How to nail business cases – a four step model
The business case is the cornerstone of any major capital project. Getting this right is absolutely critical to ensure that the many moving parts can be effectively managed across its development lifecycle.
The right decision
Making the correct investment decision depends on the strength of the business case. This is crucial to achieving the strategic aims of an investment and getting the best from physical assets.
By developing a clear, robust and measurable case for investment, which is built on real facts and detail, and a practical path of action, you can see exactly what the benefits will be and how much it will cost.
In short, it is the foundation for a confident, informed investment decision to go ahead and a strong, well supported business case which provides the best foundation for successful delivery.
The right approach
The starting point is the why, the what, the how and the when of the business case. To answer these questions you need the right evidence, data, structures and tools. You also need an accurate plan.
Our established business case approach is summarised in four key steps:
AssessUnderstanding strategic investment objectives, critical success factors, current and future strategic aims to evidence the reasons for future investment including appraisal approach, constraints, dependencies, risks, benefits and project timescales.
AnalyseAnalyse existing data and property information to present a case for change, and setting out your future needs to confirm your requirements e.g. through a ‘Schedule of Accommodation’ and a financial and non-financial options appraisal.
AdviseHaving identified a preferred option, we review and advise on likely delivery options through the development of the commercial/procurement model(s), affordability/financial model and an effective programme. This provides clarity on future steps required to progress toward delivering your preferred option and investment.
AuthorUsing the previous steps, we author the business case tailored to your requirements with recommendations to support funding bids and internal/external approvals. Our business cases avoid jargon, are clear and follow a logical order (typically the HMTs Green Book Five for public sector client(s).
The right credentials
We have a proven track record in helping our clients to develop business cases that help them meet their strategic aims. This includes work in the UK with: Derbyshire Community Healthcare NHS Trust on the Buxton Community Hub; Manchester Metropolitan University; Stirling Council on its City Deal Programme; and Luton Borough Council on its health hub business case financial modelling.
See our brochure ‘Business case – developing your preferred option’ for further details.