Each of the individuals in your company has his or her idea about something. However, when it comes to the activities of the business or project management, you have to choose what’s best. Each of these ideas may aim to the betterment of your business, but to what extent? What is the price of its implementation? Will this idea solve a persistent problem, or is it going to be a temporary fix or bandaid solution? Address these questions by letting your team create a business case for every business activity that you intend to execute. You will then conduct a business case analysis to investigate this proposal formally.
What is a Business Case?
A business case is a concept that justifies a proposed business activity by using its benefits as a basis. It should also include the background of the project and the alternative options. You can use these additional solutions in case the board members reject the proposal. As a stakeholder, it is your job to develop this type of documentation. You will present it through a written document. Aside from that, you can also showcase it in the form of a presentation and agreement. You may think that it is an unnecessary task if you already know that it is beneficial to the company. It can be the case unless your company involves multiple shareholders and sponsors. Every business plan that your company executes may use its resources. Thus, every stakeholder and sponsor will want to make sure that every project implementation that the company runs is worth the expenses. Consider it as a teamwork activity, which requires the agreement of the entire team.
Traits of an Ideal Business Case
In writing a business case, you should kee it in mind that the business’ leaders are your audience. Thus, you have to ensure that it follows a certain standard. Design your business case to be measurable, adaptable, transparent, consistent, accountable, business-oriented, comprehensive, and understandable.
11+ Business Case Samples in PDF | DOC
Below are the templates and examples of a business case that you can use in developing one for your project or business. You can download these files in PDF or MS Word formats.
1. Initial Business Case Sample
2. Business Case Template
3. Business Case in PDF
4. High Level Business Case Sample
5. Business Case Example
6. Sample Business Case Template
7. General Business Case Sample
8. Business Case for Project Extension Template
9. Sample Business Case Example
10. Small Business Case Sample
11. Making The Business Case Template
12. Business Case in DOC
How to To Write a Business Case?
1. Know the Problem.
One of the things that a leader with great leadership skills does is to focus on business goals. To achieve that goal, he or she needs to address the problems that are hindering it. In this step, you have to create a detailed synopsis about this problem and create a business timeline to discuss this opportunity.
2. Look for Alternative Options
In this step, you will find a solution to the business problem. However, are you sure that it is the only way to solve this problem? To determine that, list down other possible solutions to the said problem. Detail each answer with its beneficial effects and risks. Indicate what its impact on the company’s financial state. In this way, you can determine the best option for a company problem. Additionally, through this document, in case the stakeholders decline your preferred solution, you can easily give them another answer that they can consider.
3. Recommend a Solution
To determine the best problem solution, rank them accordingly. We recommend you to create a list of criteria to base the ranking. You can use cost analysis for every solution or the weight of the benefits that it can give.
4. Detail the Outline of your Implementation Plan
Now that you have determined the best solution for a business problem explain how you will attain your goal with the solution that you have chosen. It is time to convince the stakeholders. Create a roadmap that will detail how your plan will get to the desired state of your project.
Ensure that each action plan your company executes is beneficial and feasible by creating a business case. With the information that we have discussed in this article, you should get an idea of how to implement this business approach.
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