Expert Advice from Today’s Top Professionals
Building a Business Case as theFoundation for Project Success
When projects ail to deliver results, ensuing conversations canoten become accusatory. The division manager says, “Evenwith all the resources and money put into this new product,the quarterly numbers show that it’s another loss. Plus, one oour competitors brought out an equivalent product beore wewere ready to launch ours”.The head o the department responsible or the projectresponds, “We did the job, delivered on time and stayed withinbudget. It’s not our ault i the product didn’t generate themoney you expected”.The problem is…they’re both right! But even with everyonedoing their best, the results were disappointing and thesecond-guessing begins. Were the business’ expectations toohigh? Was the original scope o the project assessed correctly?And that competitor who introduced an equivalent product—was the possibility o that risk ever identied at either theoutset o the project or during its lie? I so, were thoseinvolved—stakeholders included—aware o the potential riskso measures could be taken to mitigate it? Or was it decidedthe team was just there to deliver a product and not manageexternal events?
Applying the Business Case
Questions like these are oten argued once the project is over.Unortunately, it’s usually too late to repair the damage. That’swhy successul project teams take the time to consider suchissues by building a solid Business Case at the inception oevery project. This enables a team to address potential risksand plot alternative strategies while providing a tool or uturevariables throughout the project.Once the Business Case has been developed, it is then appliedat our critical phases in the project’s lie cycle in order toensure that the project—once completed—will deliver thereturn on investment that was originally orecast.
article, author, instructor and technicalproject manager John Moore provides detailed steps for establishing asolid Business Case to ensure project success and maximise the resultsfrom investments made in money and resources.
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