Montreal
- Montreal QC H3H 1J1
- Mobile: +1 (514)-746-5746
- Direct: +1 (514) 962-2671
- or please use the form on the right-side
Describe Project Value Using a Business Case. It can be hard to compare and prioritize the projects in your portfolio because there are many different types of projects. Some projects might increase revenue, some might decrease costs and some might help build internal capability. All of them have some benefit but it may not be easy to know which ones are the most valuable and which ones are the most aligned to your goals and strategies.
One of the ways that you compare projects is through a common Business Case. The Business Case describes the reasons and the justification for the project based on its estimated costs, the risks involved and the expected future business benefits and value. The sponsor is responsible for the Business Case.
Business Cases should contain the following information:
Executive Summary. This section contains five components:
Overview
Cost Benefit Analysis. Provide a high-level estimate of the costs and benefits of the project. The format of this section should be consistent for all projects so that the projects can be compared.
Alignment. All projects should align to your organization's strategic plan. Some align better and take the organization further. The alignment should be described so that it is clear how the project helps to move the organization to its desired future state.
ConclusionSummarize the business case and draw one or more conclusions regarding the proposed solution, business value, ROI, etc.
It may seem like this is a lot of work. In fact, it might be. However, the Business Case is used to determine the projects that get funding and those that don’t. So, it is important to spend the right amount of time on the Business Case. If you don’t do a good job on this document, your project may not compare favorably with other projects that have more detail and relevant information. by Danielle Smallwood, TenStep Thomas Mochal
I doubt that simple discussion can change anything in our country, but if you really have an idea to share, this is your chance to shake our government up. It's quite a good initiative, but to my mind, it will only work when all results of discussion are formed into real suggestions for statesmen.
Leave your comments