How would you develop a business case for your product and defend it in front of the Investment Review Board?

To develop a compelling business case, I would first clearly define the target market and the specific pain points my product addresses. I'd quantify the market opportunity, including the Total Addressable Market (TAM), to demonstrate the potential scale of impact. Next, I would analyze existing solutions, highlighting their shortcomings and how my product offers a superior alternative. This leads into articulating a strong value proposition that clearly communicates the unique benefits and competitive advantages. Finally, I would detail the required investment, outlining development and ongoing maintenance costs, alongside the necessary resources. To defend this case before an Investment Review Board, I would present a data-driven narrative, focusing on market validation, financial projections, risk assessment, and a clear return on investment (ROI) strategy, prepared to answer detailed questions on all aspects of the plan.