When You Deliver Case Results, Business Case Risk Comes With the Turf.
The business case predicts financial results, but these predictions come with uncertainties.
Good business case analysis will not eliminate business case risk—uncertainty about the results of business decisions. Good business case analysis can, however, reduce the uncertainty to a minimum, measure what remains, and provide the tools for minimizing risk as the action goes forward.
Risk and sensitivity analysis are key to reaching these objectives.
Senior business managers say, increasingly, that the margin of tolerance for management error is shrinking, visibly and tangibly. In the current business climate, therefore, there is new urgency to questions like these:
- How do we know that we’re going to see the results your case projects?
- Are we sure this is the best business decision?
- How can I prove, later, that I’m acting responsibly now?
Most people know that business case analysis attempts to answer questions like these, firmly and finally. That is what decision support is means, after all. Nevertheless, decision makers with business case results in front of them, still face questions like this:
- They ask: Is there any certainty to be had in the business world?
For an answer, please see the full article on Business Case Risk. in the Encyclopedia of Business Terms and Methods. Read the complete risk and sensitivity article online.
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