Financial results are the heart of the business case. You'll need accurate financial projections along with an explanation of your assumptions. Where possible, you'll include supporting evidence to back up your assumptions. These pro forma financial statements will eventually become the financial projections used to measure the success of your initiative.
- Financial results are the core of your business case.…You'll need accurate financial projections,…along with an explanation of your assumptions.…Where possible, include supporting evidence…to back up your assumptions.…These pro forma financial statements will eventually…become the financial projections used…to measure the success of your initiative.…Create a worst, expected, and best case financial plan.…Use your company's standard for duration of the plan…and any core assumptions like your discount rate.…
You can get those core numbers from the finance group.…Build your plan from the bottom up.…Use individual drivers of impact…instead of a top-down approach.…If you put an idea out there and say,…"If we just improve by 2% overall,…"it's worth a million dollars,"…well, your stakeholders won't really approve it…because they won't buy in.…Cases rarely get approved with that kind of analysis.…Your stakeholders will want to see how individual drivers…like new customers, reduced head count,…and higher traffic and other base metrics add up…
- Define the structure and uses of a business case.
- Write effective executive summaries.
- Explain the components of a problem definition.
- Describe how to articulate the benefits of an idea.
- Estimate financial results and identify measurements of success.
- Describe how to outline risks and opportunities.
- Create milestones.