What To Include In Business Case
Essentially it is the summary of a possible answer for a business need. The business case is typically developed by the project sponsor and presented to key stakeholders for evaluation.
This document is crucial when a project requires a major investment of money or resources.
What to include in business case. A business case is a crucial material during the initial planning stage of a proposed project. What follows are the four steps to writing a business case template for your project. Strategic thinking evaluators think in terms of business problems.
And as a summary it provides the logical basis of the proposed solution. For example the preliminary business case may include cost estimates that have a 20 tolerance whereas the full business case would include costings with less than 10 tolerance. A Great Business Case will include de- tails supporting each benefit factual data educated and reasonable assumptions Key Perform- ance Indicators timeframes etc and will relate each of these elements within an algebraic.
Benefits expected expressed in measurable terms against todays situation. The business case should be prepared early in the project before any decision has been made to initiate. Risks summary of the key risks of the project cost extracted from the project plan timescales summary of the project plan investment appraisal.
A business case is a document that justifies a new project to management and stakeholders. How to write a business case 1. Business cases usually describe these items.
Alongside the possible benefits costs and potential risks. Depending on the length of the business case you may want to include a high-level summary of the project. Ownership of the business case.
While some factual real data may be known eg number of employees allowances must be made for potential variation or uncertainty. If at first you dont succeed. This awareness of not only the most likely results but also the best-case and worst-case scenarios is a crucial element in creating a Great Business Case.
Many people will have a stake in your business case and many may have little or no context. Business cases can become hundred-plus-page documents so its important to begin with an. These sources may include financial sources from within the company case studies from similar projects historical data industry analysis and forecasts demographic studies and so on.
So if you utilize words that focus on functional problems like cost per hire and time to fill you will reveal that you are. A business problem or opportunity Possible solutions and their benefits and disadvantages sometimes known as disbenefits Risks associated with the main solution Costs Implementation timeline Consequences for implementing a solution and for retaining the. After youve collected that information you should take the preliminary plans for the business case to one or more people who will have input into the decision.
A pragmatic response offers decision makers a preferred option and why it is preferred and a small range of other alternative options in the business case. It is often helpful to include the costsdis-benefits of inaction as an option against which other actions can be evaluated.
