Building and Presenting an Effective Business Case

Duration: 4 Days

To help intelligent decision-making when dealing with a business need – whether taking advantage of new opportunities, or solving a business problem – you need to develop a business case. A business case compares the different ways in which you could meet the business need, and then makes a recommendation to support the best option.

You will learn to analyse business needs to create a compelling business case that guides intelligent decision-making in your organisation. You will use tools and templates that can be taken away for immediate use back at work.

How can I attend my course?

After completing this course, students will be able to:

  • Focus on business need, not on symptoms of need
  • Clearly identify initiative scope from the start 
  • Identify, analyse, and manage key stakeholders and communication with them throughout the business case development process
  • Understand the difference between business goals and business requirements
  • Write clear problem statements and business requirements
  • Develop and execute a communication plan
  • Create a cash flow to measure potential initiative financial benefits, and the timing of those benefits
  • Detect and prioritise potential risks
  • Present the preferred option to the organisation
  • Recognise the importance of communicating intangible benefits to the organisation


Course Outline

What Is a Business Case?

  • Key facts and definitions
  • The business case versus a business plan
  • When and why you should create a business case
  • Basic structure of a business case
  • The business case process

Stating the Problem or Opportunity

  • Identifying problems and opportunities
  • Developing a problem statement
  • Identifying business goals
  • Clarifying the scope: writing business requirements
    • Business options
    • Technical options
  • Creating business metrics for business requirements

Comparing Costs and Benefits

  • Investment appraisal using a cash flow forecast
  • Common measures for project evaluation
    • Return on Investment (ROI)
    • Payback Period
    • Benefit Cost Ratio (BCR)
  • Creating a discount rate
    • Measuring the time value of money with Net Present Value (NPV)
    • Sensitivity analysis using NPV
    • Using Internal Rate of Return (IRR)

Assessing Initiative Impact and Risk

  • Differentiating between impact and risk
  • Handling risk using sensitivity analysis
  • Choosing a risk mitigation strategy

Estimating Costs

  • Fundamental cost types
  • Differing methods for estimating costs
  • Using a cost estimation tool

Identifying and Classifying Benefits

  • Benefits identification procedure
  • Differentiating between tangible and intangible benefits
  • Proving intangible benefits

Selecting the Best Solution

  • Assessing Project Feasibility
    • Business
    • Technical
    • Financial
  • Limited selection criteria: the Boston Box
  • Multiple selection criteria: employing a Weighted Rating Matrix
  • Using a tiebreaker: Paired Comparison Matrix

Communicating the Business Case

  • Writing the business case
    • The pyramid structure of effective documents
    • Persuasive writing
    • Effective management briefing: Presentation structure
  • Presenting the business case

Course Wrap-Up

At the end of the course, students will have an opportunity to discuss outcomes and complete an action plan

My Course Notes

You will receive a full set of course notes and all supporting materials for your course. Hard Copy Delivered to your premises or Downloaded to a chosen device.
 

     OR  

To book this course please call +44 (0) 1444 410296 or email at Info@kplknowledge.co.uk

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