Business cases are viewed as an essential instrument in evaluating and approving strategic initiatives. An effective business case outlines the opportunity or problem that is being addressed, and presents viable and actionable alternatives about how the expected results can be realized. More importantly, the business case outlines the costs to complete the initiative and operationally sustain the project results operationally, as well as the benefits that the organization can realize. The resulting framework theoretically provides a basis for organizational accountability in ensuring the promised results are achieved.
Today there is an element of suspicion around many business cases. Challenges include questionable assumptions, options that are not viable, unrealistic estimates, overinflated benefits and a failure to fully reflect the intangible contributions of a project.
Business cases often present one viable alternative, and several increasingly unlikely options, in order to maintain a perception of objectivity. In a recent client engagement, we supported development of a business case where each option was realistic and viable, but would have different implications for the organization. The business case was in fact a decision tool, not a justification; it laid out real alternatives, but also provided the executive team with understanding of the full implications of those choices.
Interthink Consulting has considerable expertise in the development of realistic, effective and attainable business cases. If you are contemplating a strategic initiative, we can facilitate and manage the development of a business case that is defensible, practical, comprehensive and straightforward. We have guided the development of numerous business cases and feasibility studies, both for public and private sector organizations. We have the methodology, consulting skills and insights necessary to help cost out and quantify the benefits of even the most complex initiatives.