You have an idea for a new project and you want to present it to your supervisors or potential investors. You think that the reasons for and the benefits of your project are so obvious that you do not have to explain them in any detail. That may, however, be a problem. The people who will decide upon the fate of your project expect you to present strong arguments. They will not give you their trust and money if you do not have a persuasive business case. How should such a business case look like?
1. Describe the current situation
First, document the situation your project starts with. Describe the current business model of the environment the project is to be implemented in, and the tasks performed by people involved in individual processes. To get information, you will need to speak with experts as well as workers whose work helps to shape the current environment.
2. Describe the expected future situation
Explain what your project should bring. Be as specific and careful as when describing the current situation. Focus on the assumptions that are likely to occur and prepare to explain why the changes you propose are necessary.
3. Describe how to implement the changes
Focus on the different steps needed to carry out your project. It does not have to be a detailed plan describing all the individual tasks involved. It should be an projected timetable and a list of other necessary resources. The people you are submitting the project to should understand how they can help you carry out the project.
4. Estimate the return on investment
Do not submit your project without this point. You must be able to quantify how specifically your project will help. If your employer or investor gives you the necessary resources, what will he get back? Try to submit as many hard numbers as possible, not just general criteria such as "higher productivity". Keep in mind that your estimates will be questioned and so prepare very carefully.
To sum up, a project business case should include:
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reasons to implement the project,
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expected benefits of the project (including possible negative impacts)
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description of the process of project implementation,
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time schedule and definition of additional resources needed,
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evaluation of the investments needed and the ROI,
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evaluation of the main risks.
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