1.       Determine your scope and justify it
The scoping of projects often is a weak spot. Do you look at the entire organization or only a project or initiative? And why do you investigate this? How will the results be used?

2.       Prioritise value drivers
Is it about increasing revenues; reputation management; margins; cost reduction; risk management?

3.       Identify the relevant business case
Every value driver potentially has different possible business cases. And what is the causality? How does A lead to B lead to C?

4.       Choose the financial technique
For every type of business case there is the need for an appropriate financial technique. What speaks most to your internal audience? Where possible, use the same method as they do.

5.       Execute the financial analysis
Elaborate the financial justification in collaboration with the financial department.

6.       Apply your findings in the business
The reason of your inventory you have identified in step 1. Now that you have it, use it.

7.       Learn and embed
What have you learned from the exploration of the business case? How would you approach it in the future? Is there a need for a structured information management system to collect the data? And in which way will the results be embedded in the decision making processes?

The original article can be read on GreenBiz.com