Making a Winning Business Case
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WEBINAR
Make a Winning Business Case
Scott L. MitchellChair, OCEG & Project: Risk Leader
Karl KimballExecutive Advisor, TEKsystems
Former SVP, Bank of America
WEBINAR
Make a Winning Business Case
Scott L. MitchellChair, OCEG & Project: Risk Leader
Karl KimballExecutive Advisor, TEKsystems
Former SVP, Bank of America
Objectives
• Understand how to build a conceptual model that allows you to validate a “big idea” before you waste time building analytical models and presentations.
• Understand how to build an analytical model that economically justifies your preferred solution.
• Understand how to build a compelling pitch that persuades your audience.
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Making a Winning Business Case
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By failing to prepare, you are preparing to fail
Benjamin Franklin
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Introduction
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Making a Winning Business Case
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You may ask a question at any time by clicking “Ask a Question”
We read every single one of these.
We will either answer during the live stream or after the session.
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If slides (or any other documents) are available, you may get them by clicking “Download slides”
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Let’s Begin!START
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Are you currently making a business case?
A. YesB. NoC. Not right now but soon!
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Making a Winning Business Case
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Most Business CaseMethodologies
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Making a Winning Business Case
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CONCEPT• Define the purpose• Establish how the solution will deliver value• Understand the audience that you need to persuade
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CONCEPT• Define the purpose• Establish how the solution will deliver value• Understand the audience that you need to persuade
ANALYSIS• Identify and blueprint multiple options• Evaluate costs, benefits, risks and ROI• Select a single course of action to propose
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Making a Winning Business Case
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CONCEPT• Define the purpose• Establish how the solution will deliver value• Understand the audience that you need to persuade
ANALYSIS• Identify and blueprint multiple options• Evaluate costs, benefits, risks and ROI• Select a single course of action to propose
PITCH• Use scientific (and ethical) techniques of persuasion• Finalize the narrative and visual design• Present and follow-up to drive decisions
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CONCEPT
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Making a Winning Business Case
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CONCEPT
Critical Factors
Common Mistakes
Examples
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CONCEPT
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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CONCEPT
Critical Factors
Common Mistakes
Examples
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CONCEPT
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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CONCEPT
Critical Factors
Common Mistakes
Examples
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In the past, have you spent time on big or small ideas?
A. Big ideasB. Sadly, only small ideasC. A mix of both
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Making a Winning Business Case
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SMALL IDEAYou told me to look into third party management software packages.
I put together an RFP and have some initial numbers. Seems like it will cost around $500K to $1.5MM.
Which one should I pursue?
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BIG IDEAOur industry is changing because of the new stability and growth of middle-class consumer that led to massive economic expansion in NewGeo.
Every one of our competitors is trying to establish a foothold in NewGeo, and at least $5 Billion is at stake.
Our organization aims to be one of the top widget providers by 2022. But today, we are not.
To meet our objectives and to transform our market position, we must quickly and effectively engage with the best partners to extend our capabilities to sell, market and distribute our widgets in this region.
My plan will help us more quickly and effectively engage with and measure up to 850 partners every year. This plan will help us reach our NewGeo objectives of growing: revenue by 50%; market share by 50%; and consumer awareness of our brand by 50%.
My plan will enhance our Third Party Management capability including our people, processes, and technology. All of these changes will take place over 12 months and require $5 Million investment. We expect to deliver an internal rate of return ~74% over 48 months when compared to our existing approach.
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Making a Winning Business Case
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BIG IDEAOur industry is changing because of the new stability and growth of middle-class consumer that led to massive economic expansion of NewGeo.
Every one of our competitors is trying to establish a foothold in NewGeo, and at least $5 Billion is at stake.
Our organization aims to be one of the top widget providers by 2022. But today, we are not.
To meet our objectives and to transform our market position, we must quickly and effectively engage with the best partners to extend our capabilities to sell, market and distribute our widgets in this region.
My plan will help us more quickly and effectively engage with and measure up to 850 partners every year. This plan will help us reach our NewGeo objectives of growing: revenue by 50%; market share by 50%; and consumer awareness of our brand by 50%.
My plan will enhance our Third Party Management capability including our people, processes, and technology. All of these changes will take place over 12 months and require $5 Million investment. We expect to deliver an internal rate of return ~74% over 48 months when compared to our existing approach.
We need to make a decision before the end of this quarter to
NEED
VALUE
SOLUTION
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NEED
VALUE
SOLUTION
SPECIFIC AUDIENCE
NEED
VALUE
SOLUTION
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Making a Winning Business Case
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If you don’t know where you are going, you’ll end up
someplace else
Yogi Berra
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ANALYSIS
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Making a Winning Business Case
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ANALYSIS
Critical Factors
Common Mistakes
Examples
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ANALYSIS
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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ANALYSIS
Critical Factors
Common Mistakes
Examples
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ANALYSIS
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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When you say ROI, do you mean return on investment
or risk of inaction?
Paul Gillin
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How does your company judge ROI?
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Making a Winning Business Case
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ANALYSIS
Critical Factors
Common Mistakes
Examples
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ANALYSIS
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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PITCH
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PITCH
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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PITCH
Critical Factors
Common Mistakes
Examples
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PITCH
Critical Factors
Common Mistakes
Examples
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Making a Winning Business Case
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PITCH
Critical Factors
Common Mistakes
Examples
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Unless commitment is made, there are only
promises and hopes; but no plans
Peter Drucker
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Making a Winning Business Case
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PITCH
Critical Factors
Common Mistakes
Examples
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Do you want help making a business case?
A. YesB. No
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Making a Winning Business Case
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What topic?
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Making a Winning Business Case
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WEBINAR
Make a Winning Business Case
Scott L. MitchellChair, OCEG & Project: Risk Leader
Karl KimballExecutive Advisor, TEKsystems
Former SVP, Bank of America
WEBINAR
Make a Winning Business Case
Scott L. MitchellChair, OCEG & Project: Risk Leader
Karl KimballExecutive Advisor, TEKsystems
Former SVP, Bank of America