Next, you should identify all the sources of data that will be required to support the business case. These sources may include financial sources from within the company, case studies from similar projects, historical data, industry analysis and forecasts, demographic studies, and so on.
Based on all the inputs available, you should have an idea of how likely it is that the project will be approved. Use that determination to decide whether or not to go ahead and write the document.
The executive summary The executive summary is a high-level view of the business case document. It explains, in a condensed form and plain language, the problem that the proposed project is intended to solve, the major considerations, the resources required to complete the project, the desired outcome, the predicted return on investment and a projection of when that ROI should be achieved.
Because some stakeholders may only read the executive summary, it's crucial to include any information that is essential to an informed decision. Like the abstract on an academic article, the executive summary is presented at the first but written after the rest of the document is completed.
The problem statement This section is a straightforward articulation of the problem that the project is supposed to solve. It identifies the area or areas where there are issues that need to be addressed, such as inefficiencies, missed opportunities, unacceptable market performance or unfavorable consumer response to a product or service.
Analysis of the situation This section describes the situation behind the problem in more detail and how the situation came about. Finally, it provides general projections about potential events if the current situation continues. The conclusion of the analysis should lead naturally to the next section. Solution options In this section, you identify potential solutions to the problem and describe them in sufficient detail for the reader to understand them. If, for example, the solution proposed is the implementation of desktop virtualization , you would define the term and discuss the use of the technology within your industry.
For most problems, there are multiple solutions possible and you should explore all solutions that are potentially the best option. Project description This section describes the project, including all the resources required for its implementation, the project budget and a timeline with measurable goals for all project milestones.
List any assumptions that the reader should be aware of, such as, for example, that government regulations pertinent to the project will not change. You should also list any dependencies, such as completion of other projects or the availability of key individuals.
Note any risks involved with the project and briefly sketch a plan for dealing with them. In the budget section, include financial projections for relevant metrics such as ROI and total cost of ownership TCO. You should also include a figure -- usually an additional percent of the total -- for scope creep. Identify and describe all stages of the project, including a post-project review.
Include measurable criteria to determine the success of the project. Cost-benefit analysis This section evaluates the costs and benefits for all options, including the proposed solution to the problem and any likely alternatives -- which include, of course, taking no action at all. Illustrate your case with data from similar projects and case studies, if possible.
Charts and graphs are often included in this section or may be in an appendix at the end. In any case, graphs can illustrate points that are hard to extrapolate from text-based data, so be sure to include as many as will be helpful. Be detailed about the specific challenge that the company faced. This section should be only a few sentences long. Talk about the solution that was proposed and implemented on the next line.
In this section you will discuss the specific resolution for that company and how the solution can help the industry as a whole. Keep this section to about a paragraph. End your business case with a more descriptive summary of the benefits and successes that resulted. You can call this section of your template "End Results. How to Write a Business Case Template.
There should be an agreement about the scope between the person authorizing the business case and those who will execute analysis. Brainstorm about potential options for resolving the business case problem, issue or goal.
Both during, and after your initial business case brainstorming session, you should discuss potential solutions and plans with key personnel and management. Identify multiple options for implementing your business case plan in order to determine the most feasible option for resolution.
For example, if the business case plan revolves around entering a new market, there should be a brainstorming session held in order to determine that different marketing strategies required to make the new market entry a success.
Once you have identified potential business problems, issues or goals, and potential options for resolution, you should briefly review your business' mission statement. Consider whether your business case is in-line with the mission statement in terms of complying with and furthering business goals, objectives and philosophies.
In most cases, you will be following the directions of a superior whose responsibility is to confirm compatibility between mission and the alternative solutions you provide. Determine who should write the business case. Typically, one or two people take on the duty of writing a business case.
With just one or two writers, the tone and style of the business case will remain consistent. The writer s should have knowledge and expertise regarding relevant business operations, and must be open to accepting input from other team members and business leaders. Write down the problem statement. This statement should provide a straightforward explanation of the identified business problem or issue, and discuss the business areas that the business case must address for successful implementation.
For example, if the business problem is the need to generate additional lines of revenue the problem statement should begin with a statement that: Create a proposed solutions statement.
Express the projects and options proposed by the group as a solution to the business problem, goal or issue. Include what should be accomplished by implementing the proposed business case plan. Indicate what is needed to implement the solution or project, including items like a monetary budget and increased labor numbers. Anything that is needed to complete this solution should be explained in the proposed solutions statement.
Include information about meetings with surveyed departments and target audiences. Provide detailed timelines and time frames for successful project implementation and completion.
Provide ideal dates and worst-case scenarios for plan implementation, as well as a more general time frame for business case plan implementation and completion. Explain the potential consequences and losses that could result from the plan not being implemented. Draft an executive summary. The executive summary is the first, and most important part of the business case. The executive summary will contain the major considerations that will be later discussed in more detail, including the timeline for business case implementation and completion, as well as the projected benefits and costs of business case implementation.
Edit your business case draft. After you have completed a first draft of your business case, your next step should be to carefully review your business case for any unnecessary language and grammatical errors.
Many people think that learning how to write a business case study involves incorporating jargon and corporate-speak into the writing. Fortunately, this isn’t true. In fact, writing a business case study requires you to keep your language simple rather than making it more complicated.
Jun 23, · A business case provides justification for a proposed business change or plan, and typically outlines the allocation of capital and resources required to implement the proposed business case%(46).
The business case is developed during the early stages of a project; skipping or racing through the stages described in "How to Write a Business Case: 4 Steps to a Perfect Business Case Template" is a recipe for failure. A business case document is a formal, written argument intended to convince a decision maker to approve some kind of action. This guide explains what to include in a business case document, how to format it and how to make it compelling.
The benefits of writing a business case as an analyst The primary purpose of a business case is to sell a viable solution for a clearly defined business problem or new product to the company that’s hired you. A case study analysis requires you to investigate a business problem, examine the alternative solutions, and propose the most effective solution using supporting evidence. To see an annotated sample of a Case Study Analysis, click here.