Governments are demanding more effective use of resources, and delivery of desired outcomes, especially when investing in transport infrastructure and services.
Professionals, therefore, need to be able to develop and present robust and compelling business cases to secure funding for investment. Or at least be able to understand how a business case is put together
Let me ask you:
- Does preparing a business case make you anxious and stressed?
- Have you struggled to get a business case approved?
- Do you want to know the key success principles in preparing an effective business case?
Here you will find some answers ...
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Effective Business Cases
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Analysis of transport challenges means identifying and describing the specific problem or problems being faced and getting an understanding of the underlying cause-and-effect relationships. Avoid Mistakes The article “How can you avoid transport policy mistakes?” discussed some of the key mistakes that transport professionals experience when solving complex challenges: Problem-Solution Thinking Forgetting key stakeholder perspectivesIll-defined problem … Read more
Let us start with defining strategy. What is strategy? A strategy is a longer term direction to achieve a particular goal. For example, the vision for road safety is ‘No person should be killed or seriously injured on Australia’s roads’ and the strategy to achieve that includes ‘adopting the safe system approach – safe roads, safe speeds, safe … Read more
Let’s start with quantitative analysis like benefit-cost analysis (BCA) – there is a lot of experience behind this quantitative approach and is supported, mandated even, by central funding agencies, particularly Treasury departments. So, let me start with BCA. This method is only as good as the data behind the analysis, which usually depends on demand … Read more
Much of the work of transport professionals involves delivering projects. Setting up the foundation is key to success – whether a planning project or business case or a technical or infrastructure delivery project. I’ve been thinking about what transport will look like in the ‘new’ normal – whenever and whatever that looks like. Currently, the traffic … Read more
Successful project management use DICE factors to beat the odds. Ask four different project managers what are the critical factors of successful delivered projects and you will probably get four different answers. This is because they each would have different lessons learned from their own experience. Extensive research by the Boston Consulting Group (BCG) found … Read more
In a constrained transport funding context, it is more and more important to be able to manage projects and programs to achieve the greatest impact and make efficient use of limited resources. This requires us to identify and manage transport outcomes, do more with less, and ensure the greatest value for money. At the whole … Read more
Investment appraisal is about deciding the option that promises the best return, relative to the risk of failure involved. What are the success principles that help you in developing a robust business case? For a private investor considering an investment, the project option that returns the best profit, relative to the amount invested and the … Read more
Being asked to write an executive summary for a business case proposal may be a daunting prospect if you’ve never done it before. It is much more straightforward when you keep some simple concepts in mind as outlined below. Intended Audience Firstly, it is very important to know your audience. The intended audience for an … Read more
Today’s professional is expected to work smarter and work harder. But what does working smarter and harder means? Professional practice effects how you are perceived by your peers and management: who you are, what you’ve got to offer, how viable your ideas are, and how well you present them. It is what makes people listen … Read more