What is business case
software and why do you need it?
A business case provides justification for initiating an idea, project or task. It evaluates the expected costs, risks, and business benefits, and is considered an essential tool to optimizing benefit realization. It acts as a way to evaluate and prototype ideas against the rigorous criteria project managers need to execute and deliver a well performing project.
However, many organizations don’t use them to their full potential. They tend to use word documents or excel templates to capture and manage their business cases. These are unstructured, hard to govern and lack transparency. Once completed they’re not referred back to and the organization lose out on the chance to demonstrate value to the business.
Business Case Software acts as the missing link between your innovation and PMO teams, enabling ideas to be turned into actionable project plans.
How business case management software helps your organization
- Business case software enables you to centralize, standardize and easily govern how you capture and progress business cases. All teams know exactly where to look for approval and project managers can easily refer back to ensure project implementations are on track and delivering the expected benefits.
- Business Case Software can: Present a repeatable method of capturing business case data
- Promote greater collaboration between teams
- Accelerate evaluation and approval
- Provide accurate forecasting for benefit realization
edison365 business case software is unique
edison365 has built a unique application that enables organizations to build a comprehensive business case analysis. It’s part of our suite and is designed to take ideas from the drawing board on to the balance sheet.
Easily connected to the rest of the edison365 suite, you can evaluate ideas and accelerate benefit realization in edison365businesscase then turn them into actionable projects defined by your ways of working in edison365projects.
What are the benefits of business case software?
- Business Case Software enables organizations to spot trends and identify bottlenecks before even executing the project and acts as a tool for evidence-based decision making.
- Rapidly evaluate ideas with easy identification of ROI
- Improve collaboration across your organization
- Greater transparency of the project pipeline
- Standardize the approval process for ideas of all shapes and sizes.
Business case software tracks benefit realization
By adopting business case software, you gain a set of common standards, with the aim of democratizing, socializing and optimizing the process to make it easier for everyone involved.
You might end up with multiple business case formats, but there should be standardization of data sets, types and metrics across all of them. When everyone is looking at the same data in the same formats, it is much easier to have a common view of progress against benefits realization across the entire portfolio of business cases.
Once a business case(s) has been approved, project managers should be able to translate them into project plans with greater ease, efficiency and transparency.
Connecting with the grassroots:
The Salvation Army
The Salvation Army is using business case software to connect the grassroots to the gatekeepers within its organization, which offers their volunteers the ability to submit ideas then have stakeholders evaluate them against their strategic priorities at a corporate level.
“Within a non-profit, people can often be very risk averse so having a method to not only gather ideas, but to have the ability to demonstrate the value of them and scale them helps removes the risk.” Steven Bussey, Territorial Mission Strategist, The Salvation Army
Standardizing the project pipeline: Aster Group
Our customer, Aster Group, adopted business case management software to standardize and are seeing improvements to the way in which they approve and prioritize projects within the pipeline.
“We as administrators can build as many stages as we need, and that’s really helped the approval and prioritization process before it gets to PMO.” Derek Wilkes, Assistant Director of PMO, Aster Group.
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