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Developing a Business Case

Book Description

How do you decide the best course of action for your company to take advantage of new opportunities? You must develop a business case to explore multiple alternatives before making a recommendation to support a particular option. This book shows you how to use a business case to define an opportunity, identify and analyze alternatives, and present your final recommendation to key stakeholders. You'll learn to

- Clearly define the opportunity you'll want to address in your business case
- Identify and analyze a range of alternatives
- Recommend one option and assess its risks
- Create a high-level implementation plan for your proposed alternative
- Communicate your case to key stakeholders

Table of Contents

  1. Cover
  2. Pocket Mentor Series
  3. Copyright
  4. Mentor’s Message: The Advantages of a Solid Business Case
  5. Developing a Business Case: The Basics
    1. What Is a Business Case?
      1. Business case versus business plan
      2. When you should create a business case
      3. A complex document
      4. Seven steps to a business case
    2. Step 1: Define the Opportunity
      1. Identifying a problem or opportunity
      2. Developing an opportunity statement
      3. Identifying your business objectives
      4. Prioritizing your objectives
      5. Assigning metrics to your objectives
    3. Step 2: Identify the Alternatives
      1. Generating a list of options
      2. Gathering input
      3. Narrowing your choices
    4. Step 3: Gather Data and Estimate Time Frame
      1. Identifying the information you need
      2. Collecting the data
      3. Setting a time frame
      4. Documenting your estimates and assumptions
    5. Step 4: Analyze the Alternatives
      1. Evaluating alternatives against your metrics
      2. Understanding common financial metrics
      3. Creating a framework for comparing alternatives
    6. Step 5: Make a Choice and Assess the Risk
      1. Selecting the best solution
      2. Weighing the risks
      3. Deciding how to mitigate the risks
      4. Determining whether to modify your recommended course of action
    7. Step 6: Craft a Plan for Implementing Your Idea
      1. Understanding the purpose of an implementation plan
      2. Listing your milestones
      3. Communicating with decision makers
      4. Identifying resources you’ll need
      5. Clarifying responsibilities
      6. Indicating expected payoff
      7. Tracking your results
    8. Step 7: Communicate Your Case
      1. Understanding your audience
      2. Using visuals to present your case
  6. Tips and Tools
    1. Tools for Developing a Business Case
    2. Test Yourself
      1. Answers to test questions
    3. To Learn More
    4. Sources for Developing a Business Case