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Making the Case for Your Capital Project Through Business Case Evaluation

Making the Case for Your Capital Project Through Business Case Evaluation

IMC-2019 Focused Forum 47:15 Minutes 

by Laith Alfaqih, Stantec and John Fortin, Jacobs

The maintenance community in organizations face the challenge of providing, maintaining and improving the services provided to other parts of the organization such as operations while dealing with budget limitations. Business case evaluation (BCE) processes help ensure that resource allocation decisions are directed to projects and services that provide the greatest benefits to the maintenance customers. BCEs are used as integral parts of comprehensive asset management and capital improvement programs (CIPs) to make good capital investment and decisions. BCEs require analytical flexibility to address many different types of capital project needs, high performing organizations establish a common structure for all BCEs and apply refined analytical methods to all evaluations. A sound BCE process helps ensure that capital projects are evaluated using common methods and assumptions and that capital planning decisions are based on evidence rather than advocacy.

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