What is it ?
The business case outlines the reasons for pursuing a project, detailing the present circumstances, envisioned future, risks, prospects, expenses, and advantages. It encompasses data on the market, economic indicators, and other options to weigh.
It must stay aligned with other foundational documents, such as:
- Project proposal
- Project charter
- Project management plan
Structure
A potential list of sections for this document:
Executive summary
Offer a concise overview of the business case, presenting a snapshot for stakeholders about the project.
Background information
Illustrate the project's surrounding environment and its business significance. This section highlights any issues or chances and shows how it correlates with the company's strategic objectives.
Project objectives
Specify the tangible goals the project seeks to fulfill.
Project benefits
Elaborate on the expected positive outcomes, like enhanced efficiency, better quality standards, or potential revenue growth.
Project definition
Specify the primary deliverables and the scope of the project. When relevant, explain the method to meet these deliverables.
Economic context
Give a synopsis of the market landscape, touching upon technological readiness, legal implications, environmental factors, and competitor insights.
Alternatives analysis
Outline the considered options and highlight your suggested choice. For every option, detail its advantages, expenses, and potential challenges. Explain how each option addresses the issue or requirement, and if relevant, incorporate an evaluation of its viability.
Financial analysis
Compute primary financial metrics, encompassing metrics like current net value, investment returns, projected cash streams, and total costs over the product or project's lifespan.
Risk overview
Provide an overview of major risks and potential gains related to the project, emphasizing their potential repercussions.
Appendices
Incorporate additional materials such as data tables, in-depth studies, and cited sources for reference.
Conclusion
Use this document, or a tailored version of it, as a type of presentation to the organization that will benefit from the project. Unlike the Project proposal, this document goes into the details and actually performs the analysis required to determine if this project is the best way to use the organization’s resources, right now.
