A business case is a project proposal that contains a cost-benefit analysis. It is a document and requirement when you want to suggest a development project to communicate your ideas to the shareholders.
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Table of Content
- Business Case Definition & Meaning
- What Is a Business Case?
- 10 Types of Business Case
- Business Case Uses, Purpose, Importance
- What Is in a Business Case? Parts?
- How to Design a Business Case?
- Business Case vs. Business Plan
- What Is the Difference Between Business Case, Project Management, and Problem Statement?
- Business Case Sizes
- Business Case Ideas & Examples
Business Case Definition & Meaning
A business case is a document with the critical data regarding your project proposal.
Business cases are instrument heads and shareholders’ requests to see whether your proposal has heavier benefits than the costs and risks.
What Is a Business Case?
A business case is a proposal for a specific project that can develop and improve the business or company. However, it is crucial to prove that although it has disadvantages, the advantages can counter and beat the risky factors. Hence, to convey to the company boards of directors, a business case must come into place to discuss and elaborate on the processes, budget, and overall activities.
10 Types of Business Case
Project Business Case
A project business case is a proposal regarding a project. It is a page of documents providing an outline and executive summary of the project. Project business case allows you to encourage the company to trust your plans.
Construction Business Case
Construction projects are crucial in society. Since it has its risks and particular budget a construction business case is a must. That way, you can explain the benefits of the construction project and why it is worth it and advantageous.
IT Business Case
IT or information technology is a crucial component in a business since companies operate with digital techniques nowadays. IT business case is a presentation showcasing your development plan and suggestions to the higher-ups. That way, you can convey your plans on processes that will improve IT management and solutions.
Software Business Case
Software plays a critical role in the professional industry. A software business case assists you in proposing a particular software solution to the company. It presents the software’s innovative tools and functions that ensure business development.
Strategic Business Case
A strategic business case provides a strategic framework that presents the critical data of a project. It holds the diversity of the possible results and processes needed to reach these specific objectives. It also showcases possible resources, security, financial flow, and scope of your project proposal.
Product Business Case
A product business case is the presentation and discussion of the product you planned to launch. Heads or shareholders will not just easily approve; that is why a business proposal is required for them to understand the advantages of your product. Product business cases are the study and infographics of your product exhibiting the value and costs.
Promotion Business Case
A lot of employees like to get promoted; however, for you to get your promotion you will need a promotion business case. A promotion business case is a proposal of yourself to get promoted and acquire your targeted position. It presents the details of your performance, value, and what you can offer to be suitable for this particular position.
Event Business Case
An event business case is a document that details the essential features of your event proposal. It presents data such as the benefits, budget, possible circumstances, contingencies, etc. That way, the company will understand your intentions and objectives.
Training Business Case
A training program is crucial to ensure the improvement and development of the employees. However, a business case is required to serve as a proposal to the higher management to get approval and assure that this training program is beneficial. A training business case showcases the activities you will do, the number of employees, and goals.
Marketing Business Case
A marketing business case is a marketing proposal to get the board of directors to approve your marketing plan. It demonstrates data such as the portfolio, processes, format, models, and other critical factors to implement your marketing plan. This document is a way to obtain approval and support from the company heads.
Business Case Uses, Purpose, Importance
Professionals use a business case to propose or suggest a project or an event to particular people. It is to get approval to execute the proposal, which requires a specific budget, employees, activities, etc., to implement the project. A business case has a significant role in the professional industry as it allows employees to initiate and explain their plans to their heads or clients.
A business case is required if you have a proposal. It helps you present your planned project or event and why it is worth taking the risks. That way, you can convey your ideas.
Since proposals have corresponding risks it is important to present your planned counter to these so-called risks. A business case delivers demonstrations such as diagram, visuals, checklists, a roadmap, etc., that enables you to convince your target to give the approval you need. with this method, decision-makers will understand you better.
A business proposal necessitates investments since materials and services have costs. A business case aids you in convincing your client or head to give you the budget you need for the proposed investment. You can explain to the higher management the budget flow.
A business case exists to suggest business plans that will develop and improve the company. Although that is the case, it is critical to prove to the higher-ups that your proposal shows no risks that can put the company in a problematic situation. Instead, you can showcase development plans that will enhance business profitability.
Performance enhancement is a fruit of a business. A business case is to improve the company, which requires employee and system performance improvement as it is a critical factor in reaching the goal of a specific proposal. As a result, you can ensure beneficial processes and results.
What Is in a Business Case? Parts?
The title is one of the most important aspects of a business case. It allows readers to know what the proposal is about and obtain ideas of the intention and purpose of the proposal.
Benefits are the main part you should showcase to a proposal meeting to convince the audience to allow you to proceed with your plans and provide what you need.
The audience will want to know the disadvantages of your plan to scale or weigh these possible circumstances and brainstorm whether your proposal is worth the try. That is why, when showing the possible risks, it is critical to provide a countering plan that will foresee the possible problems and generate contingency plans to prevent them before it happens.
Enabling your audience to know the finances and overall budget of your proposal is essential. Money is a top priority when deciding of giving your proposal approval since it can lead the business to a financial setback.
A roadmap presentation is necessary to show your audience that you have a reliable and smooth flow of your plan. It helps you and the audience have a synchronized understanding that will improve the quality of the discussion and effective communication.
The audience will anticipate the final results of your proposal. It is essential to show them what to expect and your goals and purpose for generating and proposing such plans.
How to Design a Business Case?
1. Choose your business case size.
2. Determine the purpose of your business case.
3. Select the business case template.
4. Insert your company logo or icon.
5. Add infographics or clipart.
6. Save and download the file.
Business Case vs. Business Plan
A business case is a requirement for a business proposal that showcases critical information, such as the financial budget, processes, action plan, etc., that the audience will include in their evaluation if the proposal is practical and beneficial enough to get approval.
A business plan is a document that tackles the future of a company by providing diagrams, graphs, a roadmap, etc., that will showcase the activities you will execute to reach the cause and goal of a particular business plan.
What Is the Difference Between Business Case, Project Management, and Problem Statement?
A business case focuses on convincing the head and board of directors to approve a business, project, or event proposal to reach development.
Project management is an activity that contains the processes and procedures needed to reach productivity and performance goals to achieve project success.
A problem statement is a concise or brief description of a particular problem or hindrance that needs to be solved quickly and effectively.
Business Case Sizes
Business case sizes have various roles and purposes. A company has dimensions and preferences in every type of business document.
Business Case Ideas & Examples
You can use a business case to multiple goals. Business case ideas and examples are required to assist you in choosing the best format and layout for your business proposal.
- Investment Business Case Ideas and Examples
- HR Business Case Ideas and Examples
- School Business Case Ideas and Examples
- University Business Case Ideas and Examples
- Engineering Business Case Ideas and Examples
- Proposal Business Case Ideas and Examples
- Analysis of Business Case Ideas and Examples
- Employee Business Case Ideas and Examples
- Healthcare Business Case Ideas and Examples
- Hiring Business Case Ideas and Examples
Why do we need business cases?
A business case aids you in explaining your proposal to the higher management to evaluate and assess if it is appropriate to give you approval.
What is required in a business case?
A business case should be concise and transparent while ensuring the presence of the problem, opportunity, action plan, budget, and involved teams or departments.
What are functional requirements in a business case?
Functional requirements in a business case focus on the “how” of the business proposal, which involves the assigned employees, processes, procedures, and the overall activity behavior of the project.
What is a business case for the project?
A project business case is a project proposal you seek approval from the higher management that showcases the overall procedure ad activities needed to implement to reach a specific goal.
How do you write a business case?
First, you need to open Microsoft word or apple pages, determine the purpose and intention of your proposal, select a template, create a draft, write down your draft in the template, proofread, save and download your file.
What should be included in a business case?
Your business case should include a transparent purpose, clear roadmap, professional infographics, accurate typings, elaborative details, procedure descriptions, involved employees, programs, objectives, and possible results.
What are the five components of a business case?
In a business case, five components are the problem statement, executive summary, analysis of the situation, solution options, project description, cost-benefit analysis, number of recommendations, and budget plans.
What is an effective business case?
An effective business case includes the lean six sigma because it promotes audience satisfaction by allowing you to deliver and exhibit a fact-based, data-driven philosophy of improvement that prioritizes defect prevention over defect discovery.
Why do we present a business case?
You present a business case because it serves as a support of a business proposal by exhibiting the benefits and advantages of your proposal to the business, leading the higher management to see the worth of your business proposal.
What are the three elements of the business case?
There are three elements of the business case which are strategic context, analysis and recommendation, and management and capacity.
Why is a business case crucial?
The business case enables an initiator to display and explain the critical factors of their business proposal, allowing initiators to convey the purposes and goals they have in mind to contribute to a company’s development.
How does a business case demonstrate a business proposal?
Although known as brief and concise, a business case can have visual presentations and infographics that present graphs, flowcharts, and diagram that allows an initiator to have a visual presentation that will support their discussion and improve transparency.
Is a business case always needed?
A business case has an impressive contribution when you ask for approval to a specific project since it shows the highlights of the proposal; however, the higher management does not request it all the time.
How does a business case help companies?
A company can use a business case in building business relationships and illustrate the benefits both parties can obtain when the partnership proposal is agreed upon and acknowledged.