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Abstract
Ensuring Executive Approval and Support of Your ProjectTrack: Electric and Gas
Author(s): Heather Jernberg
The key to establishing executive approval for your project is to develop a solid business case. The definition of a business case includes a description of the problem or opportunity that exists, a plan and schedule, and a cost-benefit analysis. The key to a successful business case is to give definition to your gut feeling and to put the pieces of the business case into the perspective of your executives. In other words, how does what you propose fit into the vision and goals of the organization, what is the investment required, what are the benefits to be derived, where do the benefits come from and when will they occur, how quickly can the project be done, what are the risks associated with the proposed project and how will these risks be mitigated, and what are the annual cash flow requirements by quarter? For utility companies it is also important to categorize the investment in terms of capital and O&M to determine the impact on line-item budgets and potential utility rate impacts. Having a bulletproof business case that is communicated in crisp executive terms will increase your chances of winning executive approval and support.
Heather Jernberg
Convergent Group
6399 S. Fiddler's Green Circle
Suite 600
Englewood, CO 80111
Phone: (303) 566-6957
E-mail: Heather.Jernberg@convergentgroup.com