A business case is created before a project is ever initiated. It provides the information necessary to determine whether a project is worth the required investment.
Employee loyalty and recruitment A business case generally includes the following components: Executive summary highlights the key points in the business case.
These include important benefits and the return on investment. Project background provides relevant information so that the people who must approve the business case can decide whether the project is both viable and worth doing.
If a project involves complicated technologies, the audience may not believe the financial analysis until it understands how the technologies enable the benefits.
Business opportunity describes the motivation for the project that the business case will propose. The business opportunity includes a definition, a statement of scope, and a discussion of objectives that the project will help the organization achieve.
Alternatives are analyzed for the proposed project. For Business case template, an online learning business case might compare the benefits and costs of classroom learning.
All business cases involve at least two alternatives: Costs describe the resources for undertaking the project and their monetary value. The costs should include the cost of development, implementation, training, change management, and operations. Benefits describe the projected financial benefits from undertaking the project.
Benefits are usually presented in terms of revenue generation and cost reductions. Financial analysis compares benefits to costs and analyzes the value of a project as an investment. The analysis may include a cash flow statement, return on investment, net present value, internal rate of return, and payback period.
Other benefits describe other expected benefits that cannot be quantified in terms of dollars and cents. Assumptions are events that a business case anticipates will happen. For example, a business case might assume approval from a regulatory agency.
Critical assumptions must occur for a project to succeed. Constraints are schedule, resource, budget, staffing, technical, and other limitations that may impact the success of a project.
For example, a project might require that all employees have access to a central database. Organizational considerations examine how a project impacts an organization.
Risk analysis evaluates the probability that a project can be implemented successfully and the risks involved in undertaking the project.
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Risks also may result from not undertaking the project. Moving Forward explains how the project should be developed and implemented. This is usually explained in terms of phases and tasks.
This section also offers suggestions on how to proceed. Submit a Comment Your email address will not be published.A business case is intended to convince key decision-makers of the merits of a particular course of action.
It is a key part of your project documentation: if a project brief describes what needs doing, and a project plan explains how, the business case sets out why. The first section of your template is the "Executive Summary" -- a short description of the business case, which should be written last.
To keep it in the form of a short description, indicate a limit in terms of number of words or pages allowed. Case study #1: Build buy-in ahead of time Erik Mason, the marketing communications manager for an aesthetic skin laser company in the Northeast, felt the firm needed a new image.
The business case templates have been designed by a bunch of professionals who know what you want and what you require.
That gives the templates a professional touch which is of utmost importance to any business case. A business case template is a tool that assists in the development of a well-considered business case.
The business case is used as an assessment tool. It’s primary purpose is to provide the information necessary to determine whether or not a project is justified.
Guidance: Use this “Business Case-on-a-Page” to provide a high-level overview of the project. See below for instructions pertaining to each individual section. (NPV) and costs, as well as an objective comparison of project risk and value calculated using templates on pages Multiple projects in a portfolio can be easily compared.