Across the globe, public sector organizations pour vast sums into vital new infrastructure, from the buildings we work in to the equipment that keeps essential services running. With such significant investment at stake, the pressure to make sound decisions and demonstrate real value for money has never been greater.
At the heart of this crucial process lies the business case – the rigorous scrutiny that ensures proposed investments are the right fit, affordable, and deliver genuine value to stakeholders. Yet, the preparation of these vital documents is often a complex and costly undertaking, with organizations frequently navigating the same challenges and expending significant resources, despite the wealth of existing guidance.
Consider the UK alone. With over 900 public sector bodies typically managing around ten key investments annually, the sheer volume of business cases produced is staggering. Conservative estimates suggest that over £1.35 billion is spent each year within the UK public sector on their creation.
This is where the Better Business Cases guidance steps in. Designed to streamline the process and standardize best practices, it aims to significantly reduce the in-house and external consultancy costs associated with producing high-quality business cases. The potential savings are substantial, estimated at a compelling 15 to 25% – a figure that translates to a staggering £200-330 million annually within the UK public sector alone.
While often associated with major capital projects, the principles of a robust business case are equally critical for smaller initiatives. The fundamental requirement remains the same: a thorough examination of all relevant financial and non-financial aspects to ensure the optimal solution is selected.
The stark reality is that project failure rates remain alarmingly high. Depending on the research, anywhere from 20% to a staggering 80% of projects fall short of expectations. Gartner studies suggest that a shocking 75% are deemed failures by their initiators, often due to missed deadlines, budget overruns, or, most critically, the failure to deliver the promised outcomes. Indeed, some reports indicate that half of all projects exceed their budgets by a massive 200%!
So, what truly defines project success? Is it simply delivering on time and within budget? Or does it go deeper, encompassing the satisfaction of stakeholders, the achievement of business requirements, and, ultimately, the realization of the promised business value?
This industry-focused white paper explores the critical need for a new Better Business Cases Certification. It explores how standardized knowledge and skills can empower professionals to create more effective, efficient, and ultimately, more successful business cases. It’s time to move beyond reinventing the wheel and embrace a framework that not only saves significant resources but also dramatically improves the likelihood of delivering projects that truly deliver on their promises.
Ready to make a tangible difference to your organization’s investment success? Read the full white paper to discover how the Better Business Cases Certification can equip you and your team with the essential skills for a brighter, more value-driven future.
