Determine the Best Option

Deciding what to do is the critical step but it is made much easier with the evidence of the problem and benefits.

Diagram of person standing on a green arrow with 3 directions to choose from depicting Decide on Business Investment.

What will it do for you?

Deciding what to do is fraught with difficulties. Organisations traditionally decide what to do by initiating projects. The issue that bedevils many organisational projects is that they are initiated with a solution in mind, without allowing creative space for consideration of the problem and the range of possible options.

Perhaps an exec decides “we need a new CRM system” or a middle manager decides “we need a brand new set of automated reports”. It’s tempting to ‘just get going’—start specifying detailed requirements, and start the process of building or buying and implementing a solution. Indeed, in a Dilbert-esque world, it is easy to imagine fiery managers yelling a favourite mantra: “Don’t bring me problems bring me a solution!”

An Investment Logic Map (ILM) aligns the four primary elements needed to make the best decision

It represents an ‘agreed investment story’, it is written in plain English in a way that will allow a everyone to understand the:

• Problems

• benefits

• response

• and solution

It has the evidence collected along the way and is used to make the best, methodical and logical decision for your organisation.

At this stage we also identify the financial and non-financial costs for the following areas:

• Project duration – how long will it take to implement the project, can it be broken into smaller parts etc.

• Financial cost – what is the financial cost estimate

• Change management required – is your organisation ready, how much change is involved, what skills are required etc.

• Process changes required – how many processes need to be changed, what impact does this have on operating models etc.

• Technology involved – do you have the technology available, is innovation required etc.

This allows you to identify interventions to address the problem and mix and match them to come up with the best option.

Equal Bytes also has a Project Prioritisation system which is used to rank business cased and projects against each other – see.

You can be confident you have all the right information to make an informed decision – which could be to not proceed.

Outcomes
  • Options Analysis
  • Full Business Case
  • Risks Assumptions
  • Change Management
Next steps
Graphic with a title of Define the problem. Text reads Investigating and determining what is the actual problem that needs to be solved and/pr business opportunity to take up.
Graphic with title Analyse the benefits from an investment. Text reads Determining the benefits that can come from solving the problem and/or the opportunity.
Graphic with title Decide and text of Determining the benefits that can come from solving the problem and/or from the opportunity.
Graphic with the title Implement Investments. Text reads Implement the solution by one or more projects and continually reviewing the project to make sure the problem will be solved and benefits realised.
Graphic with heading Realise benefits. Text reads Tracking and making sure that the benefits are being delivered and imbedded in BaU operations.
Graphic with the title of Learn for future business improvements. Text reads Working out how you can do things better next time.
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