Business Case? We Don’t Need No Stinking Business Case
A business case justification would seem to apply to most, if not all, investment
decisions, but there are definitely situations where the business case will not
be the overarching consideration.
Consider regulatory/compliance requirements. For example, food products
and medicines need to be maintained within defined environmental parame-
ters, or they may be subject to reduced shelf life, at best, or be deemed a dan-
ger, at worst.
Or look at safety and risk management solutions. Does your plant operate in a
dangerous environment? What does it mean to your employees (not to mention
your shareholders and insurers) to deploy solutions that will keep them safe?
Ironically, some safety solutions, even where cost is no object, can still have a
business case made on the basis of reduced insurance premiums, increased
productivity and happier employees.
There may also be considerations around the need to create new services and/
or provide better customer service. Here the justification will come from
strengthening the brand, building trust and demonstrating core values.
A Path Forward and Avoiding “Analysis Paralysis”
By now, we trust that you have bought into the need for a business case, and we
suspect you are beginning to think through whether or not your operations are
measurable, and whether or not you can establish a baseline.
Many clients tell us that they have gone through significant internal thrashing
and turmoil on business case development. Many have gotten stuck on the
technical aspects of the problem first, and failed to have the business case
ready when it was time to make the proposal to their leadership in order to
proceed.
The CTP team has the tools a nd experience to help you build your IoT business
case while architecting and helping you build a solution that will achieve your
objectives. Our lean/agile approach to developing IoT solutions can accelerate
your time to market, and help you deploy outcome-based solutions with full
management support.
Get started on your next IoT initiative
cloudtp.com/iot
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