Business Strategy Development
RST Global Vision Management and Consulting Firm, LLC - At RST Global Vision Management and Consulting, our team members help organizations develop strategies supported by business case analysis.
A business case strategy captures the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also sometimes come in the form of a short verbal argument or presentation.
The logic of the business case is that, whenever resources such as money or effort, they should be in support of a specific business need. An example could be that a software upgrade might improve system performance, but the “business case” is that better performance would improve customer satisfaction, require less task processing time, or reduce system maintenance costs.
A compelling business case adequately captures both the quantifiable and unjustifiable characteristics of a proposed project.
Business cases can range from comprehensive and highly structured, as required by formal project management methodologies, to informal and brief. The information included in a formal business case could be the background of the project, the expected business benefits, the options considered (with reasons for rejecting or carrying forward each option), the expected costs of the project, gap analysis, and the expected risks.
Consideration should be given for doing nothing including the costs and risks of inactivity. From this information, the justification for the project is apparent. Note that it is not the job of the project manager to build the business case, this task is the responsibility of stakeholders and sponsors.