1 Reflect and Review

Now that you have completed your work on Making a Financial Case, let us review our workbook objectives.

You should be better able to:

• understand the ways in which changes and ideas develop into projects.

  • What changes have been experienced in your work area? What successes does your workteam have in implementing new projects?

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  • It is important to understand the aims of your organization when making financial cases. What does your organization look for in viable projects?

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  • In assessing viability, organizations need to consider experience, available time and resources, and ideas for projects should be generated with such matters in mind. Can you think of three or four projects which would improve the situation of your workteam and organization? (Perhaps SWOT and PESTLE techniques will help you.) Make a note of these.

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The second workbook objective was to:

• use techniques to appraise investment.

  Organizations use different methods to appraise projects and we looked at payback period and return on investment in this workbook.

  As a first line manager, you may be involved in making a case for an investment or in collecting information for an investment appraisal. Think about your present role and make a note of anything else you can do to assist in effective appraisal.

  • Cost-benefit analysis techniques may also be relevant to your organization. What are the areas that need to be included in such an appraisal?