Determining project ROI is difficult because:
- Many ideas are half baked
- No one defined what they meant by project ROI
- The requestor expects the PMO to come up with the business case for their project
Trying to develop ROI for projects without input and guidance from your leadership team and finance department is a sure-fire way to fail.
Our Advice
Critical Insight
Financial analysis is not the business case, but it makes your business case defensible. The outputs of various calculations are critical to standardize a business case process. However, finance is part science and part art. The business case should transparently represent the assumptions built into the analysis and should overtly explain what those numbers mean, and what the implications of the numbers are, to the audience reviewing the documentation.
Impact and Result
- Collaborate to define the necessary KPIs and calculations for the business case standard.
- Have a clear and agreed upon RACI for the business case process.
- Determine when it makes sense to invest the resource time and money to develop a comprehensive business case.
Onsite Workshop: Build a Comprehensive Business Case
Onsite workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost onsite delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Module 1: Define the Current State
The Purpose
- Align stakeholders on terminology and goals
Key Benefits Achieved
- Develop stakeholder buy-in for the process rationale
Activities
Outputs
Review the business context
Identify the current pain points around business case development
- SWOT Analysis
Become familiar with business and finance terminology
- Business Case Process Start-Stop-Continue
Understand the key elements of a business case
- Goals for the business case process
Module 2: Develop Business Case Framework and Governance
The Purpose
- To clarify roles and responsibilities
Key Benefits Achieved
- Develop a repeatable and enforceable business case process
Activities
Outputs
Develop a Business Case Classification Matrix
- Business Case Classification Matrix
Determine responsibility, accountability for the business case, as well as who should be consulted and informed
- Business Case Process RACI
Draft a workflow to detail the business case development and approval process
- Business Case Development Workflow
Module 3: Pilot the Comprehensive Business Case Analysis Tool
The Purpose
- Pilot a project for the business case development process
Key Benefits Achieved
- Get familiar with Info-Tech’s Comprehensive Business Case Analysis Tool
Activities
Outputs
Brainstorm a candidate to pilot
- Comprehensive Business Case Analysis
Set up the comprehensive business case analysis tool
Populate the project costs
Populate the ongoing maintenance costs
Review the results of the analysis
Module 4: Develop an Executive Business Case Presentation
The Purpose
- Articulate the analysis and benefits of your pilot project to the leadership team
Key Benefits Achieved
- Get familiar with Info-Tech’s Executive Business Case Presentation
Activities
Outputs
Determine the appropriate audience and forum for the business case presentation
- Executive Business Case Presentation
Craft a presentation using the Executive Business Case Presentation template and make the final recommendation
Develop a roadmap to operationalize the process for business case development
- Process Implementation Roadmap