A business case is a paper that explains why a business project or effort should be done. It is a thorough look at a project’s costs, rewards, risks, and possible returns. It is often used to convince partners to invest in or support the project.
Typically, a business case has the following parts:
The executive summary is a short outline of the project and its main goals.
Background: A statement of the problem or situation that the project is trying to solve.
aims: A list of the project’s specific goals and aims.
gains: A thorough study of both the financial and non-financial gains that could come from the project.
Costs: An estimate of how much the project will cost in total, including both direct costs (like labour and goods) and secondary costs. (such as lost productivity during implementation).
Risks: An analysis of the project’s risks, including possible obstacles to success and ways to deal with them.
Alternatives: A review of the costs and benefits of the different ways to solve the problem.
Recommendations: A clear and straightforward suggestion about whether or not the job should be done and, if so, how it should be done.
A well-written business case can help partners decide whether or not to invest in a project or venture, and it can also give them a plan for how to do so successfully. It is an important tool for project managers and business leaders who want to make sure their projects are in line with the organization’s strategic goals and have a good effect on the business.
