Tell us about a time when you prepared a business case? How'd you get started? What was the final outcome?
Question Analysis
This question is a classic behavioral interview question, which seeks to understand your experience and approach in preparing a business case. Interviewers are interested in your ability to plan, develop, and present a business case effectively. They also want to assess your problem-solving skills, attention to detail, and understanding of business objectives. The question requires you to demonstrate your experience by discussing a specific situation, the tasks you undertook, the actions you performed, and the results of your efforts. The STAR (Situation, Task, Action, Result) method is particularly useful here for structuring your response.
Answer
Situation: In my previous role as a Project Manager at XYZ Corp, I was tasked with developing a business case for a new software tool that aimed to improve team collaboration and efficiency. Our team was struggling with communication across departments, which was affecting project timelines and overall productivity.
Task: My responsibility was to create a compelling business case that would justify the investment in this new tool. I needed to outline the problem, propose the solution, and demonstrate the expected benefits to gain approval from senior management.
Action: I began by conducting thorough research to understand the current communication challenges and how they impacted our workflow. I gathered data from team surveys, performance metrics, and industry benchmarks. Next, I identified a range of software solutions and evaluated them based on cost, features, and user feedback. I collaborated with stakeholders across departments to understand their needs and incorporated their feedback into the business case. Finally, I crafted a detailed document that included an executive summary, cost-benefit analysis, risk assessment, and implementation plan.
Result: The business case was well-received by the management team, who approved the budget for the new tool. After implementing the software, we observed a 25% improvement in project completion times and a significant increase in team satisfaction. This success not only validated the business case but also set a precedent for future technology investments within the company.