No matter how junior or senior a person is in an organization, there will always be occasions when you must convince others to invest in your ideas, choose your brand, or make them take action against something that you want them to take.
Sometimes a simple but compelling argument suffices. It isn’t always the case. In order to convince them to alter their minds, you’ll need to give a business case presentation.
If you think that creating a business case presentation from scratch is a very boring process, then you must check these free PowerPoint templates!
What is a Business Case?
A business case is a document that describes the costs, risks, and advantages of a certain endeavor, justify the expenditure and explains why decision-makers should approve the plan.
Students seeking an MBA or business analytics certification course with a marketing emphasis are often expected to create several business case studies in order to strengthen their business forecasting and analytics abilities.
Depending on your business and activity, this might range from a simple document to a formal presentation in front of stakeholders. A business case, regardless of style, seeks to convince readers that a project or endeavor is worthwhile and that one technique is superior to others.
A business case should not be confused with a project proposal. They are not the same thing, despite having similar purposes and covering some of the same issues. A project proposal focuses on the nature of the project, going into specifics such as deliverables and timelines.
They are also distinct from project plans, which describe how a project will be carried out in great detail. A business case, on the other hand, explains why individuals should invest in your initiative.
What is the Need for a Business Case Presentation?
Business case presentations have two purposes. Firstly, they assist companies in understanding project options and the costs associated with each in terms of time, money, and opportunities lost or gained.
Second, they demonstrate to decision-makers that particular courses of action are rigorous. A business case presentation will depict, for example, two IT systems that have been reviewed, but one of the suppliers would better meet the needs of the organization.
Business case presentations demonstrate that judgments are based on study and facts rather than a single person’s opinion. They can assist organizations in justifying their investment and protecting project leads if anything goes wrong.
How to Deliver a Business Case Presentation?
While you might be anxious to jump in and promote the initiative in which you believe, it is a good idea to take a step back and ensure that you have prepared a sensible argument. The more specific the information, facts, and numbers, the better your business case presentation.
The context of the scenario, problem statement, opportunity, financial analysis, and solution description are the primary components of a business case presentation.
If you’ve never delivered a business case presentation before, try using a business case template to assist you through each phase. Here’s a quick rundown of each component of a successful business case presentation.
Step 1. Start by Establishing Context for the Current Scenario
Not all audience members will be aware of the present scenario that has led to your idea. Try to briefly describe the idea’s background. This should not be the problem statement, which will come later.
Step 2. State the Problems
This slide is where you can make your audience understand the significance of the issue and, as a result, why the solution you’ll subsequently give is vital.
Consider the situation’s immediate and indirect impacts, as well as the internal and external implications, while explaining the issues. Include statistical analysis if you are already experiencing negative consequences as a result of the circumstance.
Step 3. Evaluate Opportunities
Your pitch must be directly tied to the problem presented. Here you can share the potential solutions to issues side by side. This part serves as a transition from your issue to your solution.
Another method to deliver this part is to investigate the possible sources of the previously mentioned issue. The next stage would be to present the various options before deciding on the one you’ve selected to pitch.
Step 4. Analyze Finances
The figures are perhaps the most essential factor in the minds of stakeholders. They have the power to make or break your business case. Present your existing financial condition and contrast it with the figures you may achieve if they sponsor your venture.
Step 5. Describe Solution
Now that you’ve convinced your audience of the need for change, it’s time to provide your solution. Your solution description’s format will be determined by the type of options you’re proposing.
In general, you should define what needs to be done, how it will be done, who will execute it, and when it will be done. Let’s have a look at some sample solution forms for the cases from the introduction:
- Impressing the project manager to include you in a team: List your abilities, how they connect to the project’s needs, and what you’ll be able to accomplish as a member of that team.
- Convincing your supervisor to devote time to resolving a product issue: List how you will rectify the problem, how long it will take, how many resources you will need, and how much it will cost, especially in comparison to the alternative.
- Persuading HR to offer an employee a raise: List how much of a raise your employee will require, any additional non-monetary bonuses that could be appropriate, and the benefits of retaining that talent.
Wrapping It Up
You’ve got an excellent idea. Perhaps it’s a project you truly believe in, a decision that must be taken, or a strategy that will alter the game for your company.
In any case, if you express your proposal ineffectively, it will not be approved. Create a compelling business case presentation and successfully present it, and you’ll have outcomes coming your way in no time.
We hope these tips will guide you to successfully deliver a business case presentation!