Few Know What “Business Case” Means
Business Case Center Stage
Surprisingly few in business really know what “business case” means. Nevertheless, at business meetings everywhere, it seems like business case analysis is center stage. Why?
Everyone talks about the “Business Case,” but few really know what that means.
- First, the business climate today has a low tolerance for management error.
- Second, the need for rock-solid accountability is increasing.
- Third, the competition for scarce funds is intense.
- Finally, managers must now show why the course they choose is the best course. And, they must show this in business terms.
As a result, the business case is mandatory for most important business decisions today.
Business Case Analysis: Who Needs It?
Nevertheless, while everyone talks about the business case these days, surprisingly few know what this really means. Consequently, those who master case-building skills have a real advantage over their professional colleagues. As a result, they have the advantage in business areas such as the following.
- Project management and product management.
- Acquiring assets and asset management.
- Finance and financial control.
- Strategic decision and strategic planning.
- Budget planning.
- Corporate governance and accountability.
- And, they have a special advantage in the job search.
Because our site visitors ask for it, we present online the popular article Business Case Analysis. Find here a complete guide to business case analysis. And, find here answers to questions like these:
- First, how do I show that my proposal is a good business decision? And, can I prove this in compelling terms?
- Second, can I convince the skeptics we will really see the results I project?
- Third, how do I value important non-financial business benefits? And, how do I show that the case includes all relevant costs?
- Fourth, how do I measure risk for proposal outcomes? And, how can we reduce risk? Also, which risks must we be especially alert for.
- Fifth, how do I show which critical success factors we must manage to target levels?
- Sixth, how do I show what happens if we do not take action? And, how do I show what happens if we choose other proposals instead? Also, which alternatives should my case compare?
- Finally, what is the best practical advice I can give with case results?
Where to Go From Here: Take Action!
For new and veteran case builders alike, see the popular article Business Case Analysis.
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