Creating a Project Business Case
The purpose of a Business Case is to justify the project expenditure by identifying the business benefits you're going to deliver. Here's how to create a Business Case in 4 simple steps:
Step 1: Identify the Business Problem
Usually, projects are undertaken to solve a particular business problem or opportunity. So you need to investigate that business problem or opportunity and describe what it is, how it's come about and the timeframes in which it needs to be addressed.
Only with this knowledge, will you truly understand the purpose of the project and the timeframes for delivery. Without this knowledge, it's like building a house without a solid foundation.
Step 2: Identify the Alternative Solutions
Now that you understand the business problem/opportunity in depth, it's time to identify a solution to address it. To ensure that you choose the right solution, take these steps:
Step 3: Recommend a Preferred Solution
Before you rank the solutions, set out the criteria for ranking them and choose a scoring mechanism as well. For instance, you may decide to:
Step 4: Describe the Implementation Approach
By now, you have selected a solution and you have confirmed its benefits and costs. The next step is to convince your Project Sponsors that you have thought through the approach for implementing it. So document the steps you're going to take to build the solution for your client. Remember, only with a clearly defined Business Case will you ensure you deliver the business benefits expected by your customer.
Source: Method 123
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