"Writing a persuasive business case" by Vimal

"Writing a persuasive business case" by Vimal

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  Vimal Mohan (flydubaiairlines)
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  Importance of aBusiness Case: Initiatives that are 1) Viable 2) Desirable 3) Achievable Helps the organization to choose and invest in the right initiatives:
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  Problem / Opportunity Drivingfactor / Enabler Value Foreseen Risk Involved Cost Involved • What are we planning to do? • Why do this? • Who else has done this? • Why now? • What if not now? • Why invest so much? • What if we over-run cost? • How big is the risk? • What if we fail to achieve? • What is the ROI? • When is the breakeven? Project Team Management Board Business case view:
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  Key components ofa Business case: Strategy Analysis & Recommendation Plan ValueProblem / Opportunity Impacted department Driving factor/ Enabler Fit to strategy Scope Options evaluation Cost Benefit analysis Risk analysis Constraints Resource Involved Cost Involved Information Time Involved Reference Stats Business Value Critical Success Factor Assumptions Milestones Recommendation Intangible benefits Overview Current Situation Solution Overview
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  Present the ROIin monetary value. Draw parallels if possible. Demonstrate similar success stories or initiatives done in the industry Ensure the short term and long term ROI is illustrated in monetary value. Layout the timelines and milestones planned and the value targeted during each milestone Ensure the business case clearly articulates the intent and the underlying need that needs to be addressed. Articulate the foreseen business value in context with something that decision makers can relate. Align the business case value, to the organization goals / objectives / strategy / vision. Ensure the projected value is measurable and list all the parameters on which it can be measured. Layout all the assumptions considered and provide justification for each assumption with measurable parameters Highlight the risks that you are aware of and demonstrate the mitigation plan to overcome this risk Present alternate options and justify your recommendation based on the analysis done on weighable parameters Summarize the business case content with key relevant facts highlighted What makes a business case persuasive?
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  • Ensure properresearch is done before drafting the business case. • Ensure the problem or opportunity you’re addressing is real, and does in fact need addressing. • Keep the business case document brief . Provide only necessary Information • Maintain a positive language throughout the document. • Be honest about grey areas, which require further investigation. • Keep the business case as a working document • Keep supporting documents as reference section in the business case itself
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  “Build a businesscase, requesting your organization / department head to grant budget, for upgrading existing transportation options” Define the problem / opportunity Describe the driving factors for this request Do a strategy alignment for your recommendation List alternate options Justify your recommendation with benefits analysis Elaborate the desired outcome / value and the critical success factor List your recommendation Highlight Risk and Mitigation plan Provide cost, time resource and other information Define the Critical success factor
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  www.linkedin.com/in/vimalmohanmba/ Thanks for yourattention! Any Questions? [email protected]