A well-crafted business case is critical to help an organization to make the right decisions, and to invest in the right projects. It provides the essential information to determine that a project will deliver value and that, compared to alternative investments it is in line with organizational priorities.
In today’s climate of limited resources, organizations are more or less obliged to focus on the highest value opportunities. A business case assesses the costs and benefits of a potential initiative. It provides the justification for the project in terms of value added to the organization and is used to select and prioritize opportunities.
A strong business case explores all feasible approaches to a given problem and enables business owners to select the option that best serves the organization. A ‘high-level’ business case is often further refined over time, as assumptions and costs become clearer.
But, how do you decide the best course of action for your company to take advantage of new opportunities? You must develop a business case to explore multiple alternatives before making a recommendation to support a particular option. Our new course will show you how to use a business case to define an opportunity, identify and analyze alternatives, and present your final recommendation to key stakeholders. You will learn to:
- Clearly define the opportunity you want to address in your business case
- Identify and analyze a range of alternatives
- Apply risk assessment techniques to forecast and mitigate issues
- Prioritize alternative solutions according to key decision criteria
- Present your case to key stakeholders
Check out some course extracts from our Youtube channel below: