5 Preparations You Should Make Before Writing An Effective Business Case
Business Case is a tool to identify whether your project is worth of putting money in i.e. investing (Read more about Business Case). Getting approvals and investment for your project depends on how strong your Business Case is, hence a Business Case should be prepared very carefully and considering each aspect of the organizations. To make to Business Case effective, I am sharing 5 Preparations You Should Make Before Writing An Effective Business Case.
Read my previous article What Is A Business Case? to get short and simple but complete information about Business Case.
#1. Identify The Business Objective
Clearly identify the Business Problems, Objectives, Pain Point and bottleneck which your business case Business Case will address. It’s very important to understand the business problem and defining an agreement about the scope between the person authorizing the business case and those who will execute analysis. You can use SWOT analysis SWOT Analysis as one of the tools to identify the internal strength and weakness and outside opportunity and threats. This will help to find out the GAP and to identify the potential solution to address them.
Tip: You should have clear answers for below questions to get started with Business Case:
1. What are you doing?
2. Why are you doing?
#2. Meet Your Business Stakeholders / Clients
Have a meeting with business stakeholders, preferably conduct a brainstorming session with your stakeholders to understand the key problem because the clear understanding of a problem will help you to make a strong case for the proposed project. Understand your stakeholders and let them talk most of the time, this way you will be able to get most out of the meeting. People share more when they feel comfortable, hence don’t let your business or stakeholder feel hostile.
Tip: Have a healthy relationship with your business stakeholders or clients to get their maximum support in successfully implementing your project.
#3. Have A Brainstorming Session
Conduct a brainstorming session to identify the potential options or solution to address the business problem or to achieve the organization’s goal. It helps to get support from key stakeholders as well as your business to get the project approved. It also helps to determine the most feasible solution for the business problem. You should also have the knowledge and expertise regarding relevant business operations and you must be open to accepting inputs from other team members and business leaders.
#4. Review Organizational Principle
Each organization has their own principle and missions and your project should be in line with the organization’s mission and to achieve this one should reviewing the mission statement or organization’s principle because it can allow you determine whether the business case and proposed resolution options further the ultimate mission and goals of the business. In most cases, you will be following the directions of a superior whose responsibility is to confirm compatibility between mission and the alternative solutions you provide.
#5. Review Your Business Case
Once you have identified potential business problems, issues or goals, and you also have the potential options for solution, next step for you would be to briefly review your business objective which was created during the initial business planning phase of the project. You also need to make sure that your business case is in-line with the mission statement in terms of complying with your organization’s principle.