ambition in action. ambition in action preparing and presenting an effective business case...
TRANSCRIPT
Ambitionin Action
Ambition in Action
www.sit.nsw.edu.au
Preparing and Presenting an Effective Business Case
Presentation to HIMAAJuly 2010
Ambition in Action
www.sit.nsw.edu.au
Overview of Session:
/ What is a business case?
/ Why develop a business case?
/ What goes into a business case?
/ Presenting your business case
/ Summary
Ambition in Action
www.sit.nsw.edu.au
What is a business case? “ a business case is a proposal document or
presentation that details the business reasons for initiating a project. It provides senior management
with the facts and figures they need to make an informed decision about whether the project should
be given a green light to go ahead.”
Examples: staffing, major acquisitions, digitisation, cataloguing systems
Ambition in Action
www.sit.nsw.edu.au
The Business case should answer these questions:
Ambition in Action
www.sit.nsw.edu.au
Why is a business case necessary?
Ambition in Action
www.sit.nsw.edu.au
Preparing the Business Case:/ Use your organisation’s methodology which will include:
/ Evaluation of the significance of the project/ Information on the scope/details of the project
/ Who will it affect?
/ What is the policy context?
/ Utilise those people who have the information and skills to supplement your business case
/ Optimistic or unrealistic budgets and implementation schedules can destroy the credibility of a
business case
Ambition in Action
www.sit.nsw.edu.au
Business case components:
1. Executive summary
2. Analysis of opportunity
3. Costs and benefits
4. Risks and rewards
5. Implementation plan
Ambition in Action
www.sit.nsw.edu.au
Executive Summary:/ Quick, easily understood summary of
the opportunity
/ High level summary of the opportunity
/ Description of the project and resources required to implement
/ Summarise how the project aligns with organisational needs or strategy
Ambition in Action
www.sit.nsw.edu.au
Analysis of opportunity:
/ Where are we now?
/ Define the core problem or business challenge
/ What are the various options
/ Summary of opportunity (value creation and value drivers)
/ Relevant internal and external factors
Ambition in Action
www.sit.nsw.edu.au
Costs and benefits:/ Detailed description of costs and benefits
(generally quantifiable)
/ Initial and recurring costs and benefits
/ If there is uncertainty in the numbers- provide “best case”, “worst case” and “most likely” scenarios
/ Optimistic or unrealistic budgets can destroy the credibility of the business case
Ambition in Action
www.sit.nsw.edu.au
Risks and rewards:
/ Detail non financial risks and rewards eg: impact on employees/ bottom line
/ Mitigation plans for risks
/ Can be strong factor in the success of a business case
Ambition in Action
www.sit.nsw.edu.au
Implementation plan:/ Implementation timeline,
deliverables, resources
/ Operational changes required to achieve the final targets
/ Business owners and operational owners of the project
/ How will you recognise when the need has been met?
Ambition in Action
www.sit.nsw.edu.au
Optional Extra: An ‘elevator pitch’
/ Prepare an ‘elevator pitch’ for your proposal
/ Describes the benefits of your proposal in 100 words or less
/ May include a short slide presentation emailed to key people before your presentation
Ambition in Action
www.sit.nsw.edu.au
Presenting your business case:/ Target presentation to the audience eg: language,
examples/ Explain the WIIFM, so focus on the benefits/ Base presentation on facts and figures but do not
forget the emotions/ Pick other people’s brains for tips/ Think about questions you may be
asked and prepare answers
Ambition in Action
www.sit.nsw.edu.au
Presenting your business case -know your reader
Dominant Easy Going
Spontaneous
Controlled
Ambition in Action
www.sit.nsw.edu.au
Summary/ Know your organisation/ Research the issues well and discuss the proposal
extensively internally/ Write the business case with all costs and issues explained/ The business case should include the relevant financial
justifications, but not just the sole purpose of the document/ The business case should address all stakeholder’s
concerns from economic, social and environmental perspectives
Ambition in Action
www.sit.nsw.edu.au
Thank you!
Question Time.....