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Talkcast: Evaluating Business Cases |
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Evaluating Business Cases
Panelists: Dr. Evan Facher, Executive Director of Corporate Development, MEDRAD and Kevin Mendelsohn, Venture Partner, JumpStart Inc.
A business case is an important tool for articulating the potential of a new product or business opportunity. It captures the reason for initiating a project, shows why the effort should be funded, and outlines how the project will be managed. A well conceived business case can make or break your project, whether you are seeking internal funding or external sources of capital. Regardless of whether you are charged with writing or providing a critical evaluation of a business case, it is important to understand what key factors are necessary in building and implementing strong, viable business cases.
In this PSN Talkcast, we interviewed two highly experienced practitioners about how they evaluate business cases for new products and new ventures.
Q&A Interview Questions:
- What are the must-have elements for any solid business case?
- How do you determine if a business case is credible?
- Do you have a checklist of questions that you go through when evaluating a business case?
- To whom should you submit your business case? Are strategic partners or financial collaborators better for specific opportunities?
- What are the most common weaknesses (or areas lacking) in the business cases you evaluate? How should the creator address these?
- How do business case evaluations differ for new ventures versus new products?
- What happens (or should happen) to the business case once the project is resourced and/or funded?
- How do you measure your success rate in evaluating business cases?
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