Speaking of ROI, you also want to address how executives should think about and measure the success of an investment in PM software. Immediate wins such as reduced costs and time savings will be sure to get their attention.
However, the true and long-term value of PM software lies in your ability to leverage historical data to make more reliable estimates and forecasts for future initiatives. Again, the key here is to focus on the unique benefits that PM software provides that an alternate tool would not. Specifically: creating a single source of truth that improves visibility, data integrity, and decision-making.
Without taking this step, it can be easy for executives to mislabel an investment as a failure, which would make it more difficult to secure funding in the future. This last step is critical for securing executive buy-in for your proposal. The majority of organizational change efforts fail , and executives know this. In their eyes, it may be less risky to say no to your proposal, avoiding a change effort altogether, than it is to back one that may not prove successful.
And of course, should your business case be approved, leveraging change management best practices during the roll out of the new PM software will help you gain buy-in and support user-adoption of the tool. Change management protocols to consider include creating communication plans, using culture hacks, and leveraging super-users.
Following the six steps above will help you build a bulletproof business case, and our free business case template will help you present your plan clearly and effectively to executives. Download a copy for your next presentation! PowerPoint , Google Slides.
Here are a few resources to help you get started:. Head over to our project management software directory. Once there you can filter products based on specific features and read user reviews to find the best solution for your needs. Looking for Project Management software?
Check out Capterra's list of the best Project Management software solutions. Tags: business case Project Management Software. Her research helps small businesses leverage the latest technology and trends to solve key business challenges and achieve strategic goals. Her work has been cited in various publications, including CIO. Comment by Jordan Weaber on Jul. Your privacy is important to us. Project governance : Name each person and their role on the project.
Yes, use names, not just job titles, in order to make sure everyone is clear on the resources needed. Click here to download. To calculate this number, break down the costs associated with the software purchase and implementation. Finding the TCO is often the starting point for calculating return on investment ROI and comparing vendor price quotes. This involves totaling the upfront costs for each solution, calculating the net present value of recurring costs over the expected lifespan of the tool, and then totaling the upfront costs and present value of future costs.
Source: Gartner full content available to Gartner clients. Other numbers you may need to factor in include the salary for any new employees required to maintain the software e. True ROI is often hard to measure and even harder to guarantee. Business leaders understand the gray area around this number but will expect full transparency from you. You need partners at every step in the process to help develop the plan.
Remember that we are advising the organization with our well-thought-out recommendation. If your business case is rejected, ask:. Work through these questions and re-evaluate your proposal. Ask to re-submit your proposal at an agreed-upon time in the near future, involve more partners, and then strengthen your business case. Now that you know how to write a strong business case, here are a few next steps you should take to help you compare and evaluate solutions:.
See how your peers have rated systems for qualities such as ease of use and customer support. Click to download it now. RAPID vs. What is a business case? Why is it important? Creating a business case serves multiple purposes: Ensures alignment on the business problem and the solution. Names the project team members and business owner. Formalizes the budget approval; can also provide backup if the funds allocation is later questioned.
Acts as the guiding light through the lifecycle of the project to keep the effort aligned with intention. Be sure to answer questions such as: What is the business problem this will solve? Why do we need to solve this problem now? Are there changes to rules or regulations that are making this investment mandatory? And, include highlights of the business problems that will be solved with the new software. Cost savings e. Revenue enhancement e.
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As in many things, it can often be best to keep it simple. A simple business case template is one that should be free of excess jargon without talking down to the reader. A simple business case template will help to create a clear, concise presentation that will relate to stakeholders and others who may not have your expertise when it comes to your project. A short business case template may contain only a few options or examples, allowing for more clarity in your presentation.
This is optimal if you know you will not have much time. Sometimes, the best way to make your case is to keep it to a few brief key points. This is where you may wish to stick to a one-page business case template. Viewing a business case example can be helpful in illustrating how key elements of the structure for business cases and presentations are properly used.
Such examples help demonstrate what successful cases do correctly, and how these can be applied to your project. The use of a template for your business case will allow you to state your case to your stakeholders in a simple, professional format. This is a simplified example. The business model holds long-term assets and waits for them to appreciate. Sales and cost of sales are the appreciation and write-down of assets, plus the management fees.
These topics are:. Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. The 1 Rated Business Plan Software. Don't bother with copy and paste. Get this complete sample business plan as a free text document.