the business environment and competitive activity. Strategic decisions are primarily concerned with external rather than internal issues. Most importantly, strategic decisions need to address and influence by the company produces and the markets to which it with self to give an example. The Andean group or retailer off Electronique components, has a very customer focused corporate strategy. The company the years with only high quality manufacturers that offer complementary product lines. This enables Andi until, for customers both variety and consistency in the components they purchase, Onion aims to accomplish customer and revenue growth by increasing sales volume. On particular project lies a key part of onion strategy. Is it sail steam? Provide product expertise and a comprehensive customer support service. The long term on the UN expects to achieve growth organically and by creating partnerships in key geographic markets. New processes and practices created by a project need to support the corporate strategy. They must be in alignment with it rather than work against it. If the project does not align with the corporate strategy, the key decision makers will question the wisdom off the investment most likely not a probably. In order to establish whether a project is in alignment, you must forced identify the actual applications and benefits that are offered by the proposed project. Then you must family arise yourself with the company's corporate strategy of the processes of practice, is supported by a project directly assist the organization in affecting its strategy, then the project is alive. Finally, you need to quantify the benefits off the project. Run analyzed off The impact of the proposed benefit on the operation of the business project involving new Oren has processes can benefit an organization in a number of areas. Group productivity, individual personal productivity, business activities. Productivity projects involving group productivity tools can increase the efficiency off all or part of an organization applications the river. This type of benefits include the counting systems, workflow systems and inventory and production management systems. New processes supported by individual personal productivity tools. Kenny has the efficiency off individual employees examples off applications. Delivering this type of benefit are spreadsheets, more processing and graphic packages. Projects that promote time and space efficiency and business activities can have extensive benefits. Foreign organization. They can often increase sales, reduced costs, for example, reducing the need for office space. The's projects often involve applications such as workflow systems, email, Internet based communications and scheduling systems, having a certain organizations corporate strategy and developed released off applications and benefits that the project can bring to the company. The next step used to determine if these are in alignment a project, maybe said to align with the corporate strategy here. The processes and practices supported by the project directly assist the organization in achieving its strategy. If a particular aspect of the corporate strategy is not addressed by the project, this does not mean that the project does not. Ally got. The project should not work against any aspect of the corporate strategy. The final step in the process is to quantify identified benefits in terms of financial amounts. This process shooting through than analyzes off the impact of the proposed benefit on the operation off the business. This in roars an examination off the business process or practice that will be affected by the project. This enables you to predict the effect that the project will have on organizations cost structure or income. Suppose you are preparing a business case for a new procurement system for andya retailing off Really Tony Compliments. To ensure that the project alliance with corporate strategy, you need toe first, make a list of the applications and benefits of the project. Second, establish rather the applications and benefits of the project aligned with the corporate strategy, answered, quantified being identified benefits in terms of financial amounts. The procurement system provides a streamlined and efficient method of obtaining goods and services benefits off the system, including Christs, saving on purchases, improved timeliness off the purchasing process, reduced ways and improved supply chain efficiency. The efficiency off the A procurement system means Andean can always get the right product at the right price. And writer dis allies with Indians customer focused corporate strategy, which emphasizes excellent customer service. The cost savings that accrue from a more efficient procurement system are easily quantifiable. The project may also mean quantifiable increases in Andean say's income as a result, off improved customer service and product availability. That was just an example. Let us see an exercise. Peter is preparing a business case that proposes that employees should be able to work remotely and outlined the infrastructure required to make this possible. He must ensure that the business case aligns with corporate strategy. How can he do this? And you have, as usual, some options by identifying called a remote Working will benefit the company by indicating how the increased productivity and employee satisfaction uttering from the project can advance the company's goals by listing the potential drawbacks off remote working, such as the lack of social contact and communication among employees by quantified benefits . By reviewing the savings involved in the reduced need for office space, lower staff turnover and increased productivity, or by outlining the available resources for the project, which includes his research and development in members, please pause the video. If you need to think about the answer, deserve the right once. Option one. This is a correct option. Projects involving new re hands processes can benefit an organization in a number of areas . Option toe. This is a correct option. A project may be said to align with the corporate strategy of the processes and practices supported by the project. Directly assist the organization in affecting its strategy. Adoption tree. This is an incorrect option. Aligning the project with corporate strategy involves aligning the benefits. Now the dough backs option for this is a correct option. They should be expressed in terms of financial amounts. Option five. This is an incorrect option. This does not help you to determine whether the project aligns with corporate strategy. To conclude your organisation's corporate strategy is off central importance to a new project. You need to ensure that your proposed project supports the company's overall strategic direction before project does not align with corporate strategy, the key decision makers will question the wisdom off the investment and, most likely not approved. In order to establish whether a project is in alignment, you must forced identify the actual applications and benefits that are offered by the proposed project. Then you need to familiarize yourself with the company's corporate strategy. The project may be said to align with the corporate strategy. Is the processes or practices supported by the project directly assist the organization in achieving its strategy? Once you verify that the project alliance with a corporate strategy, you need to quantify the benefits off the project. Turn analyzes off the impact of the proposed benefits on the operation of the business. This should be expressed in financial amounts. Next topic is about identifying the decision makers not always easy, not always obvious. Thank you for watching 13. Identifying Decision Makers: business cases return to provide company decision makers with that that they need to determine the viability off investment in your project in order to convey your message effectively it wars, devoting sometime to researching the people to whom the case will be presented. We're researching the people who will decide whether your project is approved. You need to ask three questions. Who are the decision makers for my case? What are the interest in my case and what questions will they ask? Depending on the project and the company, the key decision makers could be company owners and executives, corporate directors or stockholders. They could also be research and development teams, service and marketing teams, financial services and accounting teams or banks and outside founding sources. If your company is relatively small, the owners or partners may be the decision makers in large companies. Decisions may be made by a division president instead of the CEO. All the choppers now can you identify the meaning of the term decision makers from a list of possible definitions water? Who are the decision makers? The people who decide what goes into your business case? The people who decide whether your proposed project is approved for investment or the people who refer to your business case throughout the life cycle of the project. Yes, you're right. Option Want. This is an incorrect option. You and your team decide what goes into your business case, but you are not the decision makers. Option two. This is a correct option. Examples of decision makers are company executives, directors, managers and marketing and development stuff. Option tree. This is an incorrect option. Your business case may be referred to by different groups throughout the project cycle, but they're not all decision makers. Some decision makers may read only the executive summary to see whether your idea has married. While others may focus on the business case presentation decision makers, professional interests often influence what they look for in a business case. Counting personnel may go directly to the financial reports to look into profit and experience projections. Sales and marketing personnel may be interested only whether there is a market for your idea. Examples of questions that you may have to answer include a fall. How will the product or service be promoted in price? Does a market exist for the product or service and is the market ready? Howard Customer service Be hander water. The labour requirements for the project Is the budget for the project realistic? What materials will be needed for the project? Are these materials readily available? Our current facility sufficient to implement the project, identifying the decision makers, defining their interest in your case and finding answers to the kinds of questions they may ask, will help you to prepare and present a strong business case. Your research in this tree arias will help to assure the approval off your new proposal. So how do you go about identifying the angular business case should take? Identify the decision makers. Identify the decision makers interest in your business case on for incentives to individual decision makers to induce them to approve your project. Identify the questions Decision makers may ask or include only positive information in the business case. Option one. This is a correct option from different decision makers for different projects. Different company structures Option toe. This is a collect option. Decision makers. Professional interests often influence what they look for in a business case. Ocean tree. This is an incorrect option. We will not influence the decision makers by trying to bribe option. For this is a correct option. The decision makers questions will depend on their specific interest in your case. Option five. This is an incorrect option. Business case should provide decision makers with older that that they need to determine the viability off investment in your project. To conclude decision makers are probably the most important audience for your business case , as they have the final say on whether the project is approved for funding at other individuals or groups will also need to refer to a business case for a variety of reasons. They may need to refer to the case to stay focused, to check their own involvement in the case and to explain the concept off new managers. If there is a management change during project developed to secure commitment and funding for a new product or service, it is important to present your business case effectively to the decision makers. But bear in mind that the audience for your business case is not restricted to decision makers along different groups and individuals will need to refer to a business case throughout the life cycle of the project. Next video will be about influencing the decision makers. This is why we build an impressive business case. So see you there. You have already learned the law, but are you ready to prove that you can be in the business case? 14. Influencing Decision Makers: When you are preparing a business case, you must include the information that's relevant to and will influence the decision makers . Different decision makers have different expectations from business proposals. Company executives want to know how a new product or service fits into the industry, whether it is related to the industry or opens up another direction. These concepts are known as vertical integration and horizontal integrity. Vertical integration, of course, when the company stands into related business. An example would be a coffee company that home sales coffee to retail outlets and then decides TOE Open its own retail outlet. Resulted Integration occurs when a company six to sell different types off a single product to different markets. An example. Off Horizontal Integration is a clothing company that runs different retail outlets for most luxury and price conscious closing markets. Company owners have executives need to know whether the cost of developing a new product will be offset by the eventual profit they must commit to the new product. To the extent that they will approve the costs, corporate directors and stock holders must commit to new product development, they will have some of the same questions as owners and other company executives, such as how well the company stopped be affected. What would be the cost? I heard the cost affect stopped evidence. And so marketing and development personal can provide information for your business case, and it can facilitate its approval through their commitment to the idea. Marketing personal can help you determine whether market exists for the product or service whether the market is ready for it. They can also provide information on promotion and pricing, research and development. Stuff can have to develop and modify the product. Prototype. Help establish costs. Identify possible production problems. Show commitment to the new product idea. Some companies, depending on the size and financial situation, need to secure outside investment to support new product developed. This is through off your company. You may need to present your business case. Bankers and other financial research managers, such as venture capitalists. The South side groups must commit you of new problem all service idea. The business case helped them to determine whether your idea is a high or low risk for long . By considering the needs on this key groups and engaging them in the process, we can prepare an effective business case that helps you to secure the commitment of founding you needful in Project Run is preparing a business case for the establishment off a new PICO Mersa. He needs to influence the number of decision makers by focusing on the key decision makers , and their concerns are most successful in communicating how his project could benefit a particular areas off interest. Allan works for an I T company, and he needs to persuade several decision makers in the company to approve his proposal for a new corporate intranet on makes no connection between the implementation off a cooperating on it and overall profitability or share price off the company on face to give any information on the marketing potential for the cooperating grenade project or whether the necessary development resources are a bit. Because Alan did not use his business case to address the specific concerns off the decision makers, he failed to convince the decision makers at his project WAAS World implementing to concrete decision makers are the people who will decide whether your project is approved. Identifying the decision makers defined their interest in your case and finding ourselves to the kinds of questions they may ask will help you to prepare and present a strong business case. Different decision makers such as company executives, stockholders managers and outside financed groups have different expectations from business proposals. In addition to the decision makers, many other individuals or groups will need to refer to your business case for various reasons. Throw the project life cycle. So now you know how to convince decision makers and you know what, including your business case, which is a lot, but not all that you need to be. Success are going to go for the details, and you will learn something more about good business case writing and design practice. 15. Business Case Design: the layout and design off your business case document can help you get your case approved. Valid research and good writing are essential components. Often effective business case, however, creating a document that it's easy to read and professional looking can have to ensure at your business case. Israel. Think off a publication or document that you found impressive from a design point of view, which design features off. The document impressed you most. A well present business case has a better chance off succeeding. It impresses the decision makers and demonstrates your teams professional is well presented . Business case can help you avoid some common pitfalls, such as insufficient focus, lack of structure and poor spelling and grammar. Some business cases contain generi content that fails to focus on the specific business problems solutions your business case faced or for a compelling value proposition. It will be rejected. You often business cases are used as information comes with no persuasive structure or order to the contact. This makes it difficult for the reader to find the relevant information. If the key points off a business case are buried beneath verbosity or jargon with no visual or cognitive cues to interest the reader. The business case may not be fully read or understood. Business case is instantly discredited by such credibility killers as misspellings at random capitalization. Grandma in Punctuation Errors and Inconsistent former Thing. Rhonda, a senior executive at the software company, has just read business case, proposing a new middleware installation. She's unimpressed with the case as it was presented to her. The proposal didn't appear to meet any or for current business needs. I just couldn't see how middle where would add value to the company's operation at this time. There was a lot of information in the business case, but it didn't seem to be very organized or call here. For example. I found it hard to see the relevance off a lot of the technical information. I try to identify the main points of the case, but it was difficult. It has been a little shorter and a little more clearly written. I might have had some hope. I spotted several punctuation and spelling errors in the document. It even spelled middleware incorrectly. Frankly, it didn't inspire a lot of confidence from the like. Many corporate decision makers require certain things from a business case she needs to be able to read it easily to identify the relevant information quickly and to have confidence in the authority of the business case. Good layout and design can ensure legibility coherence on authoritative communication off the most important information where it can't spelling out the pages off your business case . Usually sure that there is sufficient white space on your pages, both in lines basing and page marches. It is best to use single line spacing with paragraphs and double eyes spacing between paragraphs and before headings should leave a margin off one and 1/4 inches on the left hand side of the page. Roland, for buying the emergence on all other sides off the page should be one in tried to provide a frame for the contact. We should use the following elements toe help Make the text on each page more eligible paragraphs. Formatting bullet points. Paragraphs should be a short as possible for eligibility. For a lap should deal with only one main point. You should use a special format for headings to set each topic and section apart. Use boldface, underlining, increased for size or combination off. All of these where possible we should use more points to present information. Concisely, dis eliminates the need to use full sentences. Those savings based it's important to choose an easy to read business like typeface. For your business case. Document design experts recommend using Sorry for text and Surrey for San Serif four headings. Research suggests that serif typefaces are more eligible than Sunseri for large blocks of text. Were there some serif typefaces are more suitable for headings. The point size off your typeface is also important. You should choose 10 point or 11 point time for all body Copia, 12.14 point type or section headings and sub Haddix. If you're typefaces more than 10 points, your document may be difficult to be. Syria regional manager for a closing within company is writing a business case for the creation off a new records management system. He has created a draft of the business case to show how he wants to document to be laid out . Siri has incorporated plenty off white space in the marches and between headings and text he has used consistent for my thing, using different styles from main headings and subheadings, his punctuation and spelling her correctly could improve readability by breaking up the solution, description and cost and benefit analyzes paragraphs into shorter wants. You could also use bullet least to break up the text with possible one idea example. To learn from you should bind your business case in a durable, high quality cover. For the most professional looking results, you should choose a black, blue or burgundy cover. The front car should display the name off the business case. The date optionally the authors off the business case. So to conclude it is important to use the right layout, typeface and cover for your business case. Well designed and professional looking business case creates a positive impression and tells company decision makers that you have done your homework. Correct. Use off white space for a gloves four month thing anti. Facing a business case makes the content easier to read and helps draw attention to the important points. Minding your business case in a good quality core enhances the professional off the local next. More about the design off your business case 16. Benefits of Good Writing and Design: the way right and design your business case document can influence how it is perceived by your company's decision makers writing a business case in force more than them being information into a document. The production off a good business case. Documenting boards, designating the writer writers, organizing the content and implementing layout and design guidelines for the finished document. Naomi Approach your manager at her company has completed the necessary search for a business case and is now ready to begin writing. Produced the business case. Don't commend Naomi must first designated writer or writers off the business case. The writers. Then I need to decide how to organize the content and how the business case Mr Be laid out in design. Would. Writing a design in your business case can help you to ensure that the business cases red, convey your message effectively to your audience and emphasized the information that you would want to emphasize. Because Naomi Steam presented a well designed and were written business case to the company's decision makers. Her proposal was received favorably. He secured the funding that you needed for her project, so why it is important to use good writing and desire in your business case to ensure that the business cases ran to make it through better research. To convey your message effectively to its audience, to girl defending for your project, or to emphasize the information that you want to emphasize. What would you choose? Option want? This is a correct option. Decision makers typically receive a lot of business cases, so it was making sure that your case looks readable and interesting. Option toe. This is an incorrect option. There's no substitute for researching your business case, but the good presentations makes it easier. Treat Option Tree. This is a correct option. Well designed were written. Business Case conveys your message more effectively than badly presented case option for this is an incorrect option. Good writing and design help a business case to succeed, but they do know off themselves. Guarantee success. Option five. This is a correct option. You can write and design a business case to highlight important information. Writing a business case involves more than just inserting information into a document with writing in design. Your business case can help you to ensure the business cases read their messages conveyed effectively to its audience and The information that you want to emphasize is, in fact, emphasized in this section, you learn how to identify who on your team should be involved in writing your business case . You found out how best organized the content off the B in this case and how to identify the most appropriate writing style. You learned also about layout and design considerations for the finished business case. Next, very simple but important topic. Who should be involved? Writing a business case After this, you should be able to build your own business case and for sure, if you want, you will have the option to practice. 17. The Business Case Writer: Helen, a financial manager in an architectural firm, is working on a business case or unimproved payroll system. She and her team have done in the necessary research, aligned the project with the company's strategic goals and identified the key decision makers. Now Helen needs to write the business case. Everyone on your project team should be involved in the development off 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. Three people are involved on Helen, Steve, Lisa Rules and Roll. Jalan needs to decide which of them should be involved in writing the business case document. Only one or two people should actually write the business case. However, the content of the business case is usually the result off a team effort. The business case writers should be members off the project. They should have a novel understanding off the project and be able to sensitize all of the teams contributions into one document. Keeping the number of writers toe minimal ensures a consistent style traveled the document business case should not contain excessively technical language or jargon that may not be understood by the audience. You should bear this consideration in mind when you choose a writer. If a member of your team has prior writing periods, this may be a useful skill for writing a business case. Finally, your chosen writer writers should have enough time to devote to writing the business case. It is not a good idea to choose someone with restricted availability, regardless off their suitability for the writing task. Helen meets Lisa Roosa Row to discuss the designation of the business case writers the basis off her discussion with her team. Helen decide that she rules Trude Right, the business case. As the project leader, Helen has the most comprehensive overview of the project, as well as the most active communication channels with the other team members. Rules has experience in putting together marketing reports using this parrot, so cysts of our skills will be usefully sensitizing. The team members varied contributions into a single document to conclude to ensure a broad range of perspectives every on your project ING should be involved in the development off the business case, however, only one or two people should actually write the business case itself. The business case writers should be members of the project in have another understanding off the project and be able to sensitize all the teams contributions into wonder commit Keeping the number of writers to a minimum insures a consistence time throughout the document. This ends this section We're now business case, right. If you're ready for some practice here it comes next. 18. 12 Steps Business Case Development: congratulations. You finish this course, and now you are able to develop your own business case. After completing this course, you are able to identify the benefits of writing a good business case. Recognize the functions off a business case, recognized the elements off a business case on recognized the marketing components that should be included in a business case. After completing this course Euros able to recognize the importance of researching your project and aligning it with business processes. Apply the methods used to research background information. Forgiven Business case. Recognize one needs to be researched before writing a B in this case. Determine whether a proposed project aligns with corporate strategy in a given scenario. Identify the steps he used to determine the best angle for a business case and address the concerns of decision makers for a business case in a given scenario. And finally, after completing this topic, you are able to recognize the importance of good writing and design. I recognise who should be involved in writing a business case on analyze a business case using document designed priest sport. Thank you for taking my course. Please don't forget to leave a review if you have questions, comments or any related requests. I will be here to respond. If you're interested in other management courses, check my profile. This is it for now. See you next time.