Case Study: Business Case Analysis

1) Business Challenge

07 - Project budgeting (Annual and Continuous)

The other challenge was the time it took from idea to business case development to final approval.  There were many iterations of business cases and the turn around time in between changes was too long.  Many people were involved in the process and it took many spreadsheet versions to have a final version.

Finally, the process lacked standardization and the ability to look back and hold people accountable for the commitments made in the business cases was not often enforced.  There was no process to look back at the investment once approved and over time the business cases were lost in laptops as people moved on to different roles.

Analyzing investments should be a straightforward process.  Identify the opportunity, provide an overview, gather basic financial data and calculate ROI, NPV, Payback back, etc.  As simple as this process is it becomes very difficult for organizations as the scale in size and become more complex.  Our customer was managing hundreds of business cases per year and was frustrated with getting different spreadsheets and PowerPoint decks every time a new project was proposed for approval.  They were unsure if the calculations all had the same assumptions and if comparing investments were truly like for like.  The spreadsheets looked different from one case to the other and key data points were often missing.

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2) Desired Solution

The key objectives of implementing a solution were as follows:
  • Ultimate goal was to have the ability to make investment decisions faster

  • Simplify the process where possible—make the end-to-end process easier

  • Create standardization—ensure that regardless of where in the organization the business case originated from that it had standard calculations and assumptions

  • Role base access—ensure that business units can only see their business cases

  • Reporting—create dashboards that can aggregate business case data and provide useful insights into investments

  • Capture both cost estimates and intended business outcomes and provide scorecards on benefits

  • Create a repository or library that can be accessed over time

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3) Inpensa Role

Process Automation on the Mechanism of Metal Gears.

The challenge was very familiar to the Inpensa team.  The goal was to implement Inpensa CaseIQ® product which would be delivered in the cloud.

The initial approach was to capture the existing process and understand the business requirements for the configuration.

During the process phase the team was able to identify some bottle-necks and found many discrepancies in the various templates they were given as references.

Inpensa solutions are very configurable so it was easy to turn on and off various features that were not needed in this implementation.  This capability was very useful because during the process we discovered that different divisions had varying maturities and wanted different capabilities and data reflected in their business cases.

The implementation took eight weeks from business requirement development (BRD) to go live.  The team used a sprint implementation process which kept the project on track for both on-time and on budget.

4) Results

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A unified platform for all business cases with standardized processes.  The user feedback was extremely positive.  CaseIQ® has many Excel spreadsheet like functions and also has the ability to copy paste between the two solutions so moving from Excel to CaseIQ® was not very difficult.

The process was simplified because the solution leverages a step-by-step approach to creating business cases.  Also, making changes was simple and was also tracked via audit trail capability to create additional governance.

CaseIQ Key Benefits:

  • One system for the entire company regardless of the kind of business case

  • Role-based access to keep data safe and to provide role-based reporting

  • On-demand access to reports—reports were pre-configured and provided on-demand access

  • Ability to provide a benefits realization scorecard by aggregating the cumulative benefits of the approved investments

  • Scenario analysis made easy—the solution provided the capability to compare investment alternatives with just a few clicks

  • Standardized process with governance—approval was managed in the system

  • A library of all business cases was established to help drive accountability

Overall the solution provided the intended benefits with some additional surprise benefits.  It made the process faster and provided relevant data to accelerate the investment decision process.  It also required less time and effort to gain access to critical investment analytics.

5) Beyond CaseIQ

Customer is evaluating implementing TracIQ® to track the cost estimates and business outcomes identified in the business case.

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