Writing a Successful Business Case Penelope O’Hara Service Manager CBU 2

Business Case or Bureaucracy?

Introduction Writing a business case can be a daunting task. The structure and approach described in these slides can be used and adapted as necessary to ensure that your case is robust and offers the best chance of success

What is a business case used for? A business case is used to obtain management commitment and approval for investment in business change (including projects and programmes) through the rationale for the investment A business case provides a framework for planning and management of the business change The ongoing viability of a project or programme will be monitored against the business case

Have you ever written a business case? Was it successful? Why not? What was the most difficult part?

How do you prepare a business case? Make it interesting Keep it clear and concise Minimise jargon and conjecture Communicate all facts as part of the overall story. You’ve done your homework, here is the chance to prove it Provide the reader with a picture or vision of the end position i.e. that which you seek to achieve Demonstrate the value the project brings to the organisation and its financial bottom line Demonstrate that it improves quality through innovation, improving productivity and prevention (QIPP) What are you asking for? If the case is successful what will the benefit be – ie improved patient care through streamlined services, provision of more staff, implementation of new treatment. Will the outcome be reduced waiting times for appointments, better outcomes for patients, increase in activity

What goes into a business case? The level of detail expected will vary depending on the size, value and impact of the project. Each business case should be able to demonstrate: That it fits with the overall strategic direction of the Trust That the proposal can be reference to one or more specific strategic objectives of the Trust That all options have been examined and the selected option will deliver the intended and optimum benefits That the financial information is robust. The costs of the project have been developed, and the sources of revenue and capital required have been identified. Of particular importance is the demonstration that full ongoing revenue costs can be matched by income streams, or in the case of projects designed to improve efficiency, that they can deliver the required savings over an acceptable period

What else goes into a business case? The project is realistic and deliverable in terms of time, cost, quality and other measures of achievability. A project management structure exists that is capable of delivering the project. A full risk analysis has been undertaken and a risk mitigation strategy is in place. Please ensure your objectives are Specific, Measurable, Achievable, Realistic and Timely (SMART). They should be linked to any relevant key performance indicators (KPIs) to enable you to measure your performance against activity for reporting purposes

Some essentials to remember Try to have all colleagues in the same speciality in agreement about the innovation/service/project you wish to develop (strength in numbers) Don’t spend hours filling in forms for something which is a no-hoper (futile work is just frustrating) Look out for opportunities to get outside funding for the innovation/service/project you wish to develop Don’t assume that because you have outside funding that your business case will be automatically approved (there are often hidden overheads) 9

Some more essentials to remember It is essential to work as a team with the general manager and clinical director in the preparation of a business case Try to make your business case cost neutral and/or top priority for patient safety/care Strategic planning in your speciality will make it more obvious which business cases are appropriate. Nothing happens instantly Don’t forget to include support staff, consumables, pathology, radiology etc. These are the things that are most commonly overlooked until you realise you need them (usually when it is too late) A Band 2 receptionist may not cost much on paper but if you decide you need one after your business case has been approved you may not get one 10

Useful hints and tips Keep your wording simple – remember your audience may not have a clinical background. Discretion in detail and terminology should be exercised Think of your business case as applying for a job. What are you applying for? Why are you applying for it? Why should it be given to you? What benefit will it bring? 3. Get to know the following: Your finance manager Your informatics team (for any demand and capacity detail) Your Trust’s business information system – a mine of useful information on your PC 4. Only state the facts (stating the obvious, but true) as you will be monitored on the progress of your business case application when approved 5. Put in data in the form of graphs/tables rather than in words. Finance love graphs almost as much as they love spreadsheets 6. Sell your business case from the very beginning. It is your chance to tell your team’s story. Think marketing - if you don’t have the attention of your audience within the first few paragraphs, you never will

(Mark Twain, American Author and Humourist 1835-1910) And finally Great books are weighed and measured by their style and matter, and not the trimmings and shadings of their grammar. (Mark Twain, American Author and Humourist 1835-1910) In other words keep it factual with good and relevant information that will grab the attention of your audience from the first sentence. Don’t over-complicate or overload with things that are irrelevant to it.

Any questions?