What is the initial step in a business case approach?

The initial step in a business case approach is to state the problem. This foundational phase sets the stage for the entire process, as it clearly outlines the issue that needs to be addressed. By articulating the problem, stakeholders gain a shared understanding of what is at stake and why action is necessary. This step is crucial because it ensures that the subsequent steps, such as identifying potential solutions and evaluating resources, are all targeted at addressing the right issue.

When the problem is properly defined, it allows for a focused exploration of possible solutions in later stages. Without a well-defined problem, efforts to find solutions or gather resources may be scattered and ineffective, potentially leading to wasted time and resources. This first step not only helps in creating a compelling business case but also paves the way for effective alignment among team members and decision-makers, ensuring that everyone is on the same page regarding the objectives of the initiative.