Create a comprehensive business case
In this step, you will learn how to create a detailed business case for your projects. A well-prepared business case is crucial for analyzing and prioritizing projects that compete for the same resources. You will explore how to fill out each section, including project info, expenses, resource budgeting, risks, and scorecards. Completing the business case thoroughly will help you submit the project for comparison in the Portfolio Optimization Tool, changing its status to 'Requested' and calculating its overall score. This step will guide you in making informed decisions that align with your company's goals.
Key takeaways
The video outlines the key sections of the business case, including:
- Project Info: General details like the project sponsor and Planned Benefit, which estimates the potential financial gain from completing the project.
- Expenses: Non-labor costs, such as travel or booth rental, that impact the budgeted cost and net value.
- Resource Budgeting: Labor estimates pulled from the Resource Planner, requiring Resource Pools to be set up in Workfront.
- Risks: Identifying risks, estimating their cost and probability, and calculating their impact on the net value.
- Scorecards: Tools to assess how well a project aligns with portfolio goals, using predefined questions and values set by System Administrators.
- Custom Forms: Optional forms tailored for the business case.
Next, you will learn how to use the Portfolio Optimizer to evaluate and prioritize projects within a portfolio.