Building the Case for Change
- Guidance and coaching on creating a Business Case or Plan
- Working with you to develop a Business Case or Plan
- Reviewing existing Business Case or Plans where there are issues or perceived risks
Please contact us if you would like further guidance or to discuss your requirements in more detail by using the Contact Us form on the website (www.korolit.com) or directly at enquiries.korolit.com or phone at 0333 444 8944.
Business Case
Structure
Executive Summary
Objectives
- An opportunity that generates revenue, cuts costs, or deliver some other benefits
- A mandatory change, something that needs to be complied with
- A correction of a wrong
This section can be structured in a few of ways. The first approach is appropriate for cases that deal with correcting a wrong. Describe the current situation and explain what the adverse impact is, be it of a financial nature or otherwise. The second approach, more suitable for cases that deal with new opportunities or mandatory changes, where the status quo is not necessarily deficient, is to use the following structure:
- Current state. Describe how the world is today
- Future state. Describe how the world will look tomorrow, when the proposed change is implemented
- The third approach, most appropriate for new opportunities, is to state what the case is proposing and describe why it is being considered and why now?
Project alternatives
List several alternatives you considered, complete with benefits and costs, and risk assessment. Show how they align with such considerations as corporate and business unit strategy, vision, current priorities and any other factors.
You should use your judgment and include the appropriate amount of detail so not to overwhelm the reader and yet provide enough information for effective decision making. This is the old “know your audience” maxim, and it rings especially true here.
Preferred alternative
Always state what the preferred option is and explain why it is preferred.
Implementation plan
It’s usually appropriate to provide some ideas on how the implementation of the preferred solution should proceed, to show that you’re presenting not a pipe dream but a carefully thought through solution. Rarely is it necessary to create an exhaustive plan, unless specifically required by the decision makers.
Appendices
Include all supporting information, such as cost benefit analyses, reference materials, calculations, and charts.
The case for business cases
A solid business case leads to well-informed decisions that are most appropriate in a given business setting, while the one that fails to provide adequate level of detail, or disregards relevant data, or makes incorrect inferences, or does any number of other things wrong, leads to suboptimal decisions that are very expensive to any organization, in terms of the time, money and lost opportunities.
Business Plans
- Market: Ensure you have a defined target market and a competitive advantage
- Theme: Be clear on what your core theme will be (e.g. turnover, profit, brand awareness, market share etc.)
- ‘Stall’: Define your products and services, how they address the needs of your target market, and how they will be developed to meet future changes in requirements and to keep ahead of your competitors
- Measure: Establish a set of Key Performance Indicators (KPI’s) that you can review to see how you are progressing against your plan
- People: Make sure you have the right people working with you to deliver the plan and that they understand the role they will play and how they will be rewarded for achieving and excelling
- Risk: Identify the risks to your plan, assess the probability of these risk occurring, their projected impact and define risk mitigation strategies
- Update: Keep your team, partners, suppliers, investors and clients updated on what you plan to do, how you are doing and regularly ask them for feedback and ideas.