SHOWING THAT YOUR BI PROJECT ADDS VALUE ACROSS THE ORGANISATION
When we look to start a BI project, it is often clear to the individuals and the team around them the needs for making the changes. Often the need for change is easily identified when we work with the task on a regular basis. However it is usually the case that these positive attributes are lost outside of the affected persons or their departmental areas. The importance of building a sound business case is very important, especially in an age where we are becoming more and more cost conscious.
Does the new project add Value? Or does it add efficiency? It is important to document what the current business function achieves and what its goals are. We can then discuss where the inefficiencies are that cause issues, and loss in time or materials. By discussing the effect, we can attribute some financial value to the project, and show how it will make a saving with a certain period of time. This differs between companies, but a decent financial incentive is a project that pays back with 12 months – ie the initial funding for the project is offset by the monetary savings made within 12 months.
It is always important to think about the individual reading your business case. It can range from people that have expertise in your field, to people that have no knowledge of your business function other than a brief overview. Writing your business case to explain a little about the intricacies, whilst keeping it short enough to ensure you do not lose reader interest, is the best way to write your piece. In summary, explain the scenario well, but ensure it is kept brief and only on the topic that we are concerned about.
BI projects are known to overrun, and many projects are met with resistance for this very reason. Our job is to ensure that the business case covers all eventualities that the project could face, and explain how these will be mitigated. The result should be a business case that increases confidence in ability to deliver on time and on budget.
Your business case should also talk a little about how the changes will filter through the rest of the business, and the likely effect on other departments.
To summarise, a business plan is vital to ensure that you win over the confidence of the rest organisation. The business plan should show the value in the project, and proposed risk mitigation to ensure the plan delivers on time and on budget.
Get in touch with HarnessBI, and we can be sure to support you in your next project.