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In the next Step 4, business cases are created for the most promising initiatives identified in the gap analysis. The purpose of the business case is to justify the investment needed to implement the selected initiative. The business case will enable airline management to take an informed decision regarding the adoption and implementation of an initiative. The business case will:
- Detail the background and rationale of the initiative
- Describe the strategic context and the need for investment
- Assess the costs (financial and non-financial)
- Assess the benefits
- Assess the risks (operational, safety, …)
- Include a comparison of viable options/alternatives
- Sum up the assumptions and their validity as well as the main conditions for success
Obviously, the applicability of these items may differ from one initiative to the next. And depending on the complexity of the initiative and the impact it will have on other airlines processes, the business case may be very comprehensive or rather concise.