Making Effective Proposals

Let’s assume that you have a change in mind for the credit function, and you will need approval and funding from senior management to implement that change.  Here are ten tips about how to make your case:

1. Describe the project in terms of benefits to the department and to the organization.  Make certain that your input is accurate, timely and precise and relevant to the project.
2. Quantify the expected benefits.  For example, rather than saying the change will reduce DSO, say that the change will reduce DSO by 3 days and reduce headcount by one person.
3. Describe the implementation process in terms of milestones involving a formal timeline.
4. Describe the role of the individuals that will be needed to implement the change effectively.
5. Include a detailed description of the resources required and realistic estimate of the total cost since senior management often uses cost/benefit analysis to approve or to reject a proposed project.
6. State how soon the proposal can be made operational once senior management approval is given.
7. Provide a specific date on which the company will begin to see benefits from your recommendation.
8. State in writing by what date the company will see all the benefits of your recommendation.
9. Ask the decision makers for their feedback, and
10. Ask for approval immediately.  You probably won’t get immediate authorization, but you never know.

© 2010 by Michael C. Dennis. All Rights Reserved