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Competence Framework - 5 of 29

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COMPETENCE 5: BUSINESS CASE

The ability to prepare, gain approval of, refine and update business cases that justify the initiation, investment and/or continuation of change initiatives in terms of benefits, costs and risks.

Introduction

Business cases provide the justification for undertaking and continuing with a change initiative. The business case needs to be reconsidered at regular review points during a change initiative, in case the original justifications are affected by later developments.

KNOWLEDGE

Knowledge of the relevant factors affecting business cases.

 

APPLICATION

Determine the relevant factors which could influence the development of a convincing business case.

Consider:

  • The perceived value/benefits that will be delivered to the organisation and the links to the strategic objectives.
  • The different commercial approaches, based on organisational strategy, and perceived cost, time, quality, risk and resource required.

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KNOWLEDGE

Knowledge of ways to analyse relevant factors affecting business cases.

 

APPLICATION

Support a persuasive argument through effective analysis of relevant factors which could influence the development of a convincing business case.

Consider:

  • The range of sources that could be used to gather relevant data.
  • The ways of sharing the data to promote understanding and meet stakeholder needs.

KNOWLEDGE

Knowledge of ways to create a benefits framework.

 

APPLICATION

Establish a benefits framework for a business case.

Consider:

  • The driving factors of the benefits.
  • The stakeholders, timing, and impact of the benefits from a change initiative.

KNOWLEDGE

Knowledge of the influencing factors in a business case.

 

APPLICATION

Document a business case in a relevant format, and gain an initial and ongoing formal acceptance of a business case.

Consider:

  • The governance structures that are in place for initial and ongoing viability and acceptance.
  • Ways to justify and quantify value, including the options that have been considered.
  • Stakeholders’ expectations and commitment to a change initiative.

KNOWLEDGE

Knowledge of the factors that may impact or influence the value of a change initiative.

 

APPLICATION

Monitor and refine a business case as circumstances and factors change, including implementing a change control and configuration management system when updating a business case.

Consider:

  • The controls in place to manage any changes to the business case.
  • The potential impact of risk on the business case.
  • The effects on stakeholders and the wider organisation.
  • Ways to actively manage stakeholder engagement to ensure continued support.