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Need to justify spending? You need a business case

Now more than ever the need to justify spending is important. Is now the right time to spend money? If so, where should investment be directed to achieve my organisation’s strategic objectives?
Need to justify spending? You need a business case

Organisations that achieve their vision do so through strategic consideration of scope, cost and programme to define what their ‘change’ needs to be. The business case is the strategy document that provides decision makers and stakeholders with a bespoke framework and assurance of due diligence. The thoroughness of the business case is what underpins your project and outlines the strategic objectives throughout.

Despite the current economic outlook, there is also opportunity. Both Federal and State Governments are looking to bolster the economy with various stimulus packages and this is well-documented. Government and not-for-profit projects in particular, usually have a specific requirement for business cases, or a similar supporting framework to justify the investment.

So, what makes a good business case?

In a nutshell, a good business case will convince the decision makers to invest or approve the funding of your project.

Key elements of a good business case include:

  • Detailed explanation of how the investment will achieve the strategic objective
  • Recognition and outline of the associated risks
  • Thorough research that accurately identifies if your case is supported by service demand and capacity planning
  • The best options for scope, solution, service delivery and implementation to achieve the overall objectives

Many Government projects are proceeding along with the mix and pivot of most sectors in expanding, switching direction or downsizing. Regardless of which phase your business is in, now is the perfect time to develop a business case (or revise your existing business case) in order to secure funding and/or required approvals before embarking on your next strategic project.

APP has specialists experienced in developing business cases for both public and private sector clients. Contact any of our experts below in the first instance to explore the best option for your business.