Create the Business Case for the Autonomous Vehicle
At the conclusion of this unit you will be able to
Explain what the business case for a project is and why it is important to a business
Describe the business case for autonomous vehicles and explain why they are attractive to certain companies
Describe some of the challenges faced by autonomous vehicles that make the autonomous vehicle a risky business.
Lesson
Before the Autonomous Car will be created a business case must exist to go forward.
What is a Business Case. Why Do You Need One?
A business case is a formal document or presentation that outlines the justification for a proposed project or investment. It is used to provide a comprehensive analysis of the benefits, costs, risks, and other important aspects of the initiative, to persuade stakeholders that the project is worthwhile and should be undertaken. A business case captures the reasoning for initiating a project or task.
A well-prepared business case helps stakeholders understand the rationale behind a proposed project, assess its viability, and make informed decisions based on a thorough analysis of benefits, costs, risks, and implementation strategies. Business cases are presented in a formal structured format.
A business case is the justification for why a project is chosen and pursued to completion. When a business case cannot be made, the project is abandoned as it is a waste of time, money and resource. In the case where we are applying new technology, here AI, to an autonomous vehicle you can expect you can be certain a lot of effort and time was spent to create the business case. This is so because a lot of money will be spent, pursuing a highly risky endeavor that has many potential points where failure and setback can occur. As a result, unless there is an high return in potential revenue, the project will not be pursued.
How to Create a Business Case
There are many different formats to a business case. Many of you have seen examples of business cases in Systems Analysis and Design with Systems Request and Systems Proposals and Requirements Defintion Statements. Preparing the business case involves an assessment of the feasibility as well as the benefits and risks of a project. They answer the question, is the project worth doing.
They are often composed with the following parts:
Problem/Opportunity.
Benefit and Risks of the Proposition
Review of the Technology solution
The organization’s ability to complete the project.
Costs of the Project including research and development
Evaluation of Alternatives.
How the project will impact current operations, and
Recommendation.
If a project is worth doing you need to answer 4 simple questions:
What is your goal?
What’s stopping you from reaching the goal? This is a risk assesement of several factors such as
Risk of using the technology in the product
Do we have the technological expertise to complete this project?
Can we build what we are proposing
Can we integrate the technological advance to the development project
Will customers accept and purchase our product
How much change is needed to overcome any of the problems above?
Can we solve the problem in this project?
Do we want to take the risk and frustration it takes to be successful?
Is this proposed new product something we even want to undertake? Is it what we do? How will it disrupt our current operations?
Your challenge in this exercise is to answer the question should we develop an autonomous vehicle.
To Create Your Business Case Use all of the Resources in this Module Plus some additional research.
Now Your Assignment
Prior to Drafting Your Business Case
You will be involved with the discussion board. In this discussion board you as a class will discuss your thoughts about where the autonomous car is on the elements of this project. You will be expected to contribute for each of the deliverables outlined below. Think of this board as your team or collaborating partners.
Next Create the Business Case
This will be uploaded to this unit. You must seek out the opinions of your class. You may consult directly with me. I am expecting this deliverable to include your analysis of the viability of bringing to market an autonomous vehicle. You may choose a car or a truck. You may be a car/truck manufacturer or someone who manufactures parts for the autonomous car/truck and be certain you state this fact.
Provide me the business case for any automomous car manufacturer to continue to go forward with the autonomous vehicle. Your business case should be between two to three pages long double spaced, with the emphasis to keep it shorter in length.
Your Business Case should only include three sections:
Problem/Opportunity.
Benefit and Risks of the Proposition
Your Assessment of the Technology Life Cycle. Where are we? See: The Technology Life Cycle
Your assessement on the innovation adoption curve. Where are we? Would You Adopt the Autonomous Car? Introduction to the Innovation Adoption Curve
What problems does the manufacturer have adopting and using the technology The Problem of Adopting and Using a New Technology
Have we, or can we meet critical price, Critial Mass, what is the chance of displacement. How long until the autonomous car becomes a commodity Critical Price, Critical Mass, Displacement, and Commoditization
Assess the technical/product risk through your examination of both the hype curve and the Magic Quadrant.
Hype Curve: Gartner Hype Cycle
Magic Quadrant Magic Quadrant: The Oscars of Technology
Recommendation.
Upload this to the digital drop box
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