What do we mean by creating value?
Investing our time and resources in initiatives that further the mission of the University or help us directly or indirectly achieve our strategic and tactical objectives.
We create value by assessing and selecting those initiatives that have the greatest overall benefit with the lowest investments in time efforts or cost. By carefully, assessing the impacts and total cost of investments including cost and efforts we can understand which project should have the greatest overall priority. By focusing our resources on these efforts we can ensure that we are efficiently and effectively helping to promote the University’s broader goals. We document our expectations by creating a business case.
Why Develop Business Cases?
The business case tools help to do the following:
- Provide decision makers with key criteria for selecting and assessing proposals
- Helps to select and focus on the right investments in time, human resources and capital
- Consider cost, value, risk and strategic fit
- Provides the opportunity to assess and balance projects against available human capital to commit to feasible outcomes
- Facilitates the review of projects prior to prioritizing proposals
Go to the Tools, Templates and Forms page to download the business case template. The template will help you create an effective business case.