8617-701 Developing a High-Level Business Case
- January 17, 2024
- Posted by: admin
- Category: ILM Level 7
ILM 8617-701 Developing a High-Level Business Case, part of the ILM Level 7 Diploma, offers a comprehensive exploration of strategic business case development. The program, spanning 30 guided learning hours, integrates induction and tutorial support for a holistic learning experience.
Participants delve into key aspects of business case formulation, including strategic planning, financial analysis, risk assessment, and effective communication of proposals. The course structure incorporates an induction session to familiarise participants with the program, while tutorial support ensures ongoing guidance.
Emphasising practical application, the program equips participants with hands-on experience in crafting impactful business cases. Designed for individuals at the Level 7 Diploma level, the course aims to enhance skills in aligning business cases with organisational objectives, promoting advanced decision-making and strategic planning capabilities.
What is the purpose of this unit?
The main goal of this unit is to equip individuals with the skills to create a high-level business case for improvement. This business case should clearly show the impact of a targeted inquiry, aligned with the organization’s strategic goals and other planned enhancements.
In simpler terms, participants in this unit will learn how to put together a strong and detailed proposal for making things better within an organization. This proposal will not only identify areas for improvement but will also demonstrate how these improvements align with the overall strategic goals of the organization and any other planned changes. The aim is to ensure that the proposed changes have a meaningful and positive impact on the organization as a whole.
Who should take this unit?
This unit, 8617-701 Developing a high-level business case, is designed for individuals who are seeking to enhance their skills in strategic planning, business case development, and organisational improvement.
What are the learning outcomes?
- Understand the strategic context for change to identify the requirement for a high-level business case
AC 1.1 Establish a business need that takes full account of the drivers for change and the strategic fit to organisational goals and priorities
- Take a close look at your organization’s strategic situation and the reasons for change, both inside and outside the company. Use at least two different theories to help you understand and analyze these factors.
AC 1.2 Propose, and obtain agreement for, the development of a high-level business case that draws on existing knowledge and current practice, uses a robust methodological approach, and takes account of the needs of stakeholders
- Share your plan for creating a business case that addresses a specific need in the organization, as identified in the analysis at 1.1. Provide various options, like doing nothing and two other alternatives. Explain the methods you’ll use to assess these options. Show this to the people involved (stakeholders) and get their approval on how to move forward.
- Be able to generate and evaluate viable options and apply decision-making techniques
AC 2.1 Evaluate viable high-level business case options and associated costs and benefits
Create a detailed business plan for each of your options. At level 7, this means using strong data and crafting a thorough CBA (Cost-Benefit Analysis). This analysis should cover financial costs, financial benefits, the ratio of benefits to costs, and the perceived benefits, which should be measurable, believable, and doable. Additionally, think about the non-financial impact using methods grounded in solid theory or practical experience.
AC 2.2 Justify the selection of a best business case option
Explain in detail, which option you suggest and why, considering the information provided earlier. You can present this recommendation as a brief summary report, a webinar, a podcast, a recording, or a slideshow with a voiceover—whatever works best
- Understand how to select and justify the strategies required to manage the high-level business case through to the desired business outcomes
AC 3.1 Design an appropriate change management strategy for implementing the high-level business case that takes full account of diversity, risk and performance measurement and has been informed through active participation in a learning community
- You should share a plan for how to manage the changes when you decide on an option. If you’ve already begun this plan, now you can make it even better by adjusting it for your chosen option and considering diversity, risk, and how to measure performance.
AC 3.2 Justify the choice of media to evidence the impact of the enquiry to satisfy and influence stakeholders and to enhance own personal brand
- How are you planning to share the business case and the plan for putting it into action with the people involved (stakeholders)? Think about different ways and choose the one that works best—something that will impact how they think and meet their needs. Also, consider how this can improve your personal image or relationship with them.
AC 3.3 Evaluate the impact of the enactment of a significant part of the change management strategy
- Look closely at a big part of the plan for managing changes and see how well each part is doing right now. What’s the effect, and what can be done to make it work even better?
What are the assessment requirements?
The assessment requirements for 8617-701 Developing a High-Level Business Case involve presenting information in various formats. Here are potential ways you could fulfil these requirements:
- Presentation with Visuals:
- Present the information using diagrams, slides, or a short report to convey key points effectively.
- Written Proposal or Slides with Minutes:
- Choose a written proposal or slides and include minutes of meetings to demonstrate stakeholder agreement.
- Written Report, Webinar, or Slide Show:
- Present the information in a written report, webinar, or slide show, offering flexibility in communication methods.
- Structured Plan with Narrative:
- Develop a structured plan complemented by additional written or oral narrative to provide a comprehensive overview.
- Written or Recorded Narrative With Presentation:
- Present a written or recorded narrative alongside the chosen presentation method to enhance communication.
- Narrative with Gantt Chart:
- Combine a written or recorded narrative with a Gantt chart illustrating progress made to date.