Quickly project the viability of your idea without having to build a full-blown business case.
The ballpark figures template is a tool designed to help you make a ‘guesstimate’ of the value your solution will generate.
A key element of the ballpark figures exercise is making the assumptions behind your guesstimates very explicit so that you can refine them as you learn more about the business model supporting your solution.
Individually review the ballpark figures template and write down (in words) what you need to know to calculate a guesstimate for your business model (15 min).
As a team, compare your findings and agree on a formula (in words) (15 min).
Divide tasks and try to turn words into numbers. If you don’t have direct estimates to the right numbers, use a benchmark or make an educated guess, but make sure the underlying assumptions are explicit (15 min).
Calculate your guesstimate and have a group discussion about the impact of the results. (15 min).