Depending on what level of management you’re presenting to, I’d leave most of the tech stuff out of it. Virtualization is one of the few tech expenditures with a relatively clear cost/benefit (we used to need 50 servers to meet out needs, now we need 5) which can be clearly demonstrated and need not be overly belabored.
Far more exciting in my mind, and more compelling to management is that it allows IT to be more nimble. Whereas it may have taken weeks to months to provision a new line of business application, with virtualization that can literally happen overnight. If your business has any major applications that are regularly upgraded and need testing, being able to create a new test environment in moments can literally save six figures.
Come up with some scenarios where business units were waiting weeks or months for IT to get its act together to provision and app or environment, compare the time it would take in a virtualized environment, and you’ve got a heck of a sales pitch. Throw in the cost savings and you’re gravy.