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Business Case for Human Resources Management System Project Date Prepared by: Olsa Hoti 1.0 Introduction/ Background The biotechnology market is vast and rapidly expanding, with a global valuation estimated at USD 1.37 trillion in 2022 and expected to reach approximately USD 3.88 trillion by 2030. This market is expected to have a 13.96% growth by the year 2030. ( Biotechnology market size, Share & Growth Report, 2023 ). Investment and venture capital activity in biotechnology has also been on the rise, with the United States leading in investments but Europe and China closely following, indicating a robust global interest in the sector. (Cancherini, Lydon, Silva, & Zemp, 2021). Knowing the position of this industry, an effective human resource management system is undeniably needed for every company. With that being said a growing company as Biotech Inc. needs an new version of the HRMS to integrate HR functions as it scales up. This system is vital to maintain efficient operations and manage the workforce effectively as the company grows. 2.0 Business Objective The objective of this project is concrete:  To update and implement the HRMS with a new system, namely, Workday HCM. o To be able to automate and integrate HR processes to support operational growth, improve employee satisfaction, and ensure compliance, ultimately increasing productivity and reducing costs. Such processes include recruitment, onboarding, performance management, team-based awards, and professional development tracking. 3.0 Current Situation and Problem/Opportunity Statement As mentioned previously, Biotech Inc., a fast-growing company in the biotechnology industry, has reached a point where its human resource functions have become unproductive due to rapid staff growth and operative growth. The need for a new Human Resource Management System (HRMS) has been recognized as a priority to integrate various HR activities, including recruitment, onboarding, performance management, team-based awards, and professional development tracking into a single and flexible

system. This system is intended to enable Biotech Inc. to manage its growing workforce more effectively and establish efficient HR processes. 4.0 Critical Assumptions and Constraints Assumptions: The market will continue to favor innovative biotech solutions. The company's growth trajectory will not significantly deviate from predictions. Constraints: The project must be completed within one year. The budget should not exceed the amount of €3 million. . 5.0 Analysis of Option and Recommendation The committee recommends purchasing a new system which should be similar and align the existing HRMS, considering the need for a flexible, scalable solution that can be deployed globally within the strict timeline and budget. 6.0 Preliminary Project Requirements The new HRMS will need to: Combine with current systems smoothly. Adjust to Biotech, Inc.'s specific needs. Grow with the company's expansion. Follow international employment laws. 7.0 Budget Estimate and Financial Analysis 8.0 Schedule Estimate 9.0 Potential Risks

10.0 Exhibits Exhibit A: Financial Analysis Refrences: Biotechnology market size, Share & Growth Report, 2030. (n.d.). Retrieved from https://www.grandviewresearch.com/industry-analysis/biotechnology- market#:~:text=The%20global%20biotechnology%20market%20size,from %202023%20to%202030

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Cancherini, L., Lydon, J., Silva, J. S. da, & Zemp, A. (2021). Retrieved from https://www.mckinsey.com/industries/life-sciences/our-insights/whats-ahead-for- biotech-another-wave-or-low-tide

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