Making the Case for IT Investments
Making new technology purchases for an organization can be crucial and end up saving the business a lot of money in the long run, however, convincing stakeholders might be a difficult task. The best way to justify a big spend is to build a solid business case demonstrating how the new technology will meet stakeholder priorities and expectations.
There are four steps that will help build a robust business case and allow stakeholders to see the value of the new technology.
Align Priorities: Gather information from across the organization to understand the needs and goals of everyone who will be impacted by the change. Ensure the new solution aligns with the stakeholder’s expectations and priorities. A few more tips to build your case:
Complete a thorough discovery that will help build your team’s case
Explain how the new technology will integrate into the existing infrastructure
Measure Outcomes: All outcomes should relate to business value and how it's created and delivered in a specified timeframe. Ask your stakeholders which metrics will matter most to them and then articulate those in your presentation
Equalize cost, value, and risk: Gather data that expresses the overarching value of the new solution, not just the initial cost.
Document Your Case: Document all findings and present the business case along with a problem statement. Use storytelling to effectively communicate why addressing this problem is necessary and the recommendation on how to solve it. Use language that fits your audience of stakeholders so they can clearly understand what is being presented