Business Case Example (How to Write a Business Case)

Introduction

This tutorial will guide you through the process of writing a compelling business case, a crucial document for justifying projects and initiatives. A well-crafted business case outlines the benefits, costs, and risks associated with a project, making it essential for project approval. Whether you're a business analyst or involved in project management, mastering this skill will enhance your ability to secure project funding and support.

Step 1: Understand the Purpose of a Business Case

Before you begin writing, it’s important to grasp what a business case is and its significance:

• A business case serves to justify the approval of a project or initiative.
• It is often the first project document created by a business analyst.
• Common alternatives include project proposals, feasibility studies, and cost-benefit analyses.

Step 2: Identify Your Audience

Knowing your audience is key to tailoring your business case effectively:

• Common audiences include stakeholders such as executives, project sponsors, and decision-makers.
• Understand their priorities and concerns to address them in your case.

Step 3: Gather Inputs and Conduct Analysis

Collect relevant data and perform analyses to support your business case:

• Gap Analysis: Identify the gap between the current state and desired state.
• SWOT Analysis: Assess strengths, weaknesses, opportunities, and threats related to the project.
• Root Cause Analysis: Determine the underlying issues the project intends to address.

For further guidance on these analyses, consider watching:

• Gap Analysis Tutorial
• SWOT Analysis Tutorial
• Root Cause Analysis Tutorial

Step 4: Outline the Main Components of the Business Case

A well-structured business case typically includes the following sections:

1. Executive Summary: A brief overview of the project and its importance.
2. Problem Statement: Clearly define the issue or opportunity the project addresses.
3. Project Objectives: Specify what the project aims to achieve.
4. Options Analysis: Evaluate different solutions and their potential impacts.
5. Recommendation: Propose the best solution based on your analysis.
6. Cost-Benefit Analysis: Detail the expected costs versus the anticipated benefits.
7. Risk Assessment: Identify potential risks and mitigation strategies.
8. Conclusion: Summarize the key points and reinforce the recommendation.

Step 5: Use a Business Case Template

Utilizing a template can streamline your writing process. You can access a business case template that aligns with this tutorial here.

Step 6: Write Clearly and Persuasively

When drafting the business case:

• Use clear and concise language.
• Be persuasive but honest in presenting the benefits and risks.
• Support your claims with data and analysis.

Step 7: Review and Revise

Once your draft is complete:

• Review for clarity, coherence, and conciseness.
• Seek feedback from peers or stakeholders to identify areas for improvement.
• Revise as necessary to ensure it meets the needs of your audience.

Conclusion

Crafting a compelling business case is vital for project approval and success. By understanding the purpose, identifying your audience, conducting thorough analysis, and following a structured approach, you can create a document that effectively communicates the value of your project. As a next step, consider using the provided template to start drafting your own business case, and explore further resources on conducting necessary analyses to strengthen your arguments.