Making a Compelling Case for a Better Solution for Identifying Funding Opportunities
To get budget and approval to adopt a better solution for identifying funding opportunities, research administrators have to make a sound business case for the investment. Building a compelling business case for a new investment begins with being able to describe the problems you are facing and how the investment will solve those problems. Think about it this way: why would the person who controls the budget give you money to solve a problem you can’t define?
At the most fundamental level, bad opportunity identification systems result in three problems: missing funding opportunities, wasting RA and PI time, and contributing to burnout and turnover.
Read our free whitepaper, "Making a Compelling Case for a Better Solution for Identifying Funding Opportunities" to learn effectives ways to build a business case as well as benefits of the Cayuse Pivot Product. In this whitepaper, you will learn:
- The first step in developing a compelling business case for a new technology investment is describing the problems you are having and their impact on the institution.
- The next step is to describe the results the new system will deliver. Show clearly how improvements in operational processes will support the organization’s larger, strategic goals.
- It is important for people to realize that doing nothing also has a cost. Use data from your institution to illustrate in concrete terms how the cost of investing in a new technology compares with the cost of not making an investment.
- A good vendor will be happy to help you develop and refine a business case that reflects your unique situation and needs. Use their help with this process as an indicator of the kind of support you will receive if you become a client.