Five Case Model: Mistakes to Avoid
The Five Case Model Business Case: A Structured Approach to Decision-Making
A lack of stakeholder engagement reduces project support. Business cases that do not involve key stakeholders early risk resistance and delays. Engaging decision-makers and end users improves project alignment and approval chances. Strong stakeholder involvement ensures smoother implementation.
Overlooking risk management is a common pitfall in business case development. Projects often face unforeseen challenges, but a robust risk strategy minimises disruptions. Identifying financial, operational, and reputational risks early improves project resilience. Without proper risk planning, projects may struggle to recover from unexpected issues.
Failure to provide measurable success criteria weakens the business case. Projects need clear performance indicators to track progress and outcomes. Vague objectives make it difficult to assess whether a project has delivered expected benefits. Defining measurable success metrics improves accountability and impact assessment.
Relying on incomplete or outdated data affects decision-making. Business cases should be based on accurate and up-to-date information to ensure credibility. Using unreliable data increases the risk of poor financial and strategic choices. Thorough research and validation strengthen the business case.
Neglecting to review and update the business case throughout the project lifecycle can lead to misalignment. Business conditions may change, requiring adjustments to maintain relevance. Regular reviews ensure that the project continues to meet its intended objectives. A dynamic approach to business case management improves long-term success.