A Business Case Evaluation (BCE) is a decision-making tool that assists in making value-based funding decisions. Business cases are developed in the early capital and operating budget planning cycles as a standardized and systematic process to analyze the benefits and costs of various options to solve an identified problem or a cost-saving/revenue-generating idea. A big part of building better business cases is analyzing the system over the long term for monetary and non-monetary aspects. Building better business cases improves reliability and performance by formally documenting “needs” versus “wants.” Business cases serve as a powerful communication tool at all levels of an organization. [Read more…]