Live Zoom Discussion – Session Summary (26/1/21)
In this session, we welcomed GrowCFOs very own Kevin Appleby to discuss how to build a business case including the Finance Leaders importance in the appraisal of them. Kevin has had an extensive career as both a Chartered Accountant and Management Consultant. He now spends most of his time running training courses, supporting the GrowCFO community and even co-hosts a podcast called ‘The Next 100 Days‘
During this session we covered:
- Why you need a business case?
- What should a business case contain?:
[Strategic case / Econmic Case / Commercial Case / Financial Case / Management Case]
- How should the CFO and their team be involved in its appraisal?
- What happens when you invest without a business case?
- Controlling the project lifecycle
- Ensuring your business case links directly to how it impacts your organisations’ strategic goals.
- Ensuring your business case highlights how it adds value to the other stakeholders
- Using it to demonstrate have thought through all your options to address your problem:
[Organisational Scope Options / Service Solutions Options / Service Delivery Options / Implimentation Options / Funding Options]
- How the complexities of a business case might differ from pubic to the private sector but the same principles apply
- Creating a matrix to determine when a finance leader should be involved in a business case appraisal.
[eg. High-Risk Projects / Over a set Budget / Mission Critical / Novel / Reputation Risk / Includes Multiple Organisations / Not part of the business plan]
- The importance of reviewing a project to appreciate ROI and acknowledge lessons learnt. (We will cover this subject in greater detail in a follow-up session)
Kevin was kind enough to share his session slide which can be reviewed here:
Find out more:
If you have any further questions or wish to speak with Kevin further, he is more than happy to connect on LinkedIn (Found Here) or you can send him a direct message through the GrowCFO portal.