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Essence Alpha - OPPORTUNITY

OPPORTUNITY

Identified

  • An idea for a way of improving current ways of working, increasing market share or applying a new or innovative software system has been identified.
  • At least one of the stakeholders wishes to make an investment in better understanding the opportunity and the value associated with addressing it.
  • The other stakeholders who share the opportunity have been identified.

Solution Needed

  • The stakeholders in the opportunity and the proposed solution have been identified.
  • The stakeholders' needs that generate the opportunity have been established. Any underlying problems and their root causes have been identified.
  • It has been confirmed that a software-based solution is needed.
  • At least one software-based solution has been proposed.

Value Established

  • The value of addressing the opportunity has been quantified either in absolute terms or in returns or savings per time period (e.g. per annum).
  • The impact of the solution on the stakeholders is understood.
  • The value that the software system offers to the stakeholders that fund and use the software system is understood.
  • The success criteria by which the deployment of the software system is to be judged are clear.
  • The desired outcomes required of the solution are clear and quantified.

Viable

  • A solution has been outlined.
  • The indications are that the solution can be developed and deployed within constraints.
  • The risks associated with the solution are acceptable and manageable.
  • The indicative (ball-park) costs of the solution are less than the anticipated value of the opportunity.
  • The reasons for the development of a software-based solution are understood by all members of the team.
  • It is clear that the pursuit of the opportunity is viable.

Addressed

  • A usable system that demonstrably addresses the opportunity is available.
  • The stakeholders agree that the available solution is worth deploying.
  • The stakeholders are satisfied that the solution produced addresses the opportunity.

Benefit Accurued

  • The solution has started to accrue benefits for the stakeholders.
  • The return-on-investment profile is at least as good as anticipated.