The Business Case should be where the full available value of the proposed project/program is captured, but is too often where most value is missed or lost.
Poor benefits identification, a lack of clear, specific and measurable outcomes and lack of comparability all contribute to business cases destroying rather than capturing massive value.
TOP Business Case Center of Expertise equips organizations to position the business case as the master control document of the project.
Your business case needs to be a strategic document. It needs to spell out how the proposed project is going to delivery your strategy, deliver clear, specific business outcomes, enable you to realize the associated business benefits and their attendant value. Unfortunately, few business cases do this.
Most business cases focus only on the financial benefits—“Where can we save money?” This limits the benefits generation perspective as people tend to think narrowly and only about the most obvious cost areas.
Our Center of Expertise starts instead by thinking broadly — in terms of the business outcomes, the targeted benefits in terms of customers, competitiveness, operational capabilities, people productivity, risk reduction, as well as the financial benefits. This approach has two impacts on the outcomes:
- non-financial benefits are clearly identified (these can be the most beneficial over time)
- many of these initially ‘non-financial’ benefits can be found to have financial value – increasing the overall financial value of the project.
The result is a comprehensive business case that maximises the project’s potential value, and makes a real contribution to the project’s overall success.
“Twenty-five percent (25%) or more of a project’s potential benefits will be missed if the business case generation process is inadequate.”
Value maximization is, therefore, worth at least 25% of the project’s value.
Explore the extraordinary results organizations have achieved in the TOP Case Studies:
https://blog.totallyoptimizedprojects.com/top-case-studies/tag/business-case
