Writing a Business Case: What It Is and How to Write

A business case is a document that outlines the rationale for undertaking a business project or initiative. It is designed to help decision-makers evaluate the feasibility and potential benefits of the project and make an informed decision about whether or not to proceed. In this blog post, we’ll discuss what a business case is, why it’s important, and how to write one.

What is a Business Case?

A business case is a document that presents a clear and compelling argument for undertaking a business project or initiative. It outlines the expected costs and benefits, identifies potential risks and challenges, and provides a detailed plan for implementation. The purpose of a business case is to help decision-makers evaluate the project’s potential impact on the organization and determine whether or not it aligns with their strategic objectives.

Why is a Business Case Important?

Writing a business case is an essential step in the project planning process. It provides a framework for evaluating the feasibility and potential benefits of the project and helps ensure that all stakeholders are aligned on the project’s goals and objectives. A well-written business case can also help secure the necessary funding and resources needed to undertake the project.

How to Write a Business Case

1. Identify the Problem or Opportunity: Start by clearly identifying the problem or opportunity that the project is intended to address. Explain why it’s important and what the potential consequences of not addressing it might be.
2. Define the Objectives: Define the specific objectives that the project is intended to achieve. These should be aligned with the organization’s strategic objectives and should be measurable.
3. Analyze the Alternatives: Evaluate the different options for addressing the problem or opportunity, including the do-nothing option. Identify the costs and benefits associated with each option, as well as the potential risks and challenges.
4. Develop the Business Case: Based on the analysis, develop a clear and compelling business case that outlines the expected costs and benefits of the project, as well as the potential risks and challenges. Include a detailed plan for implementation, including timelines, milestones, and resource requirements.
5. Review and Refine: Review the business case with stakeholders to ensure that it accurately reflects their needs and priorities. Refine the business case as necessary based on feedback.
6. Present the Business Case: Finally, present the business case to decision-makers, highlighting the potential benefits and outlining the specific actions required to achieve the objectives. Be prepared to answer questions and address concerns.

In summary, writing a business case is a critical step in the project planning process. It provides a framework for evaluating the feasibility and potential benefits of the project and helps ensure that all stakeholders are aligned on the project’s goals and objectives. By following these six steps, you can write a clear and compelling business case that helps secure the necessary funding and resources needed to undertake the project.