Developing a Business Case for

parakeetconspiracyManagement

Nov 20, 2013 (3 years and 6 months ago)

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Developing a Business Case for
Records Management Projects

Presented by: Lauren Nathanson, CRM


May 20, 2010


Agenda


What is a Business Case and Why Should I Create One?


What are the Components of a Great Business Case?


I’ve Created a Business Case, Now What???


Case Study


Mini
-
Workshop


Closing / Q&A


What
is
a Business Case?


A business case is a
tool that supports planning and
decision making



including decisions about whether to buy,
which product to bring to market, which projects to fund,
which vendor to choose, or

when to implement, for instance.




The business case addresses, at a high level, the business need
that the project seeks to meet. It includes:



the reasons for the project


the expected business benefits,


the options considered


the expected costs of the project


the expected risks

Why Should I Create One?


A business case has 3 important roles:


Captures knowledge


Vehicle for receiving approvals and funding


Provides a consistent message to all audiences



What a business case says about
you
:


You are a professional


You care about your project


You are prepared (you have thought through the project’s implications)


You have initiative


Components of a Business Case


Executive Summary


Background


Objectives


Options


Resources


Cost


Benefits


Recommendation

Some Notes on Financial Metrics


Be sure to include internal costs (i.e., employee
effort, time spent training) as well as external
costs



Show financial benefits over time (Year 1 vs.
Year 3, for example)



Calculate a Return on Investment (ROI)




I’ve Created a Business Case….Now What???


Get buy
-
in from an influential sponsor


Note: Don’t wait until the business case is complete to get this support


Keep this
sponsor in the loop from the beginning



Meet with final decision makers to discuss your business
case


Present them with a full
-
color, bound version



Work with your sponsor to get project approval and budget



Refer back to the business case during the project to make
sure that you are staying on track with costs and benefits


7 Ways to Get the Ear of Top Management



Link the project’s benefits to “goal statements” or commitments they
have made in the past.



Gather benchmarking or competitive data that shows you may be getting
left behind.



Ask another executive to sponsor your project and have them give a
presentation on why they support you.



Build a groundswell of interest among your coworkers.



Gather data on customer preferences and expectations.



Introduce your executives to other executives who are pursuing similar
projects.



Give them a great article or book on the topic with a cover sheet
explaining what you think the opportunities are for the organization.

Case Study



Should the HR Department Move to
Electronic Employee Files?


Background




All employee files are currently in paper format


The department is currently managing 2400 active and 6000+
inactive employee files


The department is not all located in one central location which
makes sharing information difficult and time consuming


If records are created at a remote location, they must be mailed to
Headquarters


The department is considering imaging the existing paper files and
moving to an electronic new hire/benefits enrollment process



Case Study

Case Study


Objectives



Employee Files can be accessed by HR employees not
located at Headquarters


Decrease in departmental mailing expenses


Decrease in time spent searching for records


Decrease in time spent “sharing” records


Increase in reliability of Employee File


Case Study


Options



Create an electronic process (go
-
forward) but do not
scan existing files


Create an electronic process (go
-
forward) and scan
existing files using an
internal

resource


Create an electronic process (go
-
forward) and scan
existing files using an
external

resource


Do nothing

Case Study


Resources



Scanning Clerk (25 hrs/week)


Scanner/Imaging Software (existing)


Records Repository (existing)


Programmer


Estimated 130 hours


E
-
fax Solution

Case Study


Costs

Case Study


Benefits (financial)


Case Study


Return on Investment (ROI)



5 Year ROI


Investment: $39,659


Savings Over 5 Years: $284,764


Net Savings: $245,105


ROI = (Net Savings/Investment) x 100 = 618%




For every
$1

of investment, this project will return
$6.18

to the company!


Case Study


Benefits (Non
-
Financial)



Employee Files can be accessed by HR employees not
located at Headquarters


Decrease in departmental mailing expenses


Decrease in time spent searching for records


Decrease in time spent “sharing” records


Increase in reliability of Employee File


Case Study


Recommended Solution



Create an electronic process (go
-
forward) and
scan existing files using an internal resource




Questions?


Contact Information:

Lauren Nathanson

Records Manager

Extra Space Storage

801
-
365
-
4639

lnathanson@extraspace.com