Business Case

A business case is a formal structured document.

Business case. The purpose of the business case is communication. Through a well considered business plan stakeholders and investors can determine. It often details how the project aligns with strategic goals in the org and as such is a crucial yet often overlooked responsibility for managers. How to write a business case.

When written the document itself is sometimes referred to as a business case. In addition a business case forecasts the costs benefits and risks of an initiative so decision makers and even the project initiators can decide whether a project is worthwhile and why to choose one approach over similar. A business case document is a formal written argument intended to convince a decision maker to approve some kind of action. A simple business case template is one that should be free of excess jargon without talking down to the reader.

A business case captures the reasoning for initiating a project or task. The business case is needed when resources or expenditure on a project has to be justified. Approval is usually sought from the project sponsor and other interested parties. The business case traditionally is a document that defines the core business benefit of a project in order to justify the expenditure of the initiative.

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. At its simplest a business case could be a spoken suggestion. Or a verbal exchange that defines the benefits of an initiative or project. A successfully presented business case can act.

The approved business case provides a record of the decisions made by governance about how to achieve the required return on investment from the work. The business case is reviewed and revised at decision gates as more mature estimates and information become available. It is often presented in a well structured written document but may also come in the form of a short verbal agreement or presentation the logic of the business case is that whenever resources such as money or effort are consumed they should be in support of a specific business need. A business case also known as a business need defines a problem or opportunity measures the effect of a project that solves a problem or exploits an opportunity and clarifies the costs and benefits of a proposed plan.

An informal short document. For instance the finance function may authorize funds and the it department provide resources. A well crafted business case explores all feasible approaches to a given problem and enables business owners to select the option that best serves the organization this guide explains the format and content of a business case document and the processes involved in its.