What is a Business Case?
A business case is a document which outlines the justification of your startup business. It includes:
- A description of the business problem (or opportunity) which exists in the business.
- List of the available options for delivering a solution to resolve the problem.
- The benefits and costs associated with each solution option.
- A recommended solution for approval.
When do I use a Business Case?
The business case is usually presented by senior management within the business to an identified business sponsor. It is the first document used in the project lifecycle and, once approved, allows the project to be formally defined.
During the development of a business case, it may be necessary to undertake a formal feasibility study. This process involves a more detailed assessment of the current business problem/opportunity, the various solution options available, the likelihood of a successful implementation for each solution option and the recommended solution option for implementation. The feasibility study provides a business case with more suitable solution options.
The business case is frequently referred to during the project. At each quality review point, the business case is used to determine whether or not the benefits, costs, risks, and issues prevalent match those outlined in the business case.
At the end of the project, a post-implementation review (PIR) will determine whether or not the project delivered the business benefits outlined in the business case. In this regard, the success of the project is measured against the ability of the project to deliver the criteria outlined in the business case.
Business Case Template Outline
- Executive Summary
- Business Problem
- Environmental Analysis (include Business Process as applicable)
- Current Business Process
- Objectives
- Problem Analysis
- Business Problem
- Business Opportunity
- Available Options
- Option 1
- Description
- Benefits, Goals and Measurement Criteria
- Costs and Funding Plan
- Feasibility
- Risks
- Issues
- Assumptions
- Option 2
- Description
- Benefits, Goals and Measurement Criteria
- Costs and Funding Plan
- Feasibility
- Risks
- Issues
- Assumptions
- Option 1
- Recommended Option
- Option Rankings
- Option Recommended
- Implementation Approach
- Project Initiation
- Project Planning
- Project Execution
- Project Closure
- Project Management
- Appendix
- Supporting Documentation
How to use this template?
This template provides a guide on the topics usually included in a business case document. Sections may be added, removed or redefined at your leisure to meet your particular business circumstance. Example tables, diagrams, and charts have been added (where suitable) to provide further guidance on how to complete each relevant section.
