Maximise Business Success
Every business should have the same focus, converting the opportunities / projects that deliver the most value. We call it opportunity prioritisation. A strategy delivers a prioritised list of opportunities (with mini-business cases) however for some businesses they simply need help fully defining existing opportunities.
Successful Opportunity Qualification
Depending on the audience, differing levels of formality can be applied to opportunity qualification. The likelihood of success increases exponentially for every hour you commit to the qualification process. Fundamental to this success are a:
- a project definition that highlights: strategic alignment, competitive advantage and organisational impact
- the project scope
- a comprehensive definition of the benefits the opportunity will deliver
- the financial costs and benefits of implementation and typically an IRR
- a project strategy to ensure successful implementation
- the risks associated with the implementation and how they will be managed / mitigated
- an impact assessment considering staff, processes, technology and customers
Business Cases that Guarantee success
There are no guarantees but assistance from skilled practitioners that have written countless business cases in almost every industry will maximise the success of any opportunity. Business cases will qualify the opportunity and minimise risk. As a decision maker in your business, eliminating opportunity risk is mandatory.
Ahhhh a Business Case
It’s a sad but true fact that a large number of opportunities are not progressed and/or completed because the business case failed to paint the complete picture. It’s not an overly complex process however the importance of producing a clear concise document that tells the complete story often is the difference between an opportunity or project being initiated or not.
The concept can be scary but it only needs to be big enough to tell the story that will allow your stakeholders to agree that you’ve taken the time to formally review the opportunity. Mini-business cases are appropriate for low investment opportunities however as the investment increases the complexity and completeness of the business case increases.
Easy Business Cases
There’s no such thing, but we note that the main reason business cases fail is in the qualification of tangible and intangible benefits. Every year NineDots completes 10+ complex business cases and without exception the internal Subject Matter Experts struggle to define all the benefits.
Contact NineDots we can take the pain out of the Qualifying Opportunities process and show you how the benefits can be realised.