Blockchain business cases  207

• Set up communication flow to make sure that all stakeholders are

communicated on time

• Raise risks and issues on time

• Assess the delivery of the outcomes against timelines, cost and benefits

• Reset the milestones as soon as an issue has occurred or there is a high

probability of not delivering the business outcome, by getting sign-off

from the sponsor of the programme

FRAMEWORK TO DRAFT A

BLOCKCHAIN BUSINESS CASE

Creating a business case is an art and science as it involves creativity to

articulate the problem and how the problem can be solved to contribute

to strategic outcomes. It is also a science as it requires quantitative data

to quantify the business problem. It also justifies the opportunity cost of

not improving the existing position and then articulates the future state

through transformation that will provide ROI and justify the budget ask

through the business case. Although it seems possible in theory, having a

framework could assist in creation of the business case based on the best

industry practices. A framework can also help to make sure that important

aspects are not ignored or forgotten, which could lead to either rejection

of the business case approval or potential failure of the execution of the

business case.

In this section, we will go through a few templates of the business case

framework and also create a blockchain business case for a practical prob-

lem (Figures 7.3 and 7.4).

Framework template

Executive summary

A high-level summary of the problem statement, remediation

initiatives, budget ask, timelines and strategic value gained

Leadership Team

Name of the leadership team along with their roles and

titles, setup to run the strategic programs

Strategic case

Includes list of strategic objectives and justification of their

value to the vision of the organization

Economic case

Benefits of the strategic objectives economically e.g.

business growth globally or gaining market share

Commercial case

How the new initiatives will increase revenue, maximise

margin or return on investment (ROI)?

Financial case

How the investment on new initiatives will grow the

company financially e.g improve brand name, increase

profits and valuation growth

Management case

Establishment of new senior management including board of

directors to drive organisation growth

Deliverables Roadmap

A Roadmap of deliverables with timelines and quantifiabilly

measured

Benefits

List of qualitative and quantitative benefits that would be

delivered as part of strategic programmes execution

Risks

A list of all risks that could be encountered during the

programme lifecycle

Recommendations

A set of recommendations to assist the sponsor of the

business case in selecting the most appropriate option

Options

A list of options to execute the strategic initiatives. Each

option should have cost, benefits, timelines and risks

associated against it

Figure 7.3  Business case framework.