Failure takes place when the business case:
>> is not in line with strategic business objectives;
>> lacks recognition of what is important to the CEO and CFO;
>> requests spending without financial benefit projections; and/or
>> uses HR and learning industry terminology that is a “different language.”
These failures all have one thing in common: They all relate to an L&D-driven agenda and not a business-driven agenda. To develop a successful business case, you must consider how it is perceived and how it will impact the greater good of the organization.
According to CEB (Corporate Executive Board), the average number of individuals involved with today’s buying decision is 5.4. This buying team will often have differing agendas. That means that in order to get a Cloud-based learning business case approved, you’ll need to identify each of the buying team stakeholders and then secure their support by tailoring it to their specific priorities.
Stage 1: Define the Business Issue
>> Identify the business opportunity or problem to be solved.
>> Create a succinct description of what your proposal will deliver.
>> Create objectives to help your organization reach its overall goals and be aligned with the priorities of senior management.
>> Develop an opportunity statement to describe the benefits of solving the problem or seizing the opportunity.
Stage 2: Analyze Alternatives, Select Best Option
>> Ask those closest to the issue for their ideas on possible alternatives.
>> Research case studies of those inside and outside your field that have faced similar challenges and solved them.
>> Collect information about each alternative to weigh them in financial terms, intangible benefits and risk level.
Stage 3: Prepare the Business Case
>> After analyzing the alternatives.
>> The template you use to lay out your business case should have a simple and sound structure:
1) Executive Summary;
2) Current Situation;
3) Analysis, Recommendation;
Stage 4: Deliver the Business Case
>> Rehearse with an informed, invested colleague.
>> Plan the forum and format with care.
>> Select the time, place and approach that suits the stakeholders best.
>> Keep your presentation focused and concise. Avoid going into unnecessary detail.
>> Be prepared to deal with questions that may arise.