{"id":55486,"date":"2022-09-21T13:50:15","date_gmt":"2022-09-21T08:20:15","guid":{"rendered":"https:\/\/www.tothenew.com\/blog\/?p=55486"},"modified":"2022-09-21T13:50:15","modified_gmt":"2022-09-21T08:20:15","slug":"how-to-write-a-business-case","status":"publish","type":"post","link":"https:\/\/www.tothenew.com\/blog\/how-to-write-a-business-case\/","title":{"rendered":"How to Write a Business Case?"},"content":{"rendered":"

What is a Business Case?<\/span><\/h2>\n

<\/span>A Business case is a Non-Financial Document <\/b>that helps persuade an organization to take up a project by giving all the relevant facts. It explains why the project is needed & how it will create a solution. It also includes the pros and cons of taking or letting the project go.\u00a0<\/span><\/p>\n

It is an important project document built in the initial phase of the project to convince the client, customer, and stakeholders about the project\u2019s value.<\/span><\/p>\n

In Simple words, it can be referred to as a <\/span>project selling tool<\/b>.<\/span><\/p>\n

Why do we need a Business Case?<\/span><\/h2>\n

A Business case Involves the assessment of:<\/span><\/p>\n

    \n
  • Business Problem\/Opportunity<\/span><\/li>\n
  • Risks<\/span><\/li>\n
  • Solution of the Problem<\/span><\/li>\n
  • Benefits of the Proposed solution<\/span><\/li>\n
  • Costs\u00a0<\/span><\/li>\n
  • Required Time & Resources\u00a0<\/span><\/li>\n<\/ul>\n

    The above factors are the key pointers that a business case cover. These express the problem due to the current situation & further help depict the benefits of the future business vision.<\/span><\/p>\n

    A Good Business Case brings together benefits, disadvantages, costs & risks of the current business & the future vision so that the management team can decide if the project should go ahead.<\/span><\/p>\n

    When to use a Business Case?<\/span><\/h2>\n

    The Business case is needed when resources or expenditure of a project has to be justified. Approval is usually sought from the stakeholders or any other interested parties.<\/span><\/p>\n

    How to Write a Business Case?<\/span><\/h2>\n

    The purpose of the business case is communication. Therefore, each section should be written keeping the intended audience in mind.<\/span><\/p>\n

    Moreover, it should only contain enough information to help in decision-making. One should always write a business case keeping the below points in mind:<\/span><\/p>\n

      \n
    • Do Proper research before proceeding with a business case preparation<\/span><\/li>\n
    • Be Brief & convey only the essential information<\/span><\/li>\n
    • Make it interesting & clear<\/span><\/li>\n
    • Minimize the use of Jargon<\/span><\/li>\n
    • Describe Future vision<\/span><\/li>\n
    • Demostrate Benifits & value<\/span><\/li>\n
    • Keep the consistent style & readability<\/span><\/li>\n<\/ul>\n

      The Project Team should be involved in the development of the business case. However, only a few of the members, having overall project experience, should be engaged in writing the business case. The Business case should result from the whole team’s efforts as it gives a broad range of perspectives.<\/span><\/p>\n

      Elements of a Business case<\/span><\/h2>\n

      The Key Elements of the Business Case include:<\/span><\/p>\n

        \n
      • Background<\/span><\/li>\n
      • Executive Summary<\/span><\/li>\n
      • Situational Assessment & Problem Statement<\/span><\/li>\n
      • Project Description<\/span><\/li>\n
      • Solution Description<\/span><\/li>\n<\/ul>\n

        Benefits of a Business case<\/span><\/h2>\n

        A Business case benefits an organization in many different ways. A few of them are as mentioned below:<\/span><\/p>\n

          \n
        • Gain Control of Resources<\/span><\/li>\n
        • Calculate the Potential benefits of the project<\/span><\/li>\n
        • Simplify Development of the financial Justification\u00a0<\/span><\/li>\n
        • Provide a consistent message to many audiences<\/span><\/li>\n
        • Share & organize thoughts, activities & Knowledge<\/span><\/li>\n<\/ul>\n
          <\/div>","protected":false},"excerpt":{"rendered":"

          What is a Business Case? A Business case is a Non-Financial Document that helps persuade an organization to take up a project by giving all the relevant facts. It explains why the project is needed & how it will create a solution. It also includes the pros and cons of taking or letting the project […]<\/p>\n","protected":false},"author":1494,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":3},"categories":[1994],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/posts\/55486"}],"collection":[{"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/users\/1494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/comments?post=55486"}],"version-history":[{"count":2,"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/posts\/55486\/revisions"}],"predecessor-version":[{"id":55488,"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/posts\/55486\/revisions\/55488"}],"wp:attachment":[{"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/media?parent=55486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/categories?post=55486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tothenew.com\/blog\/wp-json\/wp\/v2\/tags?post=55486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}