A business case process is a set of steps that organizations follow to develop, evaluate, and implement business projects or investments. A well-defined business case process can help organizations make informed decisions about how to invest their resources and ensure that proposed projects or investments align with the organization’s strategic goals and priorities. Here are some critical steps that could be included in a business case process:
Identify the problem or opportunity: The first step in the business case process is to identify the problem or opportunity the proposed project or investment seeks to address. This step could include market trends, changes in customer needs, or new technologies that could be leveraged.
Define the objectives and scope: The next step is to define the objectives and scope of the proposed project or investment, including the expected goals and outcomes.
Conduct market research: Market research should be conducted to assess the feasibility of the proposed project or investment and to identify potential risks and challenges.
Develop the business case: The business case should be developed, which should include a detailed analysis of the costs, benefits, risks, and opportunities associated with the proposed project or investment.
Evaluate the business case: The business case should be evaluated to determine whether the proposed project or investment is aligned with the organization’s strategic goals and priorities and whether the benefits outweigh the costs and risks.
Obtain approval: Once the business case has been evaluated, it should be presented to senior leadership for approval. If approved, the project or investment can move forward.
Implement the project or investment: The project or investment should be implemented according to the plan outlined in the business case. This step may involve establishing project teams, allocating resources, and managing risks.
Monitor and evaluate: The project or investment should be monitored and evaluated over time to ensure it achieves the expected outcomes and benefits. If necessary, adjustments may need to be made to the project or investment plan.
A business case process is critical for organizations to make informed decisions about investing their resources. By following a well-defined process that includes steps such as problem identification, objective and scope definition, market research, business case development, evaluation, approval, implementation, and monitoring and evaluation, organizations can ensure that proposed projects or investments are aligned with their strategic goals and priorities, and are likely to generate positive returns.
The Business Case Process category is a comprehensive collection of resources, articles, and documents designed to provide CIOs, IT executives, and decision-makers with an in-depth understanding of the various stages and activities involved in developing, evaluating, and implementing IT-related business cases. This section of our CIO Reference Library focuses on providing insights, best practices, and tools to help you navigate the complexities of the business case process, ensuring that your technology investments are well-planned, strategically aligned, and capable of delivering maximum value to your organization.
A well-executed business case process is essential for making informed decisions about IT projects and initiatives, securing stakeholder buy-in, and driving successful outcomes. The Business Case Process category aims to equip you with the necessary knowledge and tools to manage each stage of the process effectively, from identifying the problem or opportunity and gathering data to evaluating alternatives and presenting the final business case for approval.
Key topics covered in this category include:
Overview of the business case process and its importance in IT decision-making
Identifying and articulating the problem or opportunity addressed by the IT project
Gathering and analyzing data to support the business case
Developing and evaluating alternative solutions
Estimating costs, benefits, and ROI of technology investments
Assessing and managing risks associated with IT projects
Aligning the business case with organizational goals and business strategy
Presenting the business case for approval and securing stakeholder buy-in
Monitoring and reviewing the implementation of approved business cases
Continuous improvement and lessons learned from the business case process
The Business Case Process category is regularly updated with new content, ensuring that it remains a valuable and current resource for CIOs and IT executives as they work to drive their organizations’ digital transformation and achieve success through effective management of the business case process.
This comprehensive, multi-volume guide contains a complete set of tools – framework, process, instructions, templates, and tools – to create a business case for information technology (ICT) investments. This guide contains information, and tools for the preparer, and reviewers. Excellent toolkit for the CIO who wants a structured approach to IT Business Cases.
This business case guide provides a template for managers to seek approval and support for IT investments. It provides the steps in the analysis required to ensure that IT investments are planned and documented – requirements are defined, performance metrics are identified, and program costs, benefits, and risks are well defined and understood prior to initiating an IT project.
This in-depth guide provides the process, templates, and guidance to create a business case for investments. The excellent discussion goes beyond financial considerations to include critical non-financial issues to consider when funding an investment. The emphasis is not on fulfilling an administrative mandate for approval of investments but to genuinely understand what it takes for an investment to succeed based upon fact and evidence. Excellent Read! (200 pages)
This guide helps build an initial or indicative business case for an investment. This business case established the strategic context of the proposed investment, confirms the need for a solution to a business problem, recommends an approach with a list of viable options, and gets approval for further analysis to
This guide helps create a business case for an IT investment. This business case establishes the strategic context and fit, confirms the case for change, identifies the investment option that maximizes business value, prepares a proposal for procurement, and seeks the necessary funding and management approvals for successful implementation.
The Strategic Assessment is intended to provide stakeholders with a high degree of confidence that the investment they are considering aligns with the organizations strategic priorities and responds to a true business need. Stakeholders can consider the rationale for a proposed investment at an early stage, and determine if the proposal warrants the development of a business case.
This document discusses benefit assessment of an investment proposal. Benefits management is vital in ensuring that an initiative achieves what it set out to do. It involves articulating what benefits are expected from the initiative, how it will be known that the benefits are achieved, and the assessment of what has eventuated against what was planned. Managing benefits extends beyond the lifecycle of a project or program. It requires a structure that survives long after the project/program team has disbanded.
An implementation business case provides justification for a particular implementation approach/solution for an IT investment – the primary purpose is to recommend a solution that maximizes the return on investment.
This document describes the strategic assessment of an IT investment which answers the simple question: "is there a need?" This is perhaps the first stage in an investment's lifecycle and most critical because this is where one can either save the day or really make a blunder approving a disaster or rejecting a gem!
This business case development guide describes a best practice based approach to developing investment proposals specific to information technology investments – establish a clear need, define benefits, and explore strategic options. This guide includes things sometimes omitted by others specifically, technology selection, organization readiness, and procurement.
