October 2006 Newsletter
Newsletter October 2006
In this issue:
- Developing a Business Case
- PageUp Growth Again Reaches BRW Fast 100
Developing a Business Case
At the recent PageUp Breakfast where we launched our latest White Paper, we noticed that attendees started scribbling faster and more copious notes when we gave a brief overview on how to develop a business case! So, this month we thought we'd provide a little more information around this key skill for HR professionals.
When is a business case required?
Generally a requirement for a business case will be triggered by a need to obtain funds or secure budget allocation for capital expenditure where the requirement is not immediately obvious to the holder of the required funds or you're pitching for an allocation of limited resources. That is, you are not the ultimate decision maker! A well developed business case will ensure that any downsides or risks inherent in the investment are rigorously explored and communicated as well as the ultimate benefits in order to gain the confidence and backing of the decision maker.
A best practice business case should cover the following areas:
Business Strategy
How does this expenditure or investment contribute to the achievement of your organisation or business unit strategy and short term or longer term goals? It is important that the business case be seen to be in the context of, and directly supporting, the business strategy
Current Situation
What is the current situation? Clearly articulate the issues, the current cost to the business and the risks to the organisation in the current environment. Here you are objectively stating the reasons why you wish to review and change current procedures and comparing to well researched benchmarks.
Options
What are the options available to improve the current situation? This section needs to describe in detail the main ideas that have been considered including a full cost/ benefit analysis of each option. All the alternatives to the "do nothing" option should be described here.
Recommendation
Which option are you recommending in this business case and why? How will this option benefit the business more than all the other options including the "do nothing"option? The return on investment (ROI) to the business in investing in your proposal needs to be clearly articulated here.
And finally, some helpful hints:
- Sell, sell, sell! The decision whether to go with your business case recommendations will not just be made on the numbers!
- Write from the perspective of the audience - use their language and describe scenarios as they impact them
- Clearly express the "what is in it for me?" for all the stakeholders and decision makers
- Develop emotional appeal - Make use of anecdotal evidence, war stories etc and use "scenarios" - tell the story of a person in the recommended option in narrative form
Use proto-types, site visits, demonstrations - allow all stakeholders and decision makers to see and feel the benefits!
Need assistance in building a business case? PageUp has a team of HR Consultants with a wealth of experience in preparing successful business cases, particularly in the field of workforce management strategy, process and systems. Contact Heidi Kreuchen at PageUp on +61 3 8677 3777 or +61 2 8088 0600 or heidik@pageup.com.au.
PageUp Growth Again Reaches BRW Fast 100
For the third year running PageUp has been listed in BRW Fast 100. This year PageUp was rated the 30th fastest growing SME in Australia with a phenomenal growth rate of 104.82% over the past three years. PageUp's advanced web technology sits behind the recruitment websites of some of Australia's largest employers; Coles Myer, IAG, CBA, Macquarie Bank, AMP, Flight Centre and BHP Billiton.
"This really is a testament to our fantastic team and our clients who value the integral role technology can play in their recruitment and people management processes."Karen Cariss, PageUp CEO.