Business case
Introduction
People have had a misconception over the years of what is a business case. Some people argue that a business case is Microsoft Excel spreadsheets that highlight the financial performance of a project. Others have an argument that it is required by a financial department to get presented to the executive body. On the other hand, some people have given ideas that a business case is an intricate documentation and approvals that are discouraging. All those represent what a business case is not. What then is a business case? A company is a documented argument whose intention is to persuade a decision-making body to prove an activity.
A business case has five building blocks where some of the blocks have components. The components are typical of any business case.
• Business case introduction and overview
• Business case assumptions and methods
• Projected business results
• Sensitivity and risk analysis
• Conclusions and recommendations
• Business case template
Executive Summary
The first section of the business case provides the problem surrounding the organization. It also highlights the proposed project that will address the problem. It provides general information about the project in hand and several issues surrounding the project.
Issue
The issue at hand the project will address falls here. However, the solution to the problem is never pre-empted. The details of this section enable the decision-making body to have view the problem in a specific way. The advantage of it is that it helps to alienate other organization’s problems and solely concentrate on that alone.
Anticipated outcomes
The details fall here to describe comprehensively the benefits that the organization is going to gain if the management approve the implementation of the proposed project
Recommendations
In case of Smith Consulting, recommendations section summarizes the details of the approach for how WP project will address the problem. WP Project will migrate the data and functions of the current mainframe system methodically to the new web-based platform.
Justification
Justification section will contain important data that will enable the executive at Smith Consulting make decisions whether WP Project is worthy to be funded. The details under this section are important because the executive will also have gained valuable insight on the impact of not implementing the project.
Business case analysis team
It presents the team of developers of the business case. The executive at Smith Consultant will have a chance to view the team members and each their role. The details of this section are core to Smith Consultant because the management will have a better understanding of each person’s specialization.
Problem definition
Problem Statement
Under this section, there will be a description of the problem WP Project is meant to solve at Smith Consultant. The problem of Smith Consulting is technological. Smith Consulting has been using a mainframe system to manage pay and employee administration. But the system has not been improving with the growth of some employees. It has burdened the headquarters. The problem stated here will act as an open eye to the executive to see the need for change.
Organizational Impact
Details under this section are the specific effects that WP Project will bring to Smith Consulting. WP Project will affect Smith Consulting tools, processes, and roles. In terms of tools, the existing administration platform will be done away with completely. It will result in training employees on the new system. Impacts on the organizational enable the executive to plan for any costs arising from effects and change of roles.
Technology Migration
Smith Consulting will migrate from legacy platform to Web-based platform in phases. Migration in phases will have minimal disruption to the firm’s operations, administrative, and payrolls. The migration will get divided into three phases namely phase 1, phase 2, phase 4, phase 4, and phase 5. The information here is important to the decision-making executive. They will have knowledge of whether migration will cause disruptions that may lead to loss of huge amount income for the company.
Project Overview
All the high-level information that pertains to WP Project will get discussed under this section. The project’s goals, descriptions, performance criteria, assumptions, and milestones will be addressed. The project overview will provide a detailed description of how WP Project is going to address the existing problems at Smith Consulting.
Project Description
The WP Project will analyze several approaches to on how to replace the current legacy payroll and administrative system with a Web-based platform. The details under this section will enable Smith Consulting executive to see the immediate impact of the project.
Goals and objectives
Goals and objectives of WP Project will get listed under this section. The goals and objectives are those WP Project supports and how it is going to address them. WP Project will address these goals among others. The executive will, therefore, evaluate to see whether they are in line with overall goals and objectives of Smith Consulting.
Project performance
It is the highlight of the measures that will be used to measure WP Project performance and outcomes relating to key resources, process, and services. Through the outcomes, the executive will be in a position to gauge whether the fund will have gone to waste. They will have been able to gauge benefits against the cost of the project.
Project assumptions
Details are listed in project assumptions section to highlight the assumptions of the proposed project. The details are also meant to show how the list of assumptions will grow with project development. In case of WP Project, it is assumed that funding is available for training. Executive will see the assumptions that might be in contrary to the goals and objectives of the company and decide on the fate of the project it goes farther.
Project constraints
Constraints are almost similar to assumptions. Constraints show the difficulties or advantages that there are with the project. In case of WP Project, there is a constraint that, the resources to support the project get limited. This information is core to the executive since they will note any problems with the project earlier.
Major project milestones
The section lists the major phases and stages of the project their expected dates of completion. The information will be important to the decision-making team to see how long the project will take. They will be able to decide whether to fund or not to depend on the time of completion.
Strategic alignment
All the projects development needs to be in line with the organization’s strategy. It is to enable value addition to the company. The information is important in that it will note any project whose strategy and plan is not the same as the company. Such projects should not get undertaken.
Cost-benefit analysis
It is an important element of a business case. It highlights the benefits that the company is going to derive from the project once it gets implemented. It compares the cost of the project and the expected benefits. The management in a firm will root their decision on this component. It is going to determine whether the project is worth investing in or not.
Alternative analysis
In case a project has not been confirmed, there is a need to have a project. Expected alternatives should have a brief summary. Some alternatives could be doing nothing or remaining with the current system. Alternative helps the management to question other alternatives. Questioning leads to selection of the best project.
Approvals
The business case is an official document that should contain signatories to show approval or disapproval of the project. It gives the project team green lights to take the next step in project implementation. It helps the executive board to have a say in the project without which project cannot move on.
Conclusion
The business case is not just a document. It is an important official document whose effects get felt from the top management. It should, therefore, be prepared with precision following clear guidelines.
Sherry Roberts is the author of this paper. A senior editor at MeldaResearch.Com in pay someone to write my research paper services. If you need a similar paper you can place your order from write my research paper online services.
People have had a misconception over the years of what is a business case. Some people argue that a business case is Microsoft Excel spreadsheets that highlight the financial performance of a project. Others have an argument that it is required by a financial department to get presented to the executive body. On the other hand, some people have given ideas that a business case is an intricate documentation and approvals that are discouraging. All those represent what a business case is not. What then is a business case? A company is a documented argument whose intention is to persuade a decision-making body to prove an activity.
A business case has five building blocks where some of the blocks have components. The components are typical of any business case.
• Business case introduction and overview
• Business case assumptions and methods
• Projected business results
• Sensitivity and risk analysis
• Conclusions and recommendations
• Business case template
Executive Summary
The first section of the business case provides the problem surrounding the organization. It also highlights the proposed project that will address the problem. It provides general information about the project in hand and several issues surrounding the project.
Issue
The issue at hand the project will address falls here. However, the solution to the problem is never pre-empted. The details of this section enable the decision-making body to have view the problem in a specific way. The advantage of it is that it helps to alienate other organization’s problems and solely concentrate on that alone.
Anticipated outcomes
The details fall here to describe comprehensively the benefits that the organization is going to gain if the management approve the implementation of the proposed project
Recommendations
In case of Smith Consulting, recommendations section summarizes the details of the approach for how WP project will address the problem. WP Project will migrate the data and functions of the current mainframe system methodically to the new web-based platform.
Justification
Justification section will contain important data that will enable the executive at Smith Consulting make decisions whether WP Project is worthy to be funded. The details under this section are important because the executive will also have gained valuable insight on the impact of not implementing the project.
Business case analysis team
It presents the team of developers of the business case. The executive at Smith Consultant will have a chance to view the team members and each their role. The details of this section are core to Smith Consultant because the management will have a better understanding of each person’s specialization.
Problem definition
Problem Statement
Under this section, there will be a description of the problem WP Project is meant to solve at Smith Consultant. The problem of Smith Consulting is technological. Smith Consulting has been using a mainframe system to manage pay and employee administration. But the system has not been improving with the growth of some employees. It has burdened the headquarters. The problem stated here will act as an open eye to the executive to see the need for change.
Organizational Impact
Details under this section are the specific effects that WP Project will bring to Smith Consulting. WP Project will affect Smith Consulting tools, processes, and roles. In terms of tools, the existing administration platform will be done away with completely. It will result in training employees on the new system. Impacts on the organizational enable the executive to plan for any costs arising from effects and change of roles.
Technology Migration
Smith Consulting will migrate from legacy platform to Web-based platform in phases. Migration in phases will have minimal disruption to the firm’s operations, administrative, and payrolls. The migration will get divided into three phases namely phase 1, phase 2, phase 4, phase 4, and phase 5. The information here is important to the decision-making executive. They will have knowledge of whether migration will cause disruptions that may lead to loss of huge amount income for the company.
Project Overview
All the high-level information that pertains to WP Project will get discussed under this section. The project’s goals, descriptions, performance criteria, assumptions, and milestones will be addressed. The project overview will provide a detailed description of how WP Project is going to address the existing problems at Smith Consulting.
Project Description
The WP Project will analyze several approaches to on how to replace the current legacy payroll and administrative system with a Web-based platform. The details under this section will enable Smith Consulting executive to see the immediate impact of the project.
Goals and objectives
Goals and objectives of WP Project will get listed under this section. The goals and objectives are those WP Project supports and how it is going to address them. WP Project will address these goals among others. The executive will, therefore, evaluate to see whether they are in line with overall goals and objectives of Smith Consulting.
Project performance
It is the highlight of the measures that will be used to measure WP Project performance and outcomes relating to key resources, process, and services. Through the outcomes, the executive will be in a position to gauge whether the fund will have gone to waste. They will have been able to gauge benefits against the cost of the project.
Project assumptions
Details are listed in project assumptions section to highlight the assumptions of the proposed project. The details are also meant to show how the list of assumptions will grow with project development. In case of WP Project, it is assumed that funding is available for training. Executive will see the assumptions that might be in contrary to the goals and objectives of the company and decide on the fate of the project it goes farther.
Project constraints
Constraints are almost similar to assumptions. Constraints show the difficulties or advantages that there are with the project. In case of WP Project, there is a constraint that, the resources to support the project get limited. This information is core to the executive since they will note any problems with the project earlier.
Major project milestones
The section lists the major phases and stages of the project their expected dates of completion. The information will be important to the decision-making team to see how long the project will take. They will be able to decide whether to fund or not to depend on the time of completion.
Strategic alignment
All the projects development needs to be in line with the organization’s strategy. It is to enable value addition to the company. The information is important in that it will note any project whose strategy and plan is not the same as the company. Such projects should not get undertaken.
Cost-benefit analysis
It is an important element of a business case. It highlights the benefits that the company is going to derive from the project once it gets implemented. It compares the cost of the project and the expected benefits. The management in a firm will root their decision on this component. It is going to determine whether the project is worth investing in or not.
Alternative analysis
In case a project has not been confirmed, there is a need to have a project. Expected alternatives should have a brief summary. Some alternatives could be doing nothing or remaining with the current system. Alternative helps the management to question other alternatives. Questioning leads to selection of the best project.
Approvals
The business case is an official document that should contain signatories to show approval or disapproval of the project. It gives the project team green lights to take the next step in project implementation. It helps the executive board to have a say in the project without which project cannot move on.
Conclusion
The business case is not just a document. It is an important official document whose effects get felt from the top management. It should, therefore, be prepared with precision following clear guidelines.
Sherry Roberts is the author of this paper. A senior editor at MeldaResearch.Com in pay someone to write my research paper services. If you need a similar paper you can place your order from write my research paper online services.
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