The method features traditional IT-investment analysis methods such as Return on Investment (ROI), Benefit-Cost Ratio (BCR), Payback, Cash flow, Internal and Internal Rate of Return (IRR). It combines with a cost-benefit methodology recognised to evaluate also more intangible benefits. The Reliable Business Case method combined with the RBC Excel Tool’s advantages gives great benefits to the decision and benefits realisation process.
This might be the most innovative RBC feature: the method drives you to increase reliability and encourage you to include all benefits - and cost - even if you cannot give reliable figures. The report explain clearly what is reliable and what is not, and decision makers can either take a decision from that, or extend the scope of the analysis. Starting with a QuickAnalysis and adding iterative improvements, you always are ensured to use a precise amount of effort and time for the analysis.
And remember: PRINCE2 and other project management models, and most other programme governance frameworks, usually lack the governance of the 'business change' process. Processes and tools described in 'Benefits Management' methodology are not there. E.g. PRINCE2 defines some about it, but if you look twice it is really just limited to 'make follow-ups'. That shows ignorance to the fact business benefits arise when people - staff, customers, patients, citizens - had to behave in new ways to make benefits arise. It does not pay attention to something that is serious and critical. Behavioural change is one of the most difficult things we know - everybody on diet or quitting smoking knows that - and it tells us about ignorance what a proactive business change governance is all about. RBC method and the tool fill the absence perfectly. Just add, adapt, and assimilate.
Reliability categories tell what to expect for real
Separation of identified benefits and cost into categories of different reliability - Reliable, Visible, and Assumed - makes calculation more reliable. A fourth category actually also is used - 'Not Estimated' - to capture the complete picture. Such issues can affect the results just as much as the other categories, they are just not estimated. Rising reliability often demands interaction with management, to gain acceptance to objectives, and to identify measurable KPIs. Thanks to the Assumed category, you dare to estimate the value of also more difficult intangible benefits and cost. You simply present to the decision makers a more complete picture of the possibilities. Usually, you can shorten the decision process too.