Business Case Assessment
Despite the best of intentions, IT projects fail at an alarming rate. According to an often-cited study by Gartner, an astonishing 75% of all US IT projects are considered to be failures by those responsible for initiating them. But what determines the success or failure of a laboratory IT project? Certainly, the measure of success is more than just being completed on time and within budget. The project also needs to be aligned with business goals to the extent that the company ultimately derives business value from the project. Additionally, completing a project on time and within budget is difficult to achieve if you don’t have sufficient buy-in from the right people. Having the leadership team aligned across your organization by understanding the purpose, value, and rationale for a project helps promote the necessary cooperative atmosphere between stakeholders that leads to project success.
Enter the business case assessment. The business case summarizes the results of all the research and analysis done on both the enterprise and the project in order to support project decision making in a transparent way. The Business Case will provide the information required to fully understand the options to select the most appropriate solutions. A quality business case assessment should also help stakeholders understand how the project:
- is supported by a strong case for change
- creates value for the business
- optimizes value for the cost over the full lifecycle of the project
- is financially affordable
- can be delivered successfully
- minimizes risk
At Astrix, we understand that strategic planning is essential for companies in the dynamic and ever-changing science and technology industries. As such, we utilize our unique combination of science, technology and business experience to fully analyze your enterprise and laboratory informatics project. Our business case assessment will help you understand all aspects of your project’s impact on your business, and assure that your laboratory informatics project will provide value for your business over its full lifecycle. We help clients develop laboratory informatics strategies based on solid business practices that are supported by our collective experience with hundreds of different scientific companies.
The components of the Business Case include:
- Solution Option Evaluation
- Resource Allocation Assessment
- Risk Assessment and Mitigation
- Financial Analysis
- Impact Analysis