At MRE, we are involved in many projects and, while every project produces unique challenges, there are basic processes to consider when approaching a new project or encountering issues at any point in the project lifecycle. This document is a step down that path. It is a review of the Business Case Process. Take the time to absorb the material and use what you can in your current or future engagements. This content has been well received by our clients.
HOW IT WORKS:
Even A solid business case process is critical for technology projects. Too often when we perform post-mortem evaluations on failed projects we find a missing or incomplete business case process. Many of our successful projects are the result of a business case process with the following phases:
- Initiation: A robust business case aligns IT leadership with a common vision; justifies capital investment; and defines the scope, goals, objectives, and guiding principles for the project or program.
- Management: The goal of management is to keep the guiding principles, goals, objectives, and scope “front-of-mind” for the project team and stakeholders; maintain alignment; and re-assess project justification when business drivers, scopes, or costs change.
- Actualization: This is the most important, yet most commonly overlooked, component of the process. Measuring actual results, incorporating lessons learned, and holding business stakeholders and IT leadership accountable are all actions that demonstrate management is serious about justifying and running projects with value as the primary motivation.
A key component of our business case process is the case itself. We summarize a business case in four components: proposed solution, benefits, financial model, and risk assessment.
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