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Fundamentals II: Benefits

In: Making the Compelling Business Case

Author

Listed:
  • Wolfgang Messner

    (MYRA School of Business, GloBus Research)

Abstract

Next to estimating costs, looking at potential benefits is the second fundamental aspect of any investment decision-making process. While costs bring down the business case, benefits support the suggested investments. As simple as this may sound, identifying, evaluating, and estimating business benefits are three challenging tasks. In the business case process, they are perceived by many as akin to predicting the future by looking into a crystal ball. Getting only one of these tasks wrong can lead to financial disaster. Not knowing what benefits to expect is a sure-fire way for the investment not to deliver any benefits at all. And what is worse, this disaster will not be immediately visible; instead, it will hide beneath the surface. It is only long after the investment has been commissioned and when management suddenly begins to notice that benefits are not being reaped according to the forecast that people begin to question the original business case again.

Suggested Citation

  • Wolfgang Messner, 2013. "Fundamentals II: Benefits," Palgrave Macmillan Books, in: Making the Compelling Business Case, chapter 4, pages 160-197, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-34057-3_4
    DOI: 10.1057/9781137340573_4
    as

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