How To Write the Perfect Business Case

How to write a business case

Why do too many projects fail to deliver their objectives even though project management best practices appear to be used? Project management is naturally complicated, but it can be disastrous if you don’t have sufficient buy-in from the right parties. Writing a strong and complete business case can make all the difference.

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In this how-to guide you will discover,

  • What is a business case?

Why you need a business case

  • Is the project worth doing?

When to use a business case

How to write a business case, the business case template, a business case example, 1. the executive summary, 2. the finance section, 3. the project definition, 4. project organization, managing the business case, making the case, frequently asked questions, what is a business case.

A business case is developed during the early stages of a project and outlines the why, what, how, and who necessary to decide if it is worthwhile continuing a project. One of the first things you need to know when starting a new project are the benefits of the proposed business change and how to communicate those benefits to the business.

While the project proposal focuses on why you want a project, it will only contain an outline of the project:

  • business vision
  • business need
  • expected benefits
  • strategic fit
  • products produced
  • broad estimates of time and cost
  • and impact on the organization

In contrast, the business case, which is first developed during the project initiation phase , contains much more detail. It should be reviewed by the project sponsor and key stakeholders before being accepted, rejected, canceled, deferred, or revised.

Depending on the scale of the business change, the business case may need further development as part of a detailed investigation. Therefore, it should be developed incrementally so that time and resources aren’t unnecessarily wasted on the impractical.

Preparing the business case involves an assessment of:

  • Business problem or opportunity
  • Costs including investment appraisal
  • Technical solutions
  • Impact on operations
  • Organizational capability to deliver the project outcomes

These project issues are an important part of the business case. They express the problems with the current situation and demonstrate the benefits of the new business vision.

The business case brings together the benefits, disadvantages, costs , and risks of the current situation and future vision so that executive management can decide if the project should go ahead.

Many projects start life as a walk in the fog, which is fine in itself, but never see the light of day or stumble along aimlessly for too long because the clarity of scope , time-scale, cost, and benefits are not defined adequately during the first stages of the project.

Is the project worth doing

Why are you starting a project? Chances are you’re doing it because you need to solve a problem.

Usually, the problem is something that gets in the way of achieving your goals . So, it seems a project is about achieving goals and your goals won’t be realized unless you deal with the problem (or opportunity or circumstance.)

If a project is worth doing you need to answer 4 simple questions:

  • What is your goal?
  • What’s stopping you from reaching the goal?
  • How much change is needed to overcome the problem?
  • Are you certain this will solve the problem?

Can you answer these questions quickly? Do you have evidence to support or refute your assumptions?

If not, it may not be worth starting a project.

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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. For instance, the finance function may authorize funds and the IT department provide resources.

The purpose of the business case is communication. Therefore, each section should be written in the parlance of the intended audience.

Moreover, it should only contain enough information to help decision making. When writing a business case keep the following in mind:

  • Be brief and convey only the essentials.
  • Make it interesting, clear, and concise.
  • Eliminate conjecture and minimize jargon.
  • Describe your vision of the future.
  • Demonstrate the value and benefits the project brings to the business.
  • Ensure consistent style and readability.

The project sponsor is responsible for preparing the business case. However, all appropriate team members should contribute to its development. Likewise, subject matter experts from other functions ― finance, HR, IT, service delivery, and so on ― can provide specialist information.

Those writing the business case should have a thorough understanding of the project’s aims and be able to merge the varied and potentially complex plans into one document using the following business case template.

What follows are the four steps to writing a business case template for your project. It includes the following four sections:

  • Executive Summary
  • Project Definition
  • Project Organization

This example of a business case is a simplified version for a small company with few staff. The bigger the project, the bigger the risk, which means the more detail you will need to provide for your investors and stakeholders.

EXECUTIVE SUMMARY

In 2021, retail e-Commerce revenue reached 768 billion US dollars. People are expecting more digital experiences and want to interact and purchase what they need online.

Our current website is just a static page with no interaction available to possible customers. With a website upgrade to incorporate an e-Commerce store, we can entice users to purchase all their training online, in return increasing productivity and efficiency within the office. An estimated $25,000 could be saved a year through this upgrade.

1.1 Financial Appraisal

The expected cost of the new website is $15,000 with a $500 annual maintenance fee.

The training costs of the staff is estimated at $2,000, but the reduction of administration and manual handling of orders is estimated to save $25,000 annually.

1.2 Sensitivity Analysis

The alternatives include:

  • Maintaining the current system, which costs $25,000 annually to maintain and run.
  • Upgrading the website, but not including an e-Commerce store. This would cost $6,000, but the cost of processing the orders is still $25,000.
  • Outsourcing the training purchases to a third-party site, which would cost between $49.99 - $100 per month. In the long run this would cost more and offer less development scope.

2. PROJECT DEFINITION

2.1 Background information

The World is digitizing and we, as a business, must keep up with consumer demand if we are to remain one of the most sought-after training providers.

Since 2020 and the outbreak of Covid-19, many more people have been working remotely and wish to access their training requirements online. We need to update our systems to provide our customers with a purely online system that can provide them with their required training courses in a virtual environment, from purchase through to attendance. This new e-Commerce website is the first step in this process.

2.2 Business Objective

The goal is to provide an online platform where customers can purchase their training requirements.

The solution is to build an e-Commerce website.

This syncs with the business strategy, as it will increase efficiency and profits.

2.3 Benefits and Limitations

The benefits of this project far out-weigh the negatives. They include:

  • Improvement in the quality of customer service and user journey
  • Increased conversion rate through streamlined processes
  • Cost savings through efficiencies
  • Reduced working capital
  • Increase in revenue generated
  • Remain competitive in a digital world.

The limitations of this project remain with staffing, as we do not have a web designer or developer within our company, meaning this will still have to be outsourced if anything arises at a future date.

2.4 Option Identification & Selection

Options for the e-Commerce site include the following:

  • WordPress website with WooCommerce store
  • All-in-one website hosted on e-Commerce platform such as Shopify
  • Use of third-party payment system, such as Stripe, PayPal, or Worldpay
  • Ability to take payments directly through the website and acting as controller and processor of user’s sensitive data
  • Inclusion of a blog
  • Integration of CRM platform.

2.5 Scope, Impact, and interdependencies

The website will be built independently from the current site, so will not affect any current processes or user experience.

2.6 Outline Plan

The website will be built by an external agency and will take around 6 months to complete and push live.

One month before going live the staff will undertake essential training.

2.7 Market Assessment

Since retail e-Commerce has risen to $768 billion US Dollars, it’s time we also made the move to online sales.

2.8 Risk Assessment

The project will be completed out of house.

2.9 Project Approach

The project will be managed out of house.

2.10 Purchasing Strategy

We will enter a contractual agreement with the creative agency. Attached is a copy of the proposed contract.

3. PROJECT ORGANIZATION

3.1 Project Governance

Project will be managed by the agency and in-house by the Centre Executive.

3.2 Progress Reporting

The agency will report to the Centre Executive.

Depending on the length of the business case you may want to include a high-level summary of the project.

The executive summary is the first section of the business case and the last written. It is a short summary of the entire business case. It succinctly conveys vital information about the project and communicates the entire story to the reader.

First impressions are important. Get this right!

The finance section of an effective business case is primarily for those who approve funding. The finance function will be interested in this plus the first half of the project definition.

Financial appraisal.

When you prepare the financial appraisal seek advice on content and presentation from the finance function. In the case of capital developments, consult subject matter experts.

The purpose of a financial appraisal is to:

  • Identify the financial implications for the project
  • Compare project costs against the forecast benefits
  • Ensure the project is affordable
  • Assess value for money
  • Predict cash flow.

Sensitivity analysis.

Sensitivity analysis concerns project risk and looks at alternative futures by measuring the impact on project outcomes or assumptions of changing values in which there is uncertainty.

In effect, sensitivity analysis lets the project accountant experiment with possible scenarios.

This is the largest part of the business case and is for the project sponsor, stakeholders, and project team. It answers most of the why, what, and how questions about your project.

Background information.

The purpose of this section is to give a clear introduction to the business case and project. It should contain a brief overview of the reasons why the project or business change has come about: the problem, opportunity, or change of circumstances.

If necessary, refer to related programs, projects, studies, or business plans.

Business objective.

This part describes why you are doing the project. The business objective answers the following questions:

  • What is needed to overcome the problem?
  • How will the project support the business strategy?

Benefits and limitations.

The benefits and limitations section describes the financial and non-financial benefits in turn. The purpose is to explain why you need a project.

For instance, to:

  • Improve quality
  • Save costs through efficiencies
  • Reduce working capital
  • Generate revenue
  • Remain competitive
  • Improve customer service
  • Align to corporate strategy

The business case should also include any limitations since these present potential risk to the project.

Option identification and selection.

Identify the potential solutions to the problem and describe them in enough detail for the reader to understand.

For instance, if the business case and proposed solution makes use of technology, make sure to explain how the technology is used and define the terms used in a glossary. Since most problems have multiple solutions an option appraisal is often needed. This will explore the potential solutions and recommend the best option.

When writing the initial business case, the option appraisal is likely to contain a long list of options and will cover many possibilities. As the project continues a few options will be rejected. The final business case may contain three to five options ― the short list ― that includes a do nothing or benchmark option.

Scope, impact, and interdependencies.

This section of the business case template describes the work needed to deliver the business objective and identifies those business functions affected by the project.

Moreover, the project scope, impact, and interdependencies section should state the project’s scope and boundaries. It describes what is included and what is excluded plus the key interdependencies with other projects. It is important for the business case to consider the failure of other interrelated projects and show how such dependencies make impact benefits.

Outline plan.

The outline plan provides a summary of the main activities and overall timescale ― project schedule ― for the project.

A project should be divided into stages with the decisions to make preceding each stage. Use this section to answer the following questions:

  • What is required?
  • How is it done?
  • Who does what?
  • When will things happen?

This outline plan lists the major deliverables and includes a brief project description plus accountabilities for each activity.

Market assessment.

It is important that the business case provides its readers with a thorough assessment of the business context ― the market assessment. In other words, make the underlying business interests explicit.

Therefore, the market assessment should show a complete understanding of the marketplace in which your business operates.

A good starting point is the inclusions of a PESTLE ― political, economic, sociological, technological, legal, and environmental ― analysis.

Risk assessment.

The risk assessment summarizes the significant project risks and opportunities and how they are managed. Include any risks that could arise from your project, as well as the organization’s ability to deliver change.

This section answers the following questions:

  • What risks are involved?
  • What are the consequences of a risk happening?
  • What opportunities may emerge?
  • What plans are in place to deal with the risks?
  • Every project should include a risk log

When writing a business case, make sure this is included as it explains how risk and opportunity are managed.

Project approach.

The project approach describes how the project is tackled. That is, the way in which work is done to deliver the project.

For instance, a project with much of the work contracted out is likely to take a different approach to a project that develops an in-house solution.

Purchasing strategy.

This section describes how a project is to be financed and whether a decision to buy, lease, or outsource should be taken by the organization before purchasing.

Moreover, the purchasing strategy should describe the purchasing process used. A formal procurement process may save time and money and reduce project risk.

The last section of the business case template is of most interest to the project manager, project team, and managers responsible for delivering work to the project. This project organization section describes how the project is set up.

Project governance.

This section of the business case template shows the reader how the project is structured and the different levels of decision-making. Usually, a business will already have implemented a project governance framework that will support the project through each stage.

If your organization does not use a structured project management process framework use this section to include:

  • Roles and responsibilities (RACI Chart)
  • Project tolerances
  • Project standards
  • Review points
  • How decisions are made.

Progress reporting.

Finally, the business case should define how project progress is recorded and the project board updated on project performance. Usually, the project manager does this by preparing a concise progress report or highlight report at regular intervals.

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The completed business case provides structure for the project and project organization throughout the project lifecycle . Therefore, it should be used routinely for reference and not consigned to the shelf.

Accordingly, the project sponsor and project board should review and update the business case at key stages to check that the project remains viable and the reasons for doing it are still valid. Ideally, the review should take place before starting a new stage to avoid unnecessary investment in time and money.

In this article we showed you how to write a business case. We covered a lot of ground and may give the impression that the resulting business case is a large and unwieldy document.

This is not the case.

A business case should be concise and to the point. For small projects it may run to a few pages. For larger projects and complex business change endeavors the document will be large.

Therefore, be sure to keep the intended audience in mind when preparing each section and include supporting information in an appendix.

For instance, the option appraisal section may summarize each option with the details contained elsewhere for reference.

To conclude, the purpose of a business case is to outline the business rationale for undertaking a project and to provide a means to continually assess and evaluate project progress.

What is the difference between a business case and a business plan?

The focus of the business case is an action, which is usually the purchase of capital equipment or a service. In comparison, the focus of the business plan is to outline the future of a business proposal, it’s margins, revenue growth over several years and what the business goals and strategies will encompass.

What should be included in a business case?

Writing a business case can seem like a daunting task, which is why we have provided you with a business case template and example to help you make a start.

The four sections include:

What is a business case template?

A business case template provides you with a structure and format to present your case to relevant stakeholders and investors. It’s essential that this document communicate the essence of your project’s goals and benefits, while aligning with the company’s strategies and objectives.

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  • The beginner’s guide to writing an effe ...

The beginner’s guide to writing an effective business case

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Nearly every project needs to be approved—whether that means getting the simple go-ahead from your team or gaining the support of an executive stakeholder. You may be familiar with using a project plan or project charter to propose a new initiative and get the green light for a project. But if your proposed project represents a significant business investment, you may need to build a business case.

If you’ve never written a business case, we’re here to help. With a few resources and a little planning, you can write a business case that will help you get the resources and support you need to manage a successful project.

What is a business case?

A business case is a document that explains the value or benefits your company will gain if you pursue a significant business investment or initiative. This initiative can be anything from the messaging for a new product or feature launch, a proposal to increase spend on a current initiative, or a significant investment with a new agency or contractor—to name a few. A compelling business case will outline the expected benefits of this significant investment decision. Key stakeholders will use the business case you provide to determine whether or not to move forward with an initiative.

If you’ve never created a business case, it may sound similar to other early project planning documentation. Here’s how it stacks up:

The difference between a business case and business plan

A  business case  is a proposal for a new strategy or large initiative. It should outline the business needs and benefits your company will receive from pursuing this opportunity.

A  business plan , on the other hand, is an outline for a totally new business. Typically, you’d draft a business plan to map out your business strategy, your mission and vision statements, and how you’re planning on getting there. There may be a case where you create a business plan for an already-existing business, but you’d only do so if you’re trying to take your business in a significantly new direction.

Business case vs. executive summary

Business case vs. project charter.

If you need to create an elevator pitch for your project but you don’t quite need the full business case treatment, you might need a project charter. Much like a business case, a project charter outlines key details of an initiative. Specifically, a project charter will cover three main elements of your project: project objectives, project scope, and key project stakeholders. Your management team will then use the project charter to approve further project development.

Do you need a business case?

Not every project needs a business case—or even a project charter. Plan to build a business case only for initiatives or investments that will require significant business resources. If you’re working on a smaller initiative, consider creating a project charter to pitch your project idea to relevant stakeholders.

Even if you don’t need to pitch your project to any stakeholders, you should be ready to answer basic questions about your proposed project, like:

What is this project’s purpose?

Why are we working on this project?

How does this project connect to organizational goals and objectives?

Which metrics will we use to measure the success of the project ?

Who is working on this project?

When is this project going to be completed?

5 steps for creating and pitching a business case

Your business case shouldn’t just include key facts and figures—it should also tell a story of why pursuing a particular investment or initiative is a good idea for your business. When in doubt, avoid jargon and be brief—but always focus on communicating the value of the project. If this is your first time creating a business case, don’t worry. Follow these five steps to create a solid one.

1. Gather input

You don’t have to write a business case on your own. Instead, make sure appropriate team members and stakeholders are contributing to the relevant sections. For example, the IT team should be involved in any tooling and timeline decisions, while the finance team should review any budget and risk management sections. If you’re creating a business case to propose a new initiative, product line, or customer persona, make sure you also consult subject matter experts.

2. Plan to write your business case out of order

Some of the first things that appear in your business case—like your executive summary—should actually be drafted last, when you have all of the resources and information to make an informed suggestion. Your executive summary will present all of your findings and make a recommendation for the business based on a variety of factors. By gathering all of those details first—like project purpose, financial information, and project risk—you can ensure your executive summary has all of the relevant information.

3. Build your business case incrementally

A business case describes a significant investment for your company. Similarly, simply writing a business case is a significant investment of your time. Not every initiative is right for your business—so make sure you’re checking your work with stakeholders as you go. You don’t want to sink hours and weeks into this document only for it to be rejected by executive stakeholders right off the bat.

Consider doing a “soft launch” with an outline of your business case to your project sponsor or an executive stakeholder you have a good relationship with to confirm this initiative is something you should pursue. Then, as you build the different sections of your business case, check back in with your key stakeholders to confirm there are no deal-breakers.

4. Refine the document

As you create sections of your business case, you may need to go back and refine other sections. For example, once you’ve finished doing a cost-benefit analysis with your financial team, make sure you update any budget-related project risks.

Before presenting your business case, do a final read through with key stakeholders to look for any sections that can be further refined. At this stage, you’ll also want to write the executive summary that goes at the top of the document. Depending on the length of your business case, your executive summary should be one to two pages long.

5. Present the business case

The final step is to actually present your business case. Start with a quick elevator pitch that answers the what, why, and how of your proposal. Think of this presentation as your chance to explain the current business need, how your proposal addresses the need, and what the business benefits are. Make sure to address any risks or concerns you think your audience would have.

Don’t go through your business case page by page. Instead, share the document with stakeholders before the presentation so they have a chance to read through it ahead of time. Then, after your presentation, share the document again so stakeholders can dig into details.

A business case checklist

Start with the why.

The first section of the business case is your chance to make a compelling argument about the new project. Make sure you draft an argument that appeals to your audience’s interests and needs. Despite being the first section in your business case, this should be the last section you write. In addition to including the  traditional elements of an executive summary , make sure you answer:

What business problem is your project solving?  This is your chance to explain why your project is important and why executive stakeholders should consider pursuing this opportunity.

What is your business objective ?  What happens at the end of a successful project? How will you measure success—and what does a successful project mean for your business?

How does this business case fit into your overall company business strategy plan?  Make sure your proposed business case is connected to important  company goals . The initiative proposed in your business case should move the needle towards your company's  vision statement .

Outline financials and the return on investment

At this point in your business case, you should outline the project finance fundamentals. Don’t expect to create this section on your own—you should draft this in partnership with your company’s finance team. In particular, this section should answer:

How much will this project cost?  Even if the initiative is completely new to your company, do some research to estimate the project costs.

What does each individual component of the project cost?  In addition to estimating the total overall cost, break down the different project costs. For example, you might have project costs for new tools and resources, competitive intelligence resourcing, agency costs, etc.

What is the expected return on investment (ROI)?  You’ve talked about the costs—now talk about how your company will benefit from this initiative. Make sure to explain how you calculated the ROI, too.

How will this project impact cash flow?  Cash flow is the amount of money being transferred into and out of your business. Significant investments are going to cost a lot of money, so they’ll negatively impact cash flow—but you should also expect a high ROI, which will positively impact cash flow.

What is the sensitivity analysis?  Sensitivity analysis is a summary of how uncertain your numbers are. There will be a variety of variables that impact your business case. Make sure to explain what those variables are, and how that could impact your projections.

Preview project details

Your business case is proposing a new initiative. In addition to the financial risks, take some time to preview project details. For example, your business case should include:

Your  project objectives  and  key project deliverables .  What will happen at the end of the project? What are you expecting to create or deliver once the project is over?

Your  project plan .  A project plan is a blueprint of the key elements your team needs to accomplish in order to successfully achieve your project goals.

The  project scope .  What are the boundaries of your project? What exact goals, deliverables, and deadlines will you be working towards?

A list of relevant  project stakeholders .  Who are the important project stakeholders and key decision makers for this work? This can include the members of the project team that would be working on this initiative, executive stakeholders who would sponsor the project, and any external stakeholders who might be involved.

A general  project roadmap  in a Gantt-chart like view.  At this stage in the process, you don’t need to provide a detailed project timeline, but you should outline a general sense of when each project stage will happen in relation to the others. To do this, create a project roadmap in  Gantt-chart like software . Make sure to include any important  project milestones  in your roadmap as well.

Any important project dependencies.  Is there anything that would get in the way of this project getting started? Does this work rely on any other work that’s currently in flight?

Discuss project risks

Once you’ve outlined the financial impact and important project details, make sure you include any potential project risks. If you haven’t already, create a  project risk management plan  for your business case. Project risk management isn’t the process of eliminating risk—instead, it’s about identifying, analyzing, and proactively responding to any potential project risks. Clearly defining each project risk and how that risk might impact your project can best equip you and the project team to manage and avoid those risks.

In the risk section of your business case, include:

A risk analysis of any potential project risks.  What is the risk? How likely is it to happen? What is the priority level of this risk?

What, if any, assumptions you are making.  In project risk management, assumptions are anything you think will be true about the project, without those details being guaranteed facts. Basing project decisions around an assumption can open your project up to risk. Make sure you ratify every project assumption to avoid jeopardizing project success.

Any comparable alternatives in the market.  If you’re writing a business case to pitch a new product or angle in the market, evaluate anything that already exists. Could the alternative impact your financial assessment or project success?

Develop an action plan

In the final section of your business case, outline how you will turn this business case into an actionable project. This section should answer questions like:

How will decisions be made?  Who is responsible for the project? Who is the project sponsor? If you haven’t already, consider creating a  RACI chart  to outline project responsibilities.

How will progress be measured and reported?  Not every project stakeholder needs to be notified of every project change. Outline key parts of your project communication plan , as well as how you’ll communicate  project status updates .

What is the next course of action?  If the management team ratifies this business case, what next steps will you take to put this into action?

Bring your business case to life

You’ve built a solid business case and it’s been ratified—congratulations! The next step is to bring your business case to life. It can be intimidating to  initiate large-scale change , and implementing your business case is no exception.

If you haven’t already, make sure you have a  project management tool  in place to manage and organize your new initiative. With a central source of truth to track who’s doing what by when, share status updates, and keep project stakeholders in the loop, you can turn a great business case into a successful project.

How to Write a Business Case: Examples, Templates, and Checklists

By Joe Weller | April 24, 2019 (updated February 26, 2023)

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This article presents expert tips on how to write a business case. We also provide a checklist to prepare for, write, and present a business case, along with free, easy-to-use Word and PowerPoint business case templates.

Included on this page, you'll find details on how to write a business case , sections to include in your business case , a business case checklist , and business case presentation examples .

What Is a Business Case?

A business case is a formal, structured document; an informal, short document; or a verbal exchange that defines the benefits of an initiative or project.

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 strategies.

Jim Maholic has over 20 years of experience with IT strategy and business case development, including two stints as a CIO, two management positions with the Big Four consulting firms, and leadership positions at several technology companies.

He describes a business case in this way: “A business case is the full story that explains the ROI for a capital project. It begins with a statement of a business problem, then explores how we can solve it or what the value of solving it is. For example, ‘Our revenues aren’t rising as fast as they should,’ or ‘Inventory isn't turning over as fast as it should,’ or ‘Costs are too high.’ That's where the business case starts.

Jim Maholic

“Then, we find out how big this problem is. We talk to people in the company and find out what they think the value of solving the problem is. All this information is packaged into a story that says, ‘Here's the problem. Here's the value of solving the problem. Here's what it costs in hardware, software, or whatever. Here are the benefits. And here’s the whole story.’”

Business Cases Explain Why You Should Invest

A business case explains why stakeholders should invest in a project. The purpose of a business case contrasts with that of a project proposal , which provides a high-level outline of what you want to initiate and its benefits to the company, or that of a project plan , which explains how you execute a project. You should create your business case during the earliest stages of project planning .

A business case can also become a key document for a project manager when planning, creating milestones, and evaluating progress.

Other names and uses for business cases are financial justification, cost-benefit analysis (CBA) , total cost of ownership (TCO) analysis , and return on investment (ROI) analysis . Nonprofits and government entities sometimes refer to business cases as case statements .

What Is Business Case Analysis (BCA)?

A business case analysis (BCA) looks not only at lowest costs, but also at technical value and other nonquantitative factors in what is known as a best-value analysis . The BCA addresses the triple constraints of time, money, and scope, and it can include measures such as performance, reliability, viability, and supportability.

Although business case analysis is used interchangeably with business case , some experts consider the analysis to be part of the business case as a whole.

What Is a Business Case Used For?

A business case helps a company or an organization prepare for new ventures or changes. This document is a crucial building block of project success and underpins the foundations of  senior-level involvement and strong planning. Business cases summarize the benefits of an endeavor, clarifying a project’s business value to help stakeholders make decisions.

A good business case should focus less on the technology, domain knowledge, or specific deliverables and more on the users of a product and the goals of a project. In the same vein, a project manager should focus not only on creating output, but also on delivering value. An initiative can offer many types of value, including contributing to strategic aims, increasing efficiency, and supporting compliance. Insufficient attention to the details of a business case and the accompanying research can lead to poor project results.

Business cases usually describe these items:

  • A business problem or opportunity
  • Possible solutions and their benefits and disadvantages (sometimes known as disbenefits )
  • Risks associated with the main solution
  • Implementation timeline
  • Consequences for implementing a solution and for retaining the status quo
  • Resources required for the initiative or project

Advantages of a Business Case

A business case may seem like just another document destined for the shelf or the shredder, but it can offer real advantages:

  • All stakeholders have similar expectations concerning the value and benefits of an initiative to an organization.
  • You can convert a business case into a project plan with milestones. You increase the chances of a project’s success with planning.
  • A business case becomes a gauge for determining whether an endeavor continues to offer value during execution and after a team produces a deliverable.
  • Project planners can more easily establish objectives and goals.
  • You can more easily discern success.
  • Teams apply the right resources more efficiently.

Who Prepares a Business Case?

You might think that business cases are the purview of financial officers and accountants. In fact, people who have direct knowledge of processes and teams should be responsible for creating these documents.

Some pundits say that the individual who advocates change must enact the change, so anyone in any role could assume the responsibilities for producing a business case. This includes consultants, line managers, or IT managers. In some organizations, the project sponsor or project manager may guide the preparation of the business case and include input from relevant departments and SMEs.

When Do You Need a Business Case?

It’s no longer enough to complete a project and present a deliverable. In an economy that often seems as unstable as it was in 2008, stakeholders want to see that a deliverable creates value and benefits for an organization. This is particularly true for complex projects or those that  require justification for enlisting external resources. Public sector projects frequently need business cases.

What's in a Business Case?

A business case outlines for a decision maker the benefits and business value of a proposed initiative. The term business case frequently refers to a written document that is submitted for review or presented at a meeting, but can also apply to an informal, spoken proposal.

What Should Be in a Business Case?

A well-written business case flows logically from presenting a problem or opportunity through the advantages and disadvantages of solutions to describing the recommended solution. When you require great detail, you can chunk text into sub-sections so that the content is easier to scan, as well as faster and less overwhelming to read. Following are the common sections of a business case in sequential order:

  • Executive summary
  • Problem statement
  • Analysis and financial details
  • Recommendation

Many organizations have pre-established templates for writing business cases. If your organization doesn’t, search online for free, easy-to-use business case templates for construction business cases, one-page business cases, and more. Depending on the narrative needs of the business case, it can contain many possible sections:

  • Preface: A preface may indicate the intended audience and any related documents.
  • Table of Contents: If your document is delivered as a PDF file, consider hyperlinking your table of contents to the appropriate sections.
  • What is the problem?
  • What do you believe is the value of solving the problem?
  • How much are you asking for?
  • When will we start seeing benefits?

     “I’ve had some presentations that don't get beyond that first page,” Maholic muses.

  • Description of the Product or Service: When proposing a new object or concept, detail what the deliverable is and how it works.
  • A Problem Statement or Mission Statement: By describing the problem or the mission of the organization, you can contextualize the proposed initiative.
  • Business Drivers for the Initiative: Indicate what benefits will contribute to the strategic aims of the organization.
  • Finance Section: Explain how much the project will cost and whether it is affordable. Detail the cash flow. Describe the expenses to execute (or not execute) the project in a cost comparison against forecasted benefits. Conduct a sensitivity analysis , a technique for determining how the different values of an independent variable affect a dependent variable.
  • Financial and nonfinancial benefits
  • Quality improvements
  • Cost savings through efficiencies
  • Added revenue
  • Competitiveness
  • Improved customer services
  • Options: What are the possible solutions to the problem? Usually, you narrow this list to 3 to 5 viable choices. Frequently, you include a “do nothing” option and a benchmark option. Some organizations require the do-nothing option; others require it only if the do-nothing option is a legitimate possibility. Quantify the benefits of each potential solution. Also, outline the risks, issues, and interdependencies for each solution.
  • What is required?
  • How is it done?
  • Who does what?
  • When will things happen?
  • Assessments or Analysis: Your analysis should list assumptions and consider cash flow and costs. Describe the risks of the project and the plans to deal with them. Also, discuss how you will leverage opportunities. Describe the context of your undertaking using PESTLE (political, economic, sociological, technological, legal, and environmental) analysis.
  • Project Approach: Detail the organization of the project, including governance and accountability, roles and responsibilities, and the schedule of progress reporting. Describe the purchasing strategy for completing the endeavor. Will you lease equipment? Rent office space? Hire contractors or employees?
  • Recommendation and Next Steps: Note the recommended solution and immediate required action.
  • Appendix: Add supporting documentation here, such as spreadsheets, charts, or drawings.

Considerations for Executive Presentations

The sections that comprise a business case may vary depending on your house style and the type of initiative. Jim Maholic says, “I package my business cases this way: I set up a one-hour meeting, so I have maybe 20 slides, but 10 to 15 slides are plenty. In reality, I might have 100 slides, but I add those in an appendix.” You may have credible supporting information, but you don’t want to bore your audience of decision makers by slogging through each slide.

“They might allocate an hour, but honestly, you're going to get their attention for 10 to 15 minutes, and then they'll start checking email and stuff,” Maholic adds. “You really have to be crisp in how you do this and know where you're going.

“Start with, ‘We have this problem,’ followed by, ‘Here are the people that we talked to who validated that this is a problem. They offered ideas about solving this problem, so we could see this substantial benefit,’” he notes.

“What matters in an executive meeting is that I answer the main questions: What is the problem? What is the cost of not solving it? What are the benefits of solving it? And when do we see the benefits? You may address additional questions later in the meeting or after the meeting, on an individual, offline basis,” Maholic says.

Business Case Templates

Using templates, you can more easily create business cases because you can focus on your research and fill in the blanks. The following free, downloadable templates are customizable for your organization’s needs.

Business Case Presentation Template

Business Case Presentation Template

You can lengthen this short PowerPoint presentation template to accommodate more detail. The business case presentation template includes spaces for describing the following elements: the project name, the executive summary, the project description, the financials, the recommended solution, the assumptions and dependencies, the options, and the benefits.

‌ Download Business Case Presentation Template - PowerPoint

Simple Business Case Template

Simple Business Case Template

A simple business case template serves a small project or a small organization. It can cover extensive details if necessary. It includes spaces for describing the following elements of the case: the title, the executive summary, the business objective, the target users, the financials and costs, the assumptions and dependencies, the implementation strategy, the required resources, and the project governance and reporting.

Download Simple Business Case Template

Word | PDF  | Smartsheet

Healthcare Business Case Template

Healthcare Business Case Template

A healthcare business case template helps you explain the current setup and how the proposed solution can create improvements. It provides space for a one-page executive summary, context for the problem or opportunity, a description of the current situation, an explanation of the proposed changes, and details of how the changes can affect your organization and any other entities.

Download Healthcare Business Case Template

Word | Google Docs

New Product Business Case Template

New Product Business Case Template

A new product business case template explores the business landscape for a new product or service. In addition to the meta information, such as the title, the author, and the executive summary, the template includes space to describe the current mission statement, the proposed product or service, the marketing strategy, an analysis of competitors, SWOT analysis , an overview of the implementation plan, and financial details.

Download New Product Business Case Template

Preparing to Write the Business Case

You can expedite your business process by understanding business case structure and using a template. In addition, having the correct perspective and following best practices can contribute to your success.

Why Are You Doing the Project?

Before you start researching and writing, understand why you want to initiate a project. The goal of a project is to solve problems. What is a problem? A problem prevents your organization from achieving its full potential. To begin, determine what problem the project is trying to solve.

Projects have deliverables, whether tangible or intangible. Think of an outcome as the result created by the deliverables. Benefits represent quantifiable improvements derived from an outcome. When a customer or team member can leverage these benefits, they become advantages.

Do Your Business Case Research

To start, review the mission statement(s) for the organization or the project. Identify the sources of data for your business case. One way to encourage the acceptance of your proposal is to discuss your rough estimates of the costs and resources with a project sponsor or customer before you embark on the business case. This helps you and the sponsor understand each other’s expectations and lessens the chance of sticker shock during the executive presentation. Then interview the people who conduct the day-to-day work and get their perspective on problems and possible solutions.

Do the Business Case Math

You must consider whether the returns justify the request. “If we're asking for $3 million, we've got to show that the project benefits far exceed that amount,” asserts Maholic. “With returns of $10, $15, or $20 million, you're going to get their attention. If you say the benefits are $300 million, they're going to think you've fallen off the truck somewhere, because that's not realistic. On the other hand, if you show benefits of $3.5 million for a cost of $3 million, that's probably not going to beat the projected return of any other project that comes across their desk.”

Consider Who the Business Case Is For

Whether the business case comes in document form or as a presentation, the project sponsor and key stakeholders will study it. Consider the key audience for each section of your document and write with that audience in mind.

The most convincing arguments for projects are those that your team can initiate and wrap up within six months, as well as produce considerable quantifiable results. Especially when big money is on the table, your proposal will compete with others from different departments. “No company has all the money it wants to invest in everything — it has to prioritize. The business case helps evaluate what the return will be for each of the projects that comes across the board's desk for approval,” explains Maholic.

Furthermore, a business case presents estimates. A business case should be built on sound research, but no one has a lock on certitude. “I think first-time business case writers in particular get caught up in building some great story. But seasoned executives get requests all the time, and they're not buffaloed by clever-sounding words or fancy spreadsheets,” Maholic cautions.

“Your ideas have to be rooted in something sensible, not just, ‘I bet we can raise revenues by 15 percent,’” he explains. Grand plans may be possible, but the key, according to Maholic, is to help decision makers understand how it is possible.

How Do You Write a Business Case?

When you have the main questions in mind and a sense of the required sections and format, you can begin to write. Consider limiting the number of authors to ensure an effective writing effort that’s consistent in style and voice. Then follow these tips:

  • Concisely cover the core content with enough detail, so stakeholders can make an informed decision.
  • Compare options, so decision makers understand the landscape.
  • Be clear, concise, and captivating.
  • Avoid jargon as much as possible.
  • Demonstrate the value of the project to the business by creating a credible and accurate argument.
  • Clearly describe the landscape for the initiative, including its dependencies. Enumerating these dependencies is crucial because contextual changes can alter the project parameters or eliminate the need for the project altogether.
  • Focus on the business and the business value rather than the knowledge domain covered by the intended project deliverable.

How Do You Know You Have Enough Detail?

You determine the length of your business cases according to the scope and complexity of your proposed endeavour. A complex project means a long business case; a small, short project means a short business case.

However, Maholic cautions against adding too much detail — conciseness can be a challenge. “You may take 4 to 6 weeks to create a business. You might talk to 50 or 100 people. There's this gnawing urge in some people to show everything they've collected in the executive presentation. Look how hard we worked. Look how smart I am . That's just awful.

“You have enough data and slides when you can answer those 4 or 5 basic questions. There may be 100 other slides, but those are supporting detail,” he says.

Common Mistakes in Writing Business Cases

You can strengthen your business case by avoiding common mistakes:

  • Forget What Your White Papers Say: Maholic finds that when salespeople create cases for customers, they frequently rely on the benefits outlined in a product’s white papers. He notes, “Saying your product cuts costs by Y percent is a great place to start, but it has to be balanced by what's in front of you regarding a particular customer.” He continues, “As a salesperson, you may say that your product can increase revenue by 5 percent. That may be true for past customers, but this particular customer may have three straight years of declining revenues. It's silly to say that a product is going to both arrest a decline and bump up revenue by 5 percent. You have to think things through. That’s the analysis part. You can't just mouth off.”
  • Spreadsheets Are not the Main Show: "Too often, I think, people hear business case , and they jump right to building a spreadsheet,” Maholic says. “They're eager to build the mother of all spreadsheets and show how smart they are by demonstrating the mother of all spreadsheets. While certainly spreadsheets are necessary to show the math, the spreadsheet is only a small part of the solution. Spreadsheets don't really articulate the problem or indicate who you talked to or what you analyzed to get to that solution,” he adds.
  • Arguments Do not Equal More Money: Sometimes, people believe that a strong case justifies a more generous price tag. Not so, says Maholic: “As a decision maker, having a better business case doesn't mean I'm going to roll over and say, ‘Sure, you can charge me an extra million dollars.’ A good business case means the project has the value to go forward. Now, we're going to start negotiating and I'm still going to work to get the best price I can. People who've done business cases before know that. But people who are new to them don't completely understand that.”
  • Remember That It’s About Value, Not About Toys: For startups, the coolness factor of the technology or product may carry some weight, but for most organizations, a business case must focus on the business value without getting lost in the domain knowledge and technical details. Maholic explains: “Nobody at the executive level cares what the throughput ratio is of this process or that stack. What they want to know is, ‘Do I get revenue more quickly? Do I cut costs more deeply? Tell me what the value of doing X is, and then you can go off and buy whatever toys you want to in order to do X.’”

Steps to Produce a Business Case

Your organization may have a tribal understanding of the best process for creating a business case. Some employees may advocate for following the Ds , which refer to the steps to produce a business case. The Ds can include as many as six steps, but generally focus on these four:

  • Discover your problem or opportunity.
  • Design your solutions and alternatives.
  • Develop the details that describe the pros and cons of each potential solution.
  • Deploy the business case.

Some advocates add the Define step to the beginning of the process and the Deliver step to the end. For best results, create your business case in the following order:

  • Determine your problem or opportunity.
  • Research the context for your proposal as appropriate: When developing a new product, your research may focus on the market; when acquiring new training or software, you may review current internal processes; and when making a new purchase, you may interview dozens of team members who use current tools and procedures.
  • Compare alternative approaches and recommend the most appropriate strategy.
  • Gather supporting data and evidence for the recommended approach.
  • Write the business case.
  • Write the executive summary.
  • Edit your business case draft.
  • Present your business case to either the final authority or the personnel who will be instrumental in implementing the case plan.

‌ Download Business Case Process Checklist  

The Business Case in Project Development

Contrary to what you might imagine, the business case can be a living document. Starting with the review process, stakeholders may reject, cancel, postpone, accept, or adjust the business case. To some extent, the business case becomes the guidebook for your initiative. Stakeholders and the project manager should refer to the business case throughout the lifecycle of the project to ensure that efforts (and intentions) remain on track.

What Are the Features of a Project Business Case?

A well-considered business case offers the following characteristics: an easy-to-understand description of the business value of the initiative and the immediate benefits of the project, including details of the positive impact on organizational strategy.

How Do You Analyze a Business Case?

In university-level business schools, business case studies (or case studies) function as teaching tools to help students use their analytic skills. Case studies describe a company and how it employs a solution. Following is the suggested approach for students analyzing a case:

  • Review the case in detail. Identify the key issues.
  • Determine 2 to 5 essential problems.
  • Look for solutions to those problems.
  • Describe your recommended solution.

What Is a Full Business Case?

A business case is a structured, detailed document that presents the justification for the commitment of financial and other resources to an endeavor. Business cases help you gain the support of management and other stakeholders, as well as approval for projects and programs.

What Is a Business Case in Project Management?

An approved business case can have a long life. Although the project sponsor ultimately owns the business case, it is the project manager who uses the business case as the guidebook for expectations and dependencies. In addition, the business case becomes an important document in an organization’s project portfolio management process. During this process, a company balances its resources with its strategic objectives to determine the livelihood of all the projects it undertakes.

History and Origins of Business Cases

The formal business case has its roots in 19th-century Europe, particularly with the work of French-Italian engineer-economist Jules Dupuit. His contribution included statistical tools to identify, measure, and value the benefits beyond merely determining the lowest bidder. Specifically, Dupuit is credited with inventing what he called the benefit-cost analysis . Today, professionals recognize the value of business cases outside of public works and government. Both nonprofit and for-profit organizations regularly use business cases.

Resources and Examples for Creating Your Business Case

If you’re new to business cases, you don’t have to start empty-handed. We offer resources to help you begin writing. Please see the following examples and templates:

  • Here’s an example of a business case in a classic document format . This particular business case argues against a capital investment.
  • This example presents three business cases for one higher education department . The  presentation comes in a slide format.
  • In this article, Jim Maholic offers a template for creating your business case .

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What is a business case and how to write one (with template)

business case plan example

In this guide, we’ll define what a business case is, help you determine when you need one (and when you don’t), and walk you through a four-step process for creating a business case.

What Is A Business Case And How To Write One (With Template)

We’ll also outline what you should include in a business case and provide a free template you can use when writing a business case to secure stakeholder support for your next big project.

What is a business case?

Every project needs the support and approval of key stakeholders before it can launch. Many project and product leaders use a project plan or charter to communicate pertinent details to those involved.

Similarly, for large initiatives that require significant resources, potential investors are presented a business case outlining the costs, benefits, business need, and risks involved.

A business case is a document that defines the value it will deliver if executed and benefits the company over the costs involved. With a thorough understanding of the components to be included and necessary resources, it is possible to create a compelling business plan.

Why do you need a business case?

If a project is green-lit without a business case, it can lead to serious issues down the road. A project without clearly articulated expectations and goals can go on endlessly and aimlessly. This leads to wasted resources, money, and time with no outcome in the end.

A business case enables you to:

Align with strategy

Gain stakeholder support, prioritize projects, track outcomes.

A business case helps to showcase how a project is aligned with the overall strategy and goals of the organization. It clearly defines the problem or opportunity that the project is intended to address.

A business case also enables you to determine expected benefits and outcomes before you start a project or initiatives, thus projecting how the project contribute to achieving the organization’s goals.

A business case is a useful tool to provide a clear rationale for pursuing the project. A thorough business case can help key stakeholders decide whether to invest in the project by evaluating the feasibility, costs, risks and potential returns. A business case presentation gives stakeholders an opportunity to ask questions and address concerns.

A business case defines the value that the project is expected to deliver. Based on the value delivered by each project, business and product leaders can prioritize projects for budget cuts or further investments. Proper prioritization helps the organization achieve the goals aligned with the business strategy.

A business case provides a roadmap for the project, including the goals, milestones, and key deliverables. Once the project starts, a roadmap helps you keep track of your progress toward project goals, including what has already been achieved and what will be delivered at the end. Providing a timely update on the project to the key stakeholders is critical for setting expectations.

When you don’t need a business case

A business case is certainly helpful for large initiatives requiring support from key stakeholders, but there are some situations where creating a business case might be a waste of time.

business case plan example

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business case plan example

For instance, small or low-risk projects that would not impact the organization in any negative way do not require a business case because it would not make sense to spend that much effort on a low-scale project.

A business case might also be considered superfluous for a project that is already ongoing. It can be tempting to create a business case post-launch for the sole purpose of documenting decisions made and milestones achieved. However, it’s typically not worth the time investment because such a business case rarely adds any value or insights.

Before you take on the task of creating a business case, it’s important to carefully consider the need and to ensure that doing so would produce valuable insights to the decision-making process. It is in the best interest of everyone to forgo the business case creation process in situations where it does not provide any additional value and to focus instead on other activities that directly impact the project.

Business case vs. business plan

A business plan is not the same thing as a business case.

A business case outlines a proposed project and its potential benefits to convince key stakeholders to invest. It typically includes analysis of costs, value to be delivered, and associated risks, along with ROI.

A business plan, on the other hand, outlines the overall strategy and goals for an entire organization. It defines the what, why, and who for the business, covering the products and services offered, target segment, marketing and sales strategy, and operational and financial projections over a period of time. A business plan is designed to help potential outside investors make informed decisions about whether the business is worth investing in.

The table below breaks down the differences between a business plan and a business case:

How to write a business case

Before we dive into steps to create a business case, let’s review what we’ve learned so far:

  • A business case is a document created during the initiation of the project but is referred throughout the project lifecycle
  • A strong business case helps in building confidence and gaining support of key stakeholders
  • A business case also helps you track a project’s progress over time
  • A weak business case that is not aligned with strategy can lead to project failure

To write a business case, follow this four-step process:

  • Identify the business need
  • Explore all possible solutions
  • Propose the best approach
  • Outline the implementation process

1. Identify the business need

Projects are initiated to solve a business need and achieve a value or a benefit aligned to the goals of the organization.

The first step to create a business case is to identify the business problem and define it clearly. Market research and any available data to justify the business need is helpful to include in the business case.

2. Explore all possible solutions

Once the business problem has been identified, the next step is to explore all the possible solutions for that problem. You can do this systematically by listing out all the possible solutions along with other parameters, such as:

  • The benefits of each approach
  • Feasibility
  • Time period
  • Assumptions

A detailed analysis of each option predicting the cash flows, ROI, and value delivered would help key stakeholders understand each solution and cross-question the assumptions, feasibility, and other parameters.

3. Propose the best approach

Set a criteria to showcase how you evaluate each solution and then come up with the best out of the list.

To set the criteria, identify attributes that closely align to the organization’s strategy. For example, if the organization’s goal is to increase revenue in the next year, then an important criterion might be the solution with maximum revenue projection.

List the top three-to-five attributes to evaluate alternative solutions against and rank each solution 1–5. Once you rank all of them, total the ranks for all the attributes to indicate a clear winner.

Document this process and present it to stakeholders to ensure they are on the same page with the selection process of the best solution.

4. Outline the implementation process

Once the best solution has been proposed, the next step is to think about how it will be implemented.

When it comes to planning the implementation process, you need to define:

  • Resources needed
  • Timeline from initiation till the end
  • Risks and how to mitigate
  • Milestones and when they will be achieved
  • Total cost involved and how much will be used by when

These four steps, when captured in detail, can help you win the support of key stakeholders and kick off your project with a solid foundation and a clear objective.

What is included in a business case?

Now that we’ve walked through the steps of how to create a business case, let us also take a look at what to include in the business case document to support the four steps outlined above.

Here’s what to include in a business case:

  • Executive summary — A quick overview of the project and the topics being covered in the business case
  • Business problem — A description of the business problem and why it is important to solve it
  • Possible solutions — A list of possible solutions and how the best possible solution is identified
  • Project definition — Define the business objectives to be achieved along with general information about the project
  • Project plan — Create the project plan with key elements your team needs to accomplish to successfully achieve your project goals
  • Project scope — Clearly define what would be covered as a part of the project and what is out of scope to avoid any confusion
  • Project budget — Estimated cost involved to complete the project needs to be captured with a detailed breakdown
  • Project roadmap — Projection of the estimated timeline for each stage of the project to be done. Be sure to include any important project milestones
  • Project financials — Financial metrics depicting the cash flow, such as NPV, IRR, ROI, and payback period to help stakeholders understand the financial value the project can bring in over a period of time
  • Risk assessment — Capture the risks involved and the steps planned to mitigate the risks
  • Project stakeholders — A list of key stakeholders involved can help anyone looking at the document to reach out to them when needed. The list can include the project team, sponsoring executives, and any external stakeholders who might be involved

Business case template

To help you get started writing a business case for your next big project or initiative, we created a business case template that you can download and customize for free.

Business Case Template

You can access this simple business case template by clicking here (be sure to select File > Make a copy from the main menu bar before editing the template).

Preparing the business case is only half the journey of initiating a project. The next step is to present the business plan to key stakeholders , answer their queries, and compel them to support the project.

Lastly, be sure to follow up with the attendees to make sure all the stakeholders are on the same page and aligned to support the project.

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How to Write a Business Case (With Example & Template)

May 19, 2022 - 10 min read

Kat Boogaard

A business plan is a straightforward document. In it, you’ll include market research, your overall goals for the business , and your strategies for achieving those goals. 

But what is a business case and why do you need one if a business plan outlines everything else?

A business case takes a closer look at a specific problem and how you can solve it. Think of a business case as the reason you create a project you’re going to manage in the first place. 

The article provides a step-by-step guide on how to write a successful business case, including a checklist for identifying problems, researching solutions, and presenting to stakeholders. As a bonus, we’ll show you how to use Wrike to manage your product business cases with a requirements management template or implement them with a project scheduling template .

What is a business case?

A business case is a project you’ll assemble for identifying, addressing, and solving a specific business problem. 

The key to a business case is the change it creates in your business. Developing a business case starts with identifying a problem that needs a permanent solution. Without that lasting change, a business case is only an observation about what’s going wrong. A complete business case addresses how a company can alter its strategy to fix that problem.

Front-to-back, a business case is a complete story. It has a beginning, a middle, and an end. It typically looks like this:

  • Beginning: Someone identifies a problem within the business and presents the business case to the key decision-makers.
  • Middle: With the project go-ahead, the company launches an internal team to address the business case and deliver results.
  • End: The team delivers a presentation on the changes made and their long-term effects.

In short, a business case is the story of a problem that needs solving.

business case plan example

Examples of business cases

The problem for many companies is that they can turn a blind eye to challenges that are right in front of their faces. This is even the case when the company has a compelling product to sell.

Consider the example of Febreze . In the mid-1990s, a researcher at Procter & Gamble was working with hydroxypropyl beta-cyclodextrin. His wife noticed that his clothes no longer smelled like cigarettes, which was a frequent complaint.

P&G had something of a miracle product on its hands. However, their approach was wrong. They initially marketed Febreze as a way to eliminate embarrassing smells. Predictably, the product flopped. 

But P&G stuck at it. They had a potential business case on their hands: a highly marketable product proved difficult to market. What was going wrong? Working on the business case from beginning to end provided the answer.

After some focus group testing, P&G found out that few consumers recognized the nasty odors they were used to. Instead, they learned to use a different business case for Febreze: it was a cleaning product now, a way to make the house smell nice when the floors are vacuumed and the counters are wiped clean. They gave it its own pleasant smell and fashioned it into a cleaning product. And because it worked so well, so did the campaign. 

That’s an example of a business case overall. But let’s get specific: developing a business case is easier when you have a template to look at. Let’s build an example using a made-up company, ABC Widgets, and a hypothetical business case. Let’s call our business case example “Operation Super Widgets”:

Business Case: ABC Widgets

Section 1: summary.

Briefly describe the problem and the opportunities.  

ABC Widgets’ latest widget, the Super Widget, is suffering from supply issues, requiring higher shipping costs to procure the necessary resources, and eating into profits. We need to switch to a new supplier to restore the viability of the Super Widget.

Section 2: Project Scope

This section should include the following:

  • Financial appraisal of the situation. Super Widgets are now 20% more expensive to produce than in the year prior, resulting in -1% profits with each Super Widget sold.
  • Business objectives. To get revenues back up, we need to restore profit margins on Cost Per Unit Sold for every Super Widget back to 2020 levels. Benefits/limitations. Restoring Cost Per Unit Sold will restore 5% of sagging revenues. However, we are limited to three choices for new Super Widget suppliers.
  • Scope and impact. We will need to involve supply chain managers and Super Widget project management teams, which may temporarily reduce the number of widgets we’re able to produce, potentially resulting in $25,000 in lost revenue.
  • Plan . Project Management Teams A and B will take the next two weeks to get quotes from suppliers and select one while integrating an immediate plan to bring in new Super Widget parts for manufacturing within four weeks.
  • Organization. Team Member Sarah will take the lead on Operation Super Widget Profit. Both teams will report to Sarah.

This is a bare-bones example of what a business case might look like, but it does hit on the key points: what’s the problem, how can you fix it, what’s the plan to fix it, and what will happen if you succeed?

How do you write and develop a business case?

When writing your own business case, the above example is a good guide to follow as you get started with the basics. 

But, once you’re more familiar with the nuts and bolts, it’s also worth being prepared for some potential roadblocks you could face along the way. 

Challenges of writing a good business case

Why don’t more companies create a business case? It might come down to a lack of good communication. Many people don’t even know how to write a business case, let alone present one.

“The idea may be great, but if it’s not communicated well, it won’t get any traction,” said Nancy Duarte , communication and author who wrote The HBR Guide to Persuasive Presentations.

The key challenge, notes Duarte, is taking abstract business concepts (like lagging numbers) and turning them into an immediately recognizable problem. After all, if a company already had perfect awareness that it was making a mistake, it likely would find a way to stop the error in its tracks. 

A business case is challenging because it usually means you’ll have to persuade someone that change is needed. And change can be difficult. In a thriving business, it’s especially problematic because it’s easy to point to the bottom line and say that whatever the company is doing is already working.

How do you present a business case?

The tips and examples above give you some nice remedies for creating a business case without the typical problems. But you’ll still want to present a business case with the straightforward proposals and numbers you’d associate with any new project. 

Essentially, it all comes down to how well your business case can persuade the decision-makers. That’s why you shouldn’t just build a case off of raw numbers. The bottom line might be a compelling argument, but it’s not always what “clicks.” 

If you’re presenting a business case, you’re a salesperson. And not every sale is a matter of precise logic. It’s also about emotion—the story of why something’s gone wrong and what needs doing if you’re going to overcome it. 

The art of a good business case is the art of persuasion. Keep these specific points in mind as you craft one of your own:

  • Point to an example of a bad business case and liken it to the present case . No one likes the idea of watching themselves walk into a mistake. Presenting an example of a business that made the same mistake your company is making and then translating it into the present moment is a compelling way to craft a business case that makes ears perk up.
  • Build a narrative. Nancy Duarte pointed out that in one business case, a client convinced a CEO to follow through with a project by using simple illustrations. It’s not that the idea of adding illustrations to the business case was so great. It’s that the illustrations were able to tell a compelling story about why the case needed to go through.
  • Distill the idea into an elevator pitch. Try this exercise: get your business case down to one sentence. If you can’t explain it any more simply than that, your business case might not be as memorable as it needs to be to sway decision-makers.
  • Use analogies to drive the point home. Let’s say you discovered a problem in a growing business. Overall, revenues are good — but you’ve noticed an associated cost that has the potential to explode in the future and tank the business. But it’s not compelling to use dollars and cents when the business is doing so well. Instead, consider introducing the business case with a simple analogy: “Without repair, every leaky boat eventually sinks.” You now have their attention. Use the numbers to drive the point home, but not to make the point.

If you’re presenting a business case to decision-makers, remember that it’s not only the logic of your argument that will convince people — it’s how persuasive you can be.

Business case checklist

Before you can check “learn how to write a business case” off your list, you have to know the essentials. Make sure you include the following elements in your business case checklist (and, of course, your business case itself):

  • Reasons. This should be the most compelling part of your business case. You can tell a story here. And the most compelling stories start with a loss or a complication of some sort. What is the threat to the business that needs remedy? What are the reasons for moving forward?
  • Potential courses of action. It’s not a complete story until we know the next chapter. A business case isn’t just about the problem — it’s about rectifying a problem through the solution. Recommend a few specific courses of action to help spur discussion about what to do next.
  • Risks and benefits. Not every solution is going to be perfectly clean. There are going to be solutions with downsides. There are going to be costs along with the benefits. Make sure to include each of these to give a clear and complete picture. This is the time to manage expectations — but also the time to inspire action.
  • Cost. What’s it going to cost to complete the project? The people making the decisions need to know the bottom line figure to assess which business cases to prioritize.
  • Timeline. A good project isn’t only measured in dollars but in days, weeks, and months. What is the expected timeline for the business case? How quickly can the problem meet its solution? 

With every business case, specificity is key. A vague timeline won’t help — a timeline with specific weekly milestones looks more achievable. To make your business case more compelling, always look for the specific details that tie your story together.

business case plan example

Business case template

A business case template is a document that outlines the key elements of a business case in a structured format. By using a standardized template, companies can ensure that all relevant information is captured and shared in a clear and consistent manner.

Depending on the size of your business and the scope of your project, your business case template can be as detailed or as simple as you like. For a smaller project, you can use a one-pager to get started, detailing the main points of your project, which include:

  • Executive summary: An overview of your project, its goals, and the benefits of completing it for your business
  • Team and stakeholders: A list of the relevant people involved in your project, and their contact information
  • SWOT analysis : An analysis of how your strengths, weaknesses, opportunities, and threats weigh up against your competitors
  • Risk analysis: An overview of the kind of risks that are involved with your project and how you may avoid them
  • Budget and financial plan: Details of your budget and where you may secure financing for your project
  • Project plan: A schedule of how you plan to implement your project and what tasks are involved

Let's see what that might look like.

How to write a business case with Wrike

Wrike’s project management software can step in and turn a business case from the seedling of an idea to a full-fledged initiative. 

The requirements management pre-built template can help you document and track project requirements in a structured manner. The template includes sections for capturing stakeholder requirements and business cases, as well as any constraints that may affect the project’s success. By using this template, you can ensure that all necessary requirements are identified and that potential issues are addressed early in the project planning process.

If you want to move from the business case description to the actual implementation faster, consider using the project scheduling template . This template can help you create a detailed project timeline with milestones, identify task dependencies, and assign resources. By utilizing this template, you can ensure that the project is realistically achievable and meets all business needs, giving stakeholders confidence in the project’s success.

Kat Boogaard

Kat Boogaard

Kat is a Midwest-based contributing writer. She covers topics related to careers, self-development, and the freelance life. She is also a columnist for Inc., writes for The Muse, is Career Editor for The Everygirl, and a contributor all over the web.

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  • 14 min read

How to Write a Business Case (+ Template & Examples)

How to Write a Business Case Template Examples

What is a Business Case?

Purpose of business cases, components of a business case, problem statement, objectives and requirements, alternatives analysis, recommendations and implementation plan, financial analysis and projections, key performance indicators (kpis), risk assessment, stakeholder analysis, how to write a business case, start with a clear understanding of the problem, identify the objectives and requirements, conduct a thorough alternatives analysis, develop a realistic implementation plan, consider the financial impact, assess and manage risks, engage stakeholders, business case examples, business case templates and samples, presenting a business case, be clear and concise, highlight the benefits, address concerns and objections, use visual aids, practice and be prepared, business case analysis, business case analysis examples, business case project management, business case best practices, key terminology and concepts.

A business case is a document that outlines a proposed project or initiative, detailing the problem it aims to solve, its benefits and costs, and an implementation plan. A well-written business case can help secure support and funding for a project and ensure its success by providing a clear roadmap.

In this guide, we will explore a business case's key concepts and components, provide tips for writing and presenting a business case, and offer examples and templates to help you create your own.

A business case is a written document that outlines a proposed project, initiative, or solution. It provides a clear and concise description of the problem the project aims to solve, the benefits of the solution and a plan for implementation.

The purpose of a business case is to gain support and funding for a project and to provide a clear roadmap for implementation. It is a tool used to make informed decisions about projects and initiatives, and to ensure their success.

A well-written business case should include the following components:

A clear description of the problem the project aims to solve. The problem statement should be specific and concise and provide enough context for stakeholders to understand the need for the project.

The goals and specific requirements of the project. This section should clearly outline what the project hopes to achieve and what specific outcomes are expected.

An examination of different options for solving the problem and the pros and cons of each. This section should provide an overview of the different approaches that could be taken and the advantages and disadvantages of each.

A recommended solution and plan for implementation. This section should provide a clear and concise explanation of the recommended approach, including a timeline and specific steps for implementation.

An estimate of the costs and benefits of the project, including revenue and expenses, and a projection of the return on investment. This section should provide a detailed analysis of the financial impact of the project and should include a clear explanation of the methodology used to estimate costs and benefits.

Metrics used to measure the success of the project. This section should outline specific, measurable KPIs that can be used to track progress and determine if the project is meeting its objectives.

An evaluation of potential risks and a plan for managing them. This section should identify potential risks associated with the project, assess their likelihood and impact, and outline a plan for mitigating or avoiding those risks.

An assessment of the interests and influence of stakeholders and their impact on the project. This section should identify key stakeholders and assess their level of influence, interests and objectives, and how they may impact the project.

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Writing a business case can seem overwhelming, but it can be a manageable task with a clear understanding of the components and a structured approach. Here are some tips for writing a successful business case:

Begin by clearly defining the problem the project aims to solve. This will help you focus your efforts and ensure that the business case is relevant and compelling.

Outline the specific objectives and requirements of the project. This will help you focus your efforts and ensure that the solution meets the needs of stakeholders.

Examine different options for solving the problem, and assess the pros and cons of each. This will help you determine the best approach and make a convincing argument for your recommendation.

Create a detailed plan for implementation that includes a timeline, specific steps, and a budget. This will help ensure that the project stays on track and is completed successfully.

Conduct a thorough financial analysis and estimate the costs and benefits of the project. This will help you make a convincing argument for your recommendation and secure support from stakeholders.

Identify potential risks associated with the project and develop a plan for mitigating or avoiding those risks. This will help you anticipate and manage potential challenges and ensure the success of the project.

Engage stakeholders throughout the process, seeking their input and feedback, and ensuring their interests and objectives are considered. This will help you build support for the project and ensure its success.

A business case example can provide a better understanding of how to write a business case and what it should contain. The following are several examples of business cases across different industries and situations:

  • Technology Upgrade Business Case: In this case, a company is looking to upgrade its technology infrastructure. The business case should include the current technology limitations, the benefits of the new technology, the costs associated with the upgrade, and a timeline for implementation.
  • New Product Launch Business Case: A company is looking to launch a new product, and the business case should include market research, a product description, target audience, costs, potential sales, and a plan for marketing and distribution.
  • Merger and Acquisition Business Case: In this case, a company is proposing to merge with or acquire another company. The business case should include financial data for both companies, the reasons for the merger/acquisition, and a plan for integrating the two companies.
  • Cost-saving Initiative Business Case: A company is proposing a cost-saving initiative, such as reducing the number of employees, to improve its bottom line. The business case should include the reasons for the initiative, a cost-benefit analysis, and a plan for implementation and monitoring.
  • Green Initiative Business Case: A company is proposing a green initiative to improve its environmental impact, such as reducing carbon emissions. The business case should include the reasons for the initiative, the benefits to the environment and the company, a cost-benefit analysis, and a plan for implementation and monitoring.

These examples provide a general understanding of the types of information that should be included in a business case. The actual content of the business case will depend on the specific situation and the organization's goals.

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A business case template can be a helpful tool for creating your own business case. The template should include the key components of a business case, including the problem statement, objectives and requirements, alternatives analysis, recommendations and implementation plan, financial analysis and projections, KPIs, risk assessment, and stakeholder analysis.

When using a business case template, it's important to customize it to your specific situation and ensure that all relevant information is included. The template should be used as a guide, not a rigid structure, and you should modify it as needed to best represent your project.

We understand the importance of having a well-structured business case to support informed decision-making, which is why we are offering a free business case template users to download and get started with.

  • Business Case Excel template
  • Business Case Google Sheets template

This template is designed to help you create a comprehensive and effective business case that covers all the key components, including an executive summary, problem statement, goals and objectives, alternatives, financial analysis, risk assessment, and conclusion. All you have to do is download the template, fill in the details, and you'll have a professional-looking business case in no time.

With this template, you can focus on the content of your business case and leave the formatting and structure to us.

Presenting a business case is an important step in securing support and approval for your project. Here are some tips for presenting a successful business case:

Be clear and concise in your presentation, focusing on the key information that stakeholders need to know. Avoid using technical jargon or industry-specific terminology; instead, use language that is easy to understand and accessible to all stakeholders.

Highlight the benefits of the project and the potential impact on the organization and stakeholders. Be specific and quantifiable, if possible, and provide clear evidence of the benefits.

Anticipate potential concerns and objections that stakeholders may have and be prepared to address them. Be proactive in addressing potential challenges and provide clear, concise answers that address stakeholder concerns.

Use visual aids, such as slides, diagrams, and charts, to support your presentation and make your points more impactful. Keep visual aids focused and straightforward, and avoid overloading them with information.

Practice your presentation and be prepared to answer questions and provide additional information as needed. Be confident and knowledgeable, and be willing to adapt your presentation as required based on stakeholder feedback.

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A business case analysis is a process of evaluating a business case and determining if it is viable and likely to achieve its intended goals. The analysis should consider all aspects of the business case, including the problem statement, objectives and requirements, alternatives analysis, recommendations and implementation plan, financial analysis and projections, KPIs, risk assessment, and stakeholder analysis.

The purpose of the business case analysis is to provide a comprehensive and objective assessment of the business case and to identify any potential risks or areas for improvement. The study should be based on data and evidence and consider the feasibility and viability of the project from a technical, financial, and organizational perspective.

A business case analysis is a critical step in the business case process as it helps evaluate a proposed initiative's feasibility and viability. The following are several examples of business case analysis:

  • Cost-Benefit Analysis: A cost-benefit analysis is a common type of business case analysis that compares the costs of an initiative with the benefits it is expected to provide. The analysis should take into account both the direct and indirect costs and benefits.
  • Break-Even Analysis: A break-even analysis is a type of financial analysis that calculates the point at which an initiative will start to generate a profit. This analysis is vital for initiatives that have significant upfront costs.
  • Risk Analysis: A risk analysis evaluates the potential risks associated with an initiative and the impact they may have on the success of the initiative. The analysis should identify the likelihood of each risk occurring and the impact it may have.
  • Feasibility Analysis: A feasibility analysis evaluates the technical, operational, and economic feasibility of an initiative. The analysis should consider the resources required, the timeline, and the impact on the organization.
  • Market Analysis: A market analysis evaluates the demand for a product or service and the competition. The analysis should consider the target audience, market trends, and the strengths and weaknesses of the competition.

These examples provide a general understanding of the types of analysis that can be performed as part of a business case. The actual analysis performed will depend on the specific situation and the goals of the organization. The analysis results should be used to make informed decisions and evaluate the initiative's success.

Project management is an essential aspect of a successful business case. Effective project management helps ensure that the project stays on track, that resources are used effectively, and that the project meets its intended goals and objectives.

Here are a few best practices for business case project management:

  • Define clear project objectives and goals: Ensure that all stakeholders are aligned and understand what is expected.
  • Establish a project team: Establish a team with the necessary skills, knowledge, and expertise to execute the project successfully.
  • Develop a detailed project plan: Including a timeline, budget, and resource allocation plan. The project plan should be flexible and updated regularly to reflect changing circumstances.
  • Monitor and control project progress: Ensure that it stays on track and meets its intended goals. Regularly review the project plan and make adjustments as needed.
  • Communicate regularly with stakeholders: Ensure that they are informed and aware of project progress, and to address any concerns or objections they may have.
  • Continuously evaluate and improve the project: Make changes as needed to ensure that it stays on track and achieves its intended goals.

A well-written and thorough business case is essential for making informed decisions and achieving organizational goals. The following are several best practices for creating a successful business case:

  • Clearly Define Objectives: The initiative's objectives should be clearly defined and aligned with the organization's goals. This will ensure that the initiative is focused and that the results are meaningful.
  • Gather Relevant Data: The business case should be based on accurate and relevant data. This includes financial data, market data, and data on the current situation.
  • Use a Structured Format: A structured format, such as the business case template, will help to ensure that all necessary information is included and that the business case is organized and easy to understand.
  • Consider Alternatives: The business case should consider alternative solutions to the problem or opportunity being addressed. This will help to ensure that the best solution is selected.
  • Include a Risk Assessment: A risk assessment should be included in the business case to identify and evaluate the potential risks associated with the initiative. This will help to ensure that the risks are managed effectively.
  • Involve Stakeholders: Stakeholders should be involved in the business case process to ensure that all perspectives are considered and that the initiative is supported.
  • Continuously Monitor Progress: The business case should include a plan for monitoring the initiative's progress. This will help to ensure that the initiative stays on track and that any necessary adjustments can be made.
  • Update Regularly: The business case should be updated regularly to reflect changes in the situation or the initiative. This will help to ensure that the business case remains relevant and valuable.

By following these best practices, organizations can create effective business cases that support informed decision-making and achieve their goals.

In conclusion, a well-prepared business case is essential for securing support and approval for your project. By following these best practices and guidelines, you can develop a strong and compelling business case to help you achieve your goals and succeed in your endeavors.

  • Problem Statement: A clear description of the problem that the project aims to solve.
  • Objectives and Requirements: The goals and specific requirements of the project.
  • Alternatives Analysis: An examination of different options for solving the problem and the pros and cons of each.
  • Recommendations and Implementation Plan: A recommended solution and plan for implementation.
  • Financial Analysis and Projections: An estimate of the costs and benefits of the project, including revenue and expenses, and a projection of the return on investment.
  • Key Performance Indicators (KPIs): Metrics used to measure the project's success.
  • Risk Assessment: An evaluation of potential risks and a plan for managing them.
  • Stakeholder Analysis: An assessment of the interests and influence of stakeholders and their impact on the project.

Hady has a passion for tech, marketing, and spreadsheets. Besides his Computer Science degree, he has vast experience in developing, launching, and scaling content marketing processes at SaaS startups.

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The Plain English Guide to Writing a Business Case

Rebecca Riserbato

Published: April 01, 2021

Have you ever heard the age-old classic story of a company that got its start from a back-of-the-napkin idea? Or about the start-ups that started in someone's garage?

business case plan example

While all those stories are, of course, inspirational, a huge element that they leave out is that every business started because someone felt the project justified spending time and money on it.

That's why some projects require you to write a business case. Whether you want to start a company, pitch a new product, or perhaps you just want your business to use a new project management tool. Either way, a project that requires time and resources will also require justifying those expenses in the form of a business case.

Below, let's review what a business case is, plus an example and template to inspire your own business case.

→ Download Now: Free Business Plan Template

What is a business case?

A business case is a document that evaluates whether a project or task makes sense to complete. It will present the reasoning for taking on a project, such as benefits, cost, risk, etc. Essentially, this document makes a case that a project makes business sense to do.

In a business case, you might include the background on a project, expected benefits, costs, risks, and opportunities. This document will justify taking on a certain project. So, how do you develop a business case? Let's dive in below.

Business Case Development

To develop a business case, you'll need to write several key components, including a proposal, strategy, budget, SWOT analysis, and project plan. With these documents, you should be able to prove that the project you're pitching is worth doing.

Let's dive into the steps for how you'll develop a business case below:

1. Research

Before you can write a business case, you need to do your research. First, you should have a goal in mind for your project, whether it's to create a new product, help drive more traffic/leads, or improve user experience.

Write down your goal and then conduct research to prove that your project is the way to achieve your goal.

You can begin by researching what competitors are doing and look for gaps that your project solves.

Start to brainstorm what this project's strengths, weaknesses, opportunities, and threats are. Additionally, you'll want to learn about your market -- whoever will be the consumer of the project, even if that's your own team.

Finally, you should start to look into what a budget would look like for your proposed solution.

2. Focus on one component at a time.

A business case will usually include several documents. Focus on one at a time, while keeping your notes organized.

Start with your proposal, then move on to your SWOT analysis, the competitive analysis, the project plan, overall strategy, and then the budget. It can be easy to get lost in just one of these tasks, so focus on one thing at a time to complete the bigger picture business case.

3. Write an implementation plan.

Once you've gathered your research and you're working through each component, it's time to start thinking about implementation.

How will you implement your project? Once you've made the business case that your project should be done, stakeholders will wonder how you'll execute it.

To do this, write an implementation plan that discusses how you'd complete the project and metrics that you'd track to measure success.

Once you're done writing your business case, look at the whole document and ask yourself whether it's comprehensive, measurable, and adaptable.

A business case doesn't need to be an entire business plan for a new product. Sometimes it will be less formal due to the size of the project. Either way, you want to make a strong case for your project, so it should be easy to understand and implement.

Now, let's look at an example of what a business case might look like.

Business Case Example

Now that you've seen what it takes to write a business case and what the process looks like, let's look at an example for inspiration.

In the example below, the project is about getting a new phone system to help the sales staff. Because this is a fairly small project, the business case isn't several pages long with exhaustive research.

However, it's important to keep in mind that while your business case might look something like this for a small scale project, it might include several pages of information if you're pitching something like a new product or a new UI to improve user experience.

The point in the business case is that it's adaptable to be whatever you need. However, the components of the business case will be the same regardless of how long it is. Every business case should include why a project should be done, the benefits, costs, risks, and budget.

A business case example.

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How to write a business case (+ free template and example)

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Table of Contents

Let’s say you are a project manager — and you notice the communication tool your team is using is outdated and difficult to use. 

It frequently causes issues in communication — team members don’t always receive meeting invites, messages get lost, you can’t save important information without writing it down somewhere separately, etc.

You discovered a new communication tool that you think would be great to switch to, but that would require the whole company to transition from one to the other. You can’t just suggest this to your superiors, without offering concrete evidence as to why the switch is necessary.

This is where a business case comes into play. It outlines why and how an endeavor or a project is worth undertaking. In this text, we will talk about:

  • What a business case is,
  • How it differs from similar documents,
  • How to write and present a business case, 
  • The Five Case Model for preparing a business case, and
  • The key elements of a business case.

We will also provide you with a business case template you can use, and an example you can reference.

How to write a business case - cover

What is a business case?

As per the PMBOK 7th Edition , “ a business case is a value proposition for a proposed project that may include financial and nonfinancial benefits. ” 

On top of this, “ a business case can contain information about strategic alignment, assessment of risk exposure, economic feasibility study, return on investments, expected key performance measures, evaluations, and alternative approaches. ”

Basically, a business case is a document that acts as the summary of your project idea, providing the reasons it should be executed and focusing on the benefits it brings.

Writing one should be among the first steps to starting your project — as you will use it to gain the attention of the stakeholders and convince them to support your project. 

We’ll get into detail on writing it, but first — let’s clear up the difference between a business case and some terms it’s often confused with.

Business case vs. business plan

A business case and business plan seem similar at first glance — they both outline a project and can be used for stakeholder propositions. 

In reality, though, they are used for different things.

The main difference between the two is what they focus on. 

Business cases are created for endeavors within a business — projects, acquisitions, events — while business plans are typically used when starting a new business. 

A business plan will contain broader aspects of a business — like a mission statement or target market. Business cases are more specific, and they deal with an aspect of a business — be it an issue or an opportunity.

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You can find examples of how to write a business plan in our guides on starting a business in different US states:

  • How to start a business in Connecticut
  • How to start a business in Arizona
  • How to start a business in Alabama
  • How to start a business in Arkansas

Business case vs. project plan

A business case can also be confused with a project plan . However, a business case should justify why a project should exist. Only after a project is approved, post business case review, a project plan is created.

Where a business case will speak on how a project should look, a project plan will determine how it will look. Meaning, business cases are broader and more theoretical. Project plans need to be exact, as they will serve as guidelines for all project team members .

Business case vs project charter

The main difference between a business case and a project charter lies in their similarities — a business case is used to justify a project’s existence, while a project charter is used to authorize its execution. Again, a business case is created before the project charter.

The second difference between the two is in how concrete they are. A business case suggests project managers, while the project charter authorizes them. Essentially, the project charter makes the final calls on how things should be done. 

The same goes for the project scope — while a business case can suggest the schedule and budget of a project, the project charter will make the final decision.

business case plan example

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How to complete a business case in 3 steps

The business case is one of the most important documents to create for your project. Therefore, you should approach the process of making one with utmost care and attention.

For ease of reference, this process can be separated into the following steps:

  • Do your research,
  • Write incrementally, and
  • Present your business case.

Step #1: Do your research

Rushing into things blindly will practically always result in failure. So, before you begin writing a business case, you must gather as much information as possible regarding the desired project.

It’s good to seek out information on matters you know little about. Consult experts in the fields required for your project. 

For example, if you are creating an app to help tourists experience lesser-known landmarks, you want to consult both with IT experts and tourism experts for the appropriate locations.

Now, instead of relying on data you’re unsure of, you have concrete, confirmed information that you can create your project around. 

Basically — you’re taking the guesswork out of the equation.

Step #2: Write incrementally

Now that you have all the information necessary for your project, it’s time to start writing your business case. 

This is where you’ll determine where certain pieces of information you’ve gathered will fit — which piece of your project they are necessary for.

Knowing how to utilize what you’ve learned is essential for this step. For example, if you’ve gathered information on what it would take to create your app, you should know the:

  • Employee skill sets required, and
  • The number of employees needed for your project.

Once you have all the information, try to present it in a concise but compelling manner.

It’s good to check in with your project stakeholders for updated information and change the business case incrementally with their input. After all, the stakeholders have your project’s best interest at heart, so their advice is to the project’s benefit.

You want to save the executive summary for last since it will be a recap of all you’ve written in your business case.

Step #3: Present your business case

Now that you’ve completed your business case, it’s time to convince your stakeholders that it’s an endeavor worth pursuing. 

Whether it’s external financiers or company seniors, you need to have important stakeholders on your side for the project to take off. 

Your business case might be incredible, but if you cannot sell the idea you’re pushing, it will be difficult to get any backing. So, organize a presentation for your stakeholders or try an elevator pitch — a quick way of presenting your key points.

If you’re inexperienced with presenting your ideas, practicing an elevator pitch is a great way to realize what the main selling points of your project are. 

An elevator pitch should last around 30 seconds — about as much as an elevator ride lasts — and include the main reasons someone should invest (be it their time, funds, or effort) into your project.

The Five Case Model for developing a business case

When writing your business case, you should not only be concerned with what the contents of your business case will look like but who will be reading that content as well.

There are many different kinds of stakeholders, and all of them will be looking for different appeals in your business case. To help you write one that can get positive remarks from all of them, you can use the Five Case model .

It suggests that a business case should be written from five different points of view, named:

  • The strategic case,
  • The economic case,
  • The commercial case,
  • The financial case, and
  • The management case.

POV #1: The strategic case

The strategic case is written from the perspective of the business itself. It aims to show how a project will keep in line with the business objectives, goals, and vision — and benefit them.

The goal is to show how this project will positively impact the business — whether directly, through perhaps a product, or indirectly, through something like a PR stunt.

POV #2: The economic case

The economic case is written to show how the project brings social value, including environmental effects. The most important part of the economic case is the options analysis, which we will touch on in the next segment.

Not surprisingly, you want to focus on the economic case if you are making a project that will interact with the public. 

POV #3: The commercial case

The commercial case is written to show the commercial strategy and cost-effective procurement of project resources . It shows that you have a good understanding of the marketplace by assessing supply options.

You’ll need to keep updated on costs, the resources you’ll need, as well as any risks that might come when acquiring them. 

POV #4: The financial case

The financial case, in essence, wants to answer the question — can we afford it? It speaks on the funding of the project and the support of stakeholders and customers.

For the financial case, you need a thorough understanding of the capital, revenue, and whole-life costs of your project. You also need to address any possible gaps in funding that might arise during the course of the project.

POV #5: The management case

The management case is written to show the delivery, monitoring, and evaluation of the project. You need to assure your stakeholders that your project will be managed with the best practices and that all timelines are set with appropriate goals assigned to them.

It mostly covers the project governance and risk management elements of the business case, which we will talk about soon.

7 Key elements of a business case

A business case can have many elements — there can be over 50 elements in a detailed document. 

However, we can divide and combine them into 7 key elements that should exist in every business case, namely:

  • Executive summary 
  • Financial assessment
  • Business objectives
  • Project options analysis
  • Cost-benefit analysis
  • Project governance
  • Risk management

Let’s dive further into them and see what you should look into when writing each of these elements in your business case.

Element #1: Executive summary

You could view the executive summary as a retelling of the essence of the business case. It gathers all the most important information from the rest of the document in one place.

An executive summary should start with an introduction and answer the following questions:

  • What issue does the project solve or what opportunity does it take advantage of? 
  • What options exist to tackle this issue/opportunity?
  • What option is the preferred solution?

Next, you want to present the research you went through to create this business case. Then, go through your recommended actions — the conclusion of your research. This is essentially where the bulk of your project expectancies go.

By the end, the reader of your executive summary should understand what they’re getting into for the rest of the document.

Element #2: Financial assessment

In the financial assessment, you want to predict the cash flows of your project. The first thing you want to show in this section is detailed cost estimates and risks.

You should produce cost estimates for different aspects of the project — for the app example, think UI design or marketing — and determine them at both the P50 and P90 levels of confidence. 

P50 means a cost estimate with a 50% probability of not exceeding it, and P90 means a 90% chance of the same. 

For example, you’re 50% sure that the UI design costs will not exceed $50k, but you’re 90% sure they won’t be over $70k.

Next, you want to present the following:

  • Project funding analysis, 
  • Development analysis (the cost of scoping a project),
  • Staffing impact summary, and 
  • Summary of costs for each project phase. 

Element #3: Business objectives

The business objective answers a simple question — why are you doing the project? 

Think back on what we described first in the executive summary. What opportunities or issues arose that require this project to exist?

How does this project relate to the current business strategy? You need to convince everyone reading that your project needs to happen. 

What are your project goals? Once you determine project goals, you can determine:

  • Project scope,
  • Project constraints , and
  • Project deliverables .

Element #4: Project options analysis

Now that you’ve justified the reason your project should exist, it’s time to take on different options for its execution. 

This element is dedicated to analyzing the strengths, weaknesses, opportunities, and threats of each option — basically, doing a SWOT analysis for each of them. 

Then you want to shortlist the options by discarding the ones that don’t lead to the desired outcome. Finally, do a reassessment of the shortlisted options and discard options accordingly.

Take a look at the external stakeholder impact of each option. More specifically, you want to look at the nature and level of impacts, specify the negative ones, and propose how they should be managed and mitigated.

While this boils down to a risk analysis for each option, it’s broader and used to determine the overall risk of each option. A more detailed risk analysis, determining the weight of specific risks and building contingency plans, comes later.

The project that comes out of this will be the preferred option for tackling the issue or opportunity described, which will be used as a reference when the actual project is executed. Finally, determine target outcomes for the reference project, measured with project KPIs . The targets must be realistic and measurable, yet challenging.

Element #5: Cost-benefit analysis

A cost-benefit analysis is used to prove that your project is worth doing from a business point of view. It proves that the benefits of doing a project are greater than the costs, thus justifying the project.

The cost-benefit analysis is done in 4 steps:

  • Establish a framework — in this step, ask yourself what the measurement of your project’s success is (hint — take a look at the KPIs you’ve determined) and make sure both costs and benefits are measurable.
  • Analyze costs and benefits — measure the costs and benefits of your project separately. Some are obvious — material or employee costs — but some are more elusive. If you are using an owned facility to house the project in, you are not spending any money for rent, per se — but that facility’s worth is being directed towards your project, so it’s an indirect cost.
  • Establish a value for the costs and benefits — to compare the costs and benefits, they must share an equal “value unit”. Traditionally, monetary currencies are used, but you can be more creative if the situation calls for it. Intangible costs and benefits can be difficult to place a specific value on, but not impossible to achieve still.
  • Compare the value of the costs and benefits — compare the sums of both the costs and benefits of your project. If the benefits outweigh your costs, your business case is good to go. If it’s the opposite, maybe you should revise the option you chose in the previous element.

Element #6: Project governance

Who will do what in your project? This is the question you want to answer in the project governance element of your business case. A typical hierarchy is set as:

  • Responsible minister,
  • The project control group,
  • Project sponsor, and lastly,
  • Project team.

Next, you want to analyze communications. In essence, how and how frequently will you communicate with certain stakeholders? 

You can use:

  • Progress reports for superiors, 
  • Team meetings for team members as internal stakeholders, or 
  • Even social media for communication with customers as external stakeholders.

If you want to know more about the importance of communication in a project, check out this article:

  • Why is communication important in project management?

Element #7: Risk management

Lastly, an element you mustn’t underestimate is risk management . Risk assessment is so vital to every project that it’s done while writing a business case, so even before the project is approved.

Risks are analyzed through 2 criteria — likelihood, and impact.

By likelihood, they can be: 

  • Almost certain,
  • Possible, and 

By impact, they can be: 

  • Major, and 
  • Catastrophic.

These criteria are used to create a risk matrix, determine the categories of risks, and make us aware of how urgent action is. Safe to say, if a risk is both catastrophic in impact and almost certain in likelihood, action on it is prioritized over any other.

You can vary these parameters of likelihood and severity to keep your analysis flexible, as seen here:

Example of a risk assessment matrix

After all the risks have been identified, you want to construct a risk management plan , outlining all risks and their categories, as well as figuring out contingency plans for all of them.

If you want to learn more about managing risk in your projects, check out this guide:

  • What is risk in project management?

Business case template + example

Knowing the steps to make a business case, however, does not properly explain what a business case looks like. 

A business case can be very detailed — the sheer number of points in it could be as long as an academic paper. 

But, we’ve created a business case template with 7 of the most important points it should have:

  •  Executive summary
  • Cost benefit analysis

Business case template

🔽 Get the free business case template here

A filled-out business plan template can be extensive, spanning many pages of documentation. So, to give you an idea of what you should be writing about in a specific situation — we have filled in a business case template with the thought process that will come into writing each element:

Project title: Poetry Night event

Start date: 10/5/2023

Project manager: William Cambridge

Contact info: [email protected]

Executive summary: Reasoning for a poetry night might come from doing a poll, showing that the local area has no such events, yet the populace shows a good number of aspiring writers and poets.

Financial assessment: Cost estimates for this project may vary — renting space may be mandatory, and you might want catering for the event. Both of these may vary in cost depending on the number of attendees, so for your P90 analysis you should take a look at the poll results to estimate the maximum number of guests.

Business objectives: This project is done for public benefit, but can also serve to boost the PR of an organization. The project goals might be viewed through the attendees’ satisfaction, a boost in your organization’s online presence, or a rise in the popularity of a poet you were trying to promote with the event.

Project options analysis: This section would be dedicated to analyzing the different kinds of executions of the poetry night. Should it be in public, or in a closed rented space? Should there be light music in the background, and would it be beneficial to the event if the music was live? If you’re unsure of the answer — consult with stakeholders. In this case, you could do another poll.

Cost benefit analysis: The benefits of this project will largely be intangible — the rise in your organization’s popularity or the satisfaction of attendees would be difficult to quantify with dollar signs. However, there might be tangible benefits to find — if your organization offers a product or service, is there an expected rise in procurement after the project’s completion?

Project governance: Who will be in charge of the organization of the project? Who will be the sponsor? Who will tend to the catering? Who will be the presenter, and whose poetry will be presented? Answering these questions gives us project governance in this example.

Risk management: Is there a possibility that very few people will show up? Is there a possibility that the vendor of the rented space or the catering cancels last minute? In that case, is there a backup you can use and how can you notify all attendees of the change effectively?

And below, you can see how our example looks when we add it to our business template:

Business case example

Conclusion: Use a business case to pitch your ideas correctly 

By now, you should be aware that just having an idea usually isn’t enough to make someone want to support it. Analyzing it, justifying it, and creating a detailed business case around it are the essence of selling an idea to superiors or potential investors.

Always start with the idea itself — the best way to bring someone closer to it is to explain how you came up with it in the first place. Be sure to compare with alternatives, and show why your case is the one to go with.

A business case is a great tool to facilitate growth, whether it be small or large in scale. 

✉️ Do you have experience with writing business cases and have additional advice on the subject? If yes, write to us at [email protected] and we may include your advice in this or future articles.

LukaBogavac

Luka Bogavac is a project management author and researcher who focuses on making project management topics both approachable and informative. With experience in entrepreneurial projects, education, and writing, he aims to make articles that his younger self would appreciate. In his free time, he enjoys being outdoors hiking, or staying indoors with a good film or video game.

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How to Write a Business Case | A Step-by-Step Guide with Examples

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  • December 13, 2023

How to Write a Business Case _ A Step-by-Step Guide with Examples

Analysis before making a decision or undertaking a new project is vital for effective execution. Weighing the benefits and risks of your decision will prepare you for the unforeseen obstacles or consequences that might come your way.

A business case serves this purpose.

A business case is the first document that is made before a project begins. In other words, it is a compact document that includes all aspects of the investments put into the project and analyses the risks and returns to help you make a rational decision.

As the name suggests, a business case is mostly used by businesses. However, its utility stretches beyond that as it can benefit you in your personal life too. It is a great way to assess whether or not the returns from an investment are worth enough to justify the risks involved.

Why Write a Business Case?

A business case shields you from bad decisions. Before initiating a project it is vital to assess the pros and cons of the situation and measure the alternatives. A business needs to be conscious while investing capital and resources in its projects to reduce potential risks and avoid failure.

It can be intimidating to ensure that you have chosen the right project. However, with an effective business case, you can rest assured that you have done your research and analysis before going ahead with the project.

How to Write a Business Case

The goal of a business case is to convey the objectives and execution of a project. These are four major steps involved in creating a concise and accurate business case:

  • Define and identify the business problem
  • Identify the alternative solutions
  • Recommend a preferred solution
  • Describe the project organizations

A business case should be drafted in the presence of people who are experts in various fields. This will assure that the information mentioned is thoroughly researched. It is important to note that the document should be reader-friendly.

Now that you are familiar with what a business case is and its significance, let’s take a look at the steps of creating a business case.

alternative solutions

Every problem has multiple solutions and each solution has its benefits and limitations. To ensure the optimum use of resources, examining all the possible solutions is essential.

In this step, you need to list down all the possible solutions to the problem you have previously defined. Identification of the alternative solutions includes the following elements:

1. Define and identify the business problem

The purpose of a project is to solve a problem or achieve a certain objective, hence the foremost thing to do is to define the project and study the problem that needs to be solved. These are the sections that need to be included in this part of your business case:

Executive Summary

An executive summary is a short section that gives an overview of your document. It should be succinct in conveying vital information about the project. It should get across the anecdote about the project in simple yet persuasive words.

Project Objective

Here, you describe the goal you want to achieve through the project. You also specify the benefits it brings to the business. You can also give a brief intro about the solutions you suggest to solve the problem.

Research your market

Now, include the complete analysis of the marketplace in which your business is operating. A good start would be by including the PESTEL (political, economic, sociological, technological, environmental, and legal) analysis.

Problem Analysis

After the market analysis, you add a detailed analysis of the problem this project is solving. And you also mention and describe the opportunity you have through the problem that you have identified.

2. Identify the alternative solutions

Description.

In this part, you describe the solution, its implementation, and the time it takes to achieve the objectives.

Benefits and limitations

Here, you should list down all the benefits of this particular solution and also mention any limitations it has.

Costs and feasibility

This will include a forecast of the costs this solution will need. Costs also include the resources and manpower used. Explain the practicality and feasibility of this solution.

Risks and Returns

Analyse the risks of choosing this solution, and explain them in detail. Also, forecast the return on the investment you receive through this solution.

3. Recommend a Preferred Solution

A problem may have a myriad of solutions. The hard part isn’t listing all the possible solutions, but selecting the best one is. It can be tempting to explore all the paths, but most times, neither do you have the resources nor the time to do it. So the ideal way to go about this situation is to put your solutions to the test. In this step, you should include the following:

Rank your options

After listing down the proposed solutions, you rank them and measure them with the metrics that are appropriate for your project. Explore all the benefits, risks, and timescales and compare them across the solutions.

Selection of a solution

Now, you select the one that’s best for you. Considering all the data and comparing all proposed solutions, you should decide the solution that is optimal for this project. It can be tricky to make this decision but effective research can help you here.

4. Describe the project organization

Now that you have identified the problem, and selected the ideal solution, it is time to describe how you will implement the solution. This step will include all the operations of the project, financial aspects, allocation of resources, and more.

Everything you mention in this step will help you to convince the readers that this is the best way. These are the key aspects to be included in this step:

Budget estimation

Now it is time to predict the costs that are required to complete the project in the chosen timeframe. Here, you also mention the cash flow and compare the benefits against the costs incurred.

Planning and scheduling

This part includes planning and making a schedule to implement the project. Create a timeline for the project and predict the time each task requires. Planning will ensure a smooth pace making it easy to detect any deviations and correct them.

Role and responsibilities

Now you can go ahead and assign roles and responsibilities. Create teams and assign tasks. You can also list out all the important roles.

Allocation of resources

After assigning roles, you specify all the resources this project will require. Mention and allocate the resources for each task.

Project management

All the above steps are important, but they will be an asset only if the governance is effective. Here, you state the structure of the project and the decision-making process . This will give an idea of the framework of the whole project and how it will be managed.

Business Case Examples

A business case is a versatile document that can be used by anyone for any decision-making process. To get a better idea of what we are talking about, you can take a look at these business case examples.

But just to get you started, here are two simple examples that can help you understand how a business case can be used in different scenarios.

Example 1: Hiring an employee (Professional Use)

Executive summary:.

A requirement for a new employee has emerged with the undertaking of the new project. Two alternatives were considered and the best option would be to delegate the extra work to the existing employees.

Objectives:

Complete the project efficiently Increase ROI on this project

Alternatives:

Hire new employees to work on the new project Delegate the project to the current employees and increase their salary

Preferred solution:

Delegating extra work to the current employees and paying overtime wages.

Benefits of the preferred solution:

Paying overtime is cheaper than paying new salaries It is easier to predict pre-existing employees’ performance Pre-existing employees don’t need additional training and orientation

Risks/Limitations of the preferred solution:

High stress Low morale Decrease in productivity over time

The project will last for 3 months Hiring new employees will take 2-3 months

25% added overtime pay to the current salaries 15% added electricity and maintenance costs

Delegating extra work to current employees is a better decision than hiring new employees. It gives a better ROI.

Example 2: Buying a car (Personal Use)

William needs a vehicle to commute to his new job which is far from home. William’s son needs a safer way to get to school due to his fractured leg.

Buy a new car Buy a second-hand car Use public transport

Buying a second-hand car

Alex can get to work quick William’s son has a safer way to get to school A second-hand car is cheaper

A second-hand car has a lower lifespan and durability A second-hand would not come with a free 1-year warranty Daily use of the car would generate a high carbon footprint

Timescales:

2 months to find a good car deal 1 year of paying insurance

Car cost – $10,000 to $15,000 Gas – $100 per month Maintenance – $1000 per year

Is it worth investing $15,000 for conveyance? – Yes Is a second-hand car affordable? –Yes

Make the Right Decisions with a Business Case

Trying to make a business decision invites a lot of possibilities—ones that you have to study and analyze thoroughly before forming a conclusion. The same is better done using a business case, as it provides you with a well-structured and procedural way to pick and execute a business decision.

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How to write a business case: tips, resources and examples.

Business case studies, presentations and charts

In business, resources are finite, and opportunities come at a cost. In pursuing profit and growth, organisations continually ask themselves several questions: What projects should we invest in? What products or services should we offer? How do we best utilise resources? The answers are not simple, and they need to be supported by research, facts, and figures. To facilitate decision-making, research, facts, and data that support certain decisions are presented as a business case. 

Business cases are critical pieces of project documentation that outline a business problem and provide options to solve it. The aim of a business case is to convince decision-makers that a particular course of action will result in the best outcome for an organisation.

Business cases need to be created daily within organizations. They have consequences for the individual presenting it, the department and the business at large. As such, it’s critical to understand how to create and present them effectively. Here, you will discover the different types of business cases, how to write a business case and how to present one. You will also find an example of a business case and resources to help you create your own. 

Business case basics

Business cases have characteristics that are similar to other types of organisational documentation. Below is information on what business cases are (and what they are not) and the different types of business cases you can produce.

What is a business case?

Every day, hundreds of different projects take place within organisations around the world. Of these projects, many are business-as-usual (BAU). BAU projects are projects the business carries out as part of their everyday activities. Outside of these, there are also special projects that don’t form part of an organisation’s everyday activities but are still critical. These projects may require a business case to be created.

A business case will help decision-makers understand why a special project needs to be completed and how they should do so.

Why create a business case?

Business cases perform two important functions. Firstly, they help organisations understand project options and what each will cost in terms of time, money and opportunities lost or gained. 

Secondly, they show decision-makers that there is rigour behind certain courses of action. For example, a business case might show that two IT systems have been analysed but that a certain provider will fit the business’s requirements better. Business cases show that decisions are based on research and facts, as opposed to one person’s opinion. They can help businesses justify their spending, as well as help to protect project leads if something goes wrong.

How is a business case different from a business plan?

Business cases and business plans both help to convince key decision-makers to proceed with a certain course of action. Yet, there are critical differences between a business case and a business plan:

Business cases and project plans both present details of certain projects. Yet, there are important differences:

What are the different types of business cases?

For any business case, there are numerous stakeholders who want to have their say. These stakeholders come from different departments within a business and have different interests in the project. For example, a representative from the finance team might be most interested in whether the business can afford the project, whereas someone from the management team might be more interested in whether his or her team can deliver the project. 

Catering to the differing and sometimes conflicting interests that various stakeholders can have requires a sound business case structure. One model that provides this structure is the Five Cases Model, which stipulates that a business case must be presented from five different perspectives: strategic, economic, commercial, financial and management.

Business Cases from Different Perspectives: The Five Case Model

How is a business case different from a project plan?

1. the strategic case.

The aim of the strategic case is to make a case for change and show how it strategically aligns with the direction of the business. To do this, you align your project’s goals and objectives with those of the business. 

To present the strongest possible strategic case, outline the business problem to be solved, detail the scope of what you are trying to achieve, and describe the benefits and risks. Explain how a particular process, if successful, would contribute positively to the business overall. 

2. The Economic Case

The aim of the economic case is to identify which of the options you are presenting provides the best value to the business, including broader considerations, such as social and environmental effects. This is important if you are presenting a case for a project that the public will interact with, such as developing a product or building a structure. 

To present the best possible economic case, show that you’ve appraised multiple options (i.e. created a long list), ruled out options based on cost and value (i.e. created a shortlist), and then explored, in detail, what each remaining option provides.

3. The Commercial Case

The commercial case is the next logical step after the economic case. When looking at a project from this perspective, show that you can procure suppliers (or internal resources) and that you can do so fairly and cost-effectively. =

To present the best commercial case, anticipate the resources you need and then factor in any contingencies that might occur within the delivery of the project.

4. The Financial Case

When thinking from a financial case perspective, show that the business can afford to fund the preferred option you are presenting. 

To do so, demonstrate that you have analysed the capital, revenue and whole-of-life costs of your preferred option. Do so in a structured manner, such as by using a profit and loss analysis or other financial ratio analysis.

5. The Management Case

Lastly, the management case needs to show managerial stakeholders that adequate plans are in place for the delivery, monitoring and evaluation of your preferred option. 

To do this, present a plan for how your preferred option will be project managed in accordance with best practices, and also show that independent assurance is available if required. For example, consider contract management and how to ensure benefits are realised and human resources are used fairly and appropriately.

When considering how to write your business case, the Five Cases Model is useful, as it considers the perspectives of different stakeholders. Using the Five Cases Model will ensure you present a balanced business case and support agreement on your preferred option more quickly. 

How to write a business case

Business cases are critical documents within organisations and can steer strategic decision-making. As such, it’s important to understand how to write a business case in a structured, professional manner. Here is a list of what should be included in a business case, followed by a detailed description of each.

  • Executive summary
  • Background information
  • Project definition
  • Business Requirements
  • Option presentation and evaluation
  • Presentation of preferred option
  • Strategic alignment
  • Project implementation plan
  • Financial Analysis
  • Resources required
  • Authorisations

1. Executive summary

Business cases can become hundred-plus-page documents, so it’s important to begin with an executive summary. The executive summary should include a brief description of the business problem, options presented and the preferred option.

2. Background information

Many people will have a stake in your business case, and many may have little or no context for the project. As such, you need to provide background information on the project. Background information might include why the project needs to take place, similar projects that have taken place, and what has happened in the lead up to preparing the business case. 

3. Project definition

In this section, outline all of the critical details of your project. Describe your project and include details on the business problem that it will solve. 

4. Business requirements

For any given project, there will be a number of business requirements. For example, did the business have preferred suppliers to work with? Did they have a budget? Did they need a return to be realised within a certain amount of time? Specify these requirements and how your project will meet them.

5. Option presentation and evaluation

The purpose of this section is to show stakeholders that you have researched different options and selected the best one for your business. 

Some business cases may require that you conduct research, present a long list of options and then create a shorter list (and a final selection) based on certain criteria. For other business cases, all you will need to do is write a short description of options. What is appropriate will depend on the scale of the project. 

Regardless of how you present options, show that you have evaluated them based on the criteria you have been provided. For example, you might look at the price for software, or you might consider price and features. Whatever criteria you are using, make sure you apply it equally to all options to show that you have reached a rational conclusion.

6. Presentation of preferred option

Present your preferred option. Detail why you have selected it and why it best meets the evaluation criteria. Show how it meets business requirements. 

7. Strategic alignment  

For projects within smaller organisations, it might be obvious how the project aligns with the strategic objectives of a business. For example, a business case for an EFTPOS machine within a restaurant allows customers to pay for their food, so it has a direct correlation with the business’s cash flow. However, for larger organisations, the alignment between a particular project and the company’s objectives may not be so clear. 

The strategic alignment section is your chance to demonstrate how your project actively contributes to your company’s broader business and strategy plans. 

8. Benefits

The benefits section is crucial in a business case. Outline the clear benefits of your chosen option. 

The benefits you outline should be two-fold. Firstly, they should discuss why the project should proceed in general. Secondly, they should outline the benefits of what you are recommending, so as to convince stakeholders it is the right option going forward. 

Often, people are concerned that if they present the risks of a project in too much detail, decision-markers won’t decide to move forward with a project. This isn’t true. All projects involve risks, and as part of the due diligence in writing your business case, you need to present them honestly and fairly. 

In this section, present the risks, including the likelihood that these risks might eventuate. 

10. Project implementation plan

To approve a project, stakeholders want a clear vision of how the project will be implemented. Detail this plan here. 

Give stakeholders a brief insight into how the project will proceed, which stakeholders need to be involved, what resources are required and a timeline.  

11. Financial analysis

The financial analysis section of your business plan is critical in demonstrating that the project is affordable to the business, that they can fund it, and that it will deliver financial value in the short and long term. 

Depending on the scale of your project, a simple analysis may be required, or conversely, you may need to go into detail and present forecasts and other financial reports. 

12. Resources required

In this section, include all resources, including physical assets, intellectual resources, human resources and financial resources that your project will need. 

13. Authorisations

The authorisations section details who needs to sign off on what and at what stage. 

14. Appendices

The appendices house important information that doesn’t belong in the body of your business case, such as more detailed research on the options you’ve presented, further analysis of risks and benefits, or more in-depth financial models or project plans. 

Business cases are important business documents and require a detailed structure to ensure they function as they should. Including the sections detailed above will give you the best chance of creating a successful business case. 

How to present a business case

Learning how to write a business case is only the first step. The next critical step is presenting it to stakeholders.

Six Tips for Presenting Your Business Case Successfully

6 Tips for Presenting Your Business Case Successfully

Follow the steps below to successfully present a business case:

1. Find the right delivery mode

Finding the right delivery mode will ensure that your business case is well received by decision-makers. Think about how your decision-makers like to be engaged. Would it make sense to send them the business case file first and then present the highlights to them? Or do you want them to view your presentation with no prior knowledge of your business case? Here, consider what presentation medium you use. For example, would a short video introduction work best? Alternatively, will you use PowerPoint? If you use PowerPoint, how can you do so in a way that’s convincing while providing the right amount of detail? Do you need to practice your presentation before you deliver it? Ensuring that you have all of these elements right is the first step in presenting your business case.

2. Prepare an elevator pitch

Senior stakeholders are time-poor, so it’s critical to have a short, sharp elevator pitch that summarises your business case. This is important, as not everyone has time to read the business case. Ensure you have the basics covered with your elevator pitch so stakeholders can make an informed decision.

3. Create a hook

Your business case will contain many critical facts and figures. To engage your stakeholders, you will need to translate them into an emotional story. The story you create around your business case will differ from your elevator pitch. It will include how the project will benefit people. For example, you might talk about how much easier life will be for employees with a new type of software or all the happy families who will enjoy an apartment block. Creating a connection through emotion will help you make an impact and be memorable when presenting your business case.

4. Begin with the business need

Every business case should address a business problem. To get stakeholder buy-in for your business case, start by reminding them of what this problem is so they will have greater incentive to hear about your solution.

5. Make it interactive

Interactive presentations are more engaging and memorable. As such, view and deliver your business case as a discussion. To do this, regularly ask questions to specific stakeholders, and ensure you proactively answer any questions asked to you. Also, if you make your presentation interactive, you won’t have to rely as much on your slides, which will make you appear more confident.

5. Follow up

Following up after your business case presentation is important, as not everyone may have had time to ask questions or felt comfortable doing so. Follow up individually, if possible, to ensure stakeholders have the opportunity to privately voice their concerns. Understanding how to present a business case is as important as knowing how to write a business case. If you follow the steps described above, you will have a higher chance of success.

Business case resources

When learning how to write a business case, it’s helpful to have best-practice templates to work with. Here are some resources you can use:

Smartsheet 

Smartsheet  provides numerous business case templates, including one-page business case templates, construction and project management business case templates, and a PowerPoint business case template.

Safety and quality

The Australian Commission on Safety and Quality in Healthcare provides a solid template for healthcare (and general) business cases.

The importance of your business case

Business cases have significant impacts on organisations. They help steer everything from small decisions to those that change the course of organisations forever. Learning how to craft best-practice business cases can set you up to be effective and efficient when you prepare them in the future.

Learning how to write successful business cases is one part of what success looks like as an executive in modern organisations. Broaden your horizons and opportunities with an Online Master of Business Administration from James Cook University. Learn more here .

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business case plan example

Business Case: Definition, Example, and Template

Fahad Usmani, PMP

November 29, 2022

Business Case

Projects have risks. Risks come in different forms, such as financial losses, reputation, market share, customer loyalty, etc. A business case can help reduce these risks.

Before initiating a project, organizations ensure the project is worth the investment of resources. A business case is a phase gate that determines whether a project will continue to the next phase, be terminated, or be modified.

Stakeholders measure the project’s success in terms of cost, scope, time, and delivering the intended value. A business case connects the project with its value or benefits.

Today’s blog post will discuss the business case and provides its example and a sample template.

What is a Business Case? Definition & Meaning

Definition & Meaning: A business case documents economic feasibility to justify an initiative and is a basis for project initiation.

It includes the feasibility study and explains why the opportunity is worth pursuing. It provides the commercial viability, affordability, and achievability of the project.

New business ventures, product development, IT investments, innovation, etc., require investments, so business analysis weighs the investment against the value the project will deliver.

The value indicates project success and includes outcomes from the user’s perspective. It focuses on the outcome of the deliverables.

Many stakeholders cannot see the project’s value or opportunities and need a winning business case. A winning business case speaks in facts and style. Business executives must possess presentation skills to present business cases to stakeholders and win their trust.

Top management, the company board, or business analysts carry out the business case study. It is the WHY for the project.

In most cases, it happens after the Needs Analysis and Feasibility Study and before studying the Benefits Management Plan.

when business case is performed

Benefit – Cost = Value (Tangible + Intangible)

The value becomes eroded if the benefit is at a higher cost. However, if the benefit outweighs the invested cost, the project is worth investing in. 

The business case is an economic outcome of the feasibility study and helps management make a go or no-go decision.

Project managers do not participate in the business case studies; instead, they receive the project charter , which includes some business case elements. 

However, they can request business case documents. This project document provides them with an understanding of the value of the project and the reasons for the project initiation. 

Project managers can use business case studies as a source of inspiration to motivate the project team members.

The calculation of financial indicators is a significant part of the business case.

  • Internal Rate of Return (IRR): This is the interest you earn as an investor for ‘lending’ money to the project. Mathematically, you can calculate it by summing all present values over the project’s life to zero.

irr business case

  • Return on Investment (ROI): This compares the money earned (or lost) on investment to the invested amount.

roi business case

  • Net Present Value (NPV): This is the value of all future cash flows over the entire life of an investment discounted to the present.
  • Payback Time (PBT): The minimum duration when the cash flow becomes positive. You measure it in months or years. It is one quick way of measuring profitability. In this case, shorter is better.
  • Cost-Benefit Ratio (CBR): This is the ratio of investment cost to the estimated benefit (which has been monetized).
  • Profitability Index (PI): This is the ratio of the present value of future cash flows to the investment cost.

pi in business case study

Business Case Decision-Making Table

decision making in business case study

Content of a Business Case

A business case can include the following elements.

  • Executive Summary: This shows the key points, particularly the project’s financial benefits. An executive summary should be clear, credible, and persuasive. Many stakeholders prefer to read the summary first; therefore, it must be convincing.
  • Introduction: This provides a brief background of the company’s strategic goal and mission, highlighting how the project aligns with the organization’s objectives.
  • Scope: This defines the project boundaries. This is the high-level scope and captures the proposed business solution. For example, for a procurement project, it will capture the freight, commissioning and installation, training, spares, etc.
  • Business Need: This is a statement of the problem to solve. It can be a need that is ill-met, unarticulated, or unmet. Thus, it is an opportunity for the organization to create value.
  • Alternatives: This shows an alternative analysis and how the proposed solution is the preferred way to proceed. Presenting alternatives further supports justification.
  • Benefits: This states the value proposition. A value proposition describes the unique benefit that the idea brings to the company. It could be revenue, cost savings, or non-economic (e.g., regulatory compliance). It states the strengths associated with the offering and how it aligns with the corporate strategy.
  • Cost: This highlights the funding requirements. It can include the bill of quantity, a proforma invoice, etc.
  • Financial Analysis: This expresses the cash flow expected or projected from the investment, then calculates financial indices such as IRR, NPV, PBT, and NCR, as explained earlier. Use figures and charts to communicate your investment viability, as shown below.
  • Conclusion: Here, a final appeal is expressed for approval of the business case.

How to Write a Business Case

A business case is a key to the project’s success and the basis of the project charter and project management plans. Writing a business case requires experience, industry and market knowledge, and authority to initiate the project.

The following four steps are required to write a business case:

#1. Identify the Problem

Businesses initiate to solve a problem. Every project has a goal and objective that aligns with the organizational objective. For example, businesses can create a project to create a new product, build a new factory, conduct market research, etc.

#2. Identify Multiple Solutions

A problem can have many solutions, and you must find the best solution. Therefore, identify multiple solutions for the problem and then analyze the best solution. Then, you can prioritize them using some parameters, e.g., the feasibility of the resolution, cost, duration, required skills, etc. 

#3. Suggest the Recommended Solution

Now you have multiple prioritized solutions. You will further build the case for the best-recommended solution and send it to the management for their final decision. 

#4. Explain the Implementation Approach

This is the last step, and here you explain to stakeholders how you will implement the solution to achieve the organizational goal. You will also explain how the project will benefit the organization. 

Keep the following point in your mind while writing a business case:

  • Keep it short and simple and include essential information
  • Do not use jargon, idioms, and phrases
  • Explain the vision
  • Show the project benefit
  • Ensure the business case is clear, interesting, and concise

Business Case Sample Template

The below image shows a business case sample template.

Business Case Template

Business Case Example

The below image shows a business case example using a different template.

Business-Case-Example

Differences Between a Business Case and Business Plan

Many professionals are often confused between the business case and business plan, though the difference is clear. 

The following table shows the difference between the business case and the business plan.

Differences Between a Business Case and Business Plan

Similarities Between a Business Case and Business Plan

  • Both examine an opportunity
  • Both consider financial analysis
  • Both are used in decision-making
  • Both investigate the future, complement each other, and are business documents.

Business Case Vs Executive Summary

An executive summary is the summary of a document. In project management, executing summary is the summary of all project management documents that stakeholders can read and understand quickly by going through them deeply.

The executive summary provides high-level key information about the document. In addition, the business case will also have a short executing summary for stakeholders to have a quick glance at the business case.

Business Case Vs Project Charter

A project charter is an official document that initiates the project assigns the project manager, and gives them authority and resources to complete the project.

The project charter includes high-level project information such as project objective, project description, executive summary of the business case, project duration, project budget, name of key stakeholders, high-level risks, key assumptions, and constraints.

Benefits of a Business Case

  • It explains the benefits of a business idea.
  • It is a tool used to convince stakeholders of the value of a business idea.
  • It provides details on how a project will benefit an organization.
  • It helps organizations make better investment decisions

Do You Always Need a Business Case?

Not all project requires a business. For example, if the problem is known and the solution is available, you do not need a detailed business case. In such a situation, you can have a simple business case, or you may not have one at all.

You will need a business case when the problem is unique, or you are handling it for the first time, and the solution is not clearly visible. 

Business cases provide all clarification that stakeholders need to decide whether to initiate the project.

Frequently Asked Questions

#1. who creates the business case.

The project sponsor, top management, or business analyst creates the business case. However, they can take help from the project sponsor if required.

#2. When is the Business Case Developed?

The business case is developed before the project is approved and the charter is signed.

A business case is key to every project, as it establishes the justification for the project. It is a vital project document that aligns activities to their value and ensures the organization’s resources become invested in the right project.

  • https://www.business-case-analysis.com/blog/business-case-business-plan-know- difference/
  • PMBOK Guide, Project Management Institute, sixth edition, pg. 29-30
  • https://www.chasegroup.com.au/five-steps-to-develop-a-solid-business-case
  • https://walkerstone.com/2017/07/21/business-plans-and-business-cases/
  • https://medium.com/blackblot/the-difference-between-a-business-case-and-a- business-plan-fe95a2bf90e2
  • https://ocw.mit.edu/courses/sloan-school-of-management/15-401-finance-theory-i- fall-2008/video-lectures-and-slides/MIT15_401F08_lec18.pdf
  • https://www.pmi.org/learning/library/need-business-case-6730

business case plan example

I am Mohammad Fahad Usmani, B.E. PMP, PMI-RMP. I have been blogging on project management topics since 2011. To date, thousands of professionals have passed the PMP exam using my resources.

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How to Write a Business Case

Last Updated: May 25, 2023 Approved

This article was co-authored by Michael R. Lewis . Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 11 testimonials and 98% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 433,290 times.

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. A successfully presented business case can act as an impetus for moving forward with a new, alternative plan of action, or it may simply provide a consistent message, or unified vision for future business decisions and operations. A well-drafted business case will expose major or implementable solutions for conquering a business problem, issue or goal in order to provide decision makers with multiple options to choose from.

Understanding the Business Case Subject

The components of a business case you need to understand.

  • It is crucial to clearly define the problem and parameter of the solution. There should be an agreement about the scope between the person authorizing the business case and those who will execute analysis.
  • Justification for the project could be based on the benefits to business operations, strategic direction goals, and/or cost benefit analysis.

Step 2 Brainstorm about potential options for resolving the business case problem, issue or goal.

  • For example, if the business case plan revolves around entering a new market, there should be a brainstorming session held in order to determine that different marketing strategies required to make the new market entry a success.
  • Don’t just go off and write the business case independently, because successful approval and implementation is dependent on support from relevant business stakeholders and managers.

Step 3 Review your business’s mission statement.

  • Reviewing the mission statement can allow you determine whether the business case and proposed resolution options further the ultimate mission and goals of the business.
  • In most cases, you will be following the directions of a superior whose responsibility is to confirm compatibility between mission and the alternative solutions you provide.

Step 4 Determine who should write the business case.

Creating a Strong, Persuasive Business Case

Step 1 Write down the problem statement.

  • Use the first sentence of the problem statement to concisely present the problem, issue or goal that the business case seeks to resolve. For example, if the business problem is the need to generate additional lines of revenue the problem statement should begin with a statement that: “[Insert business name] is interested in expanding its current revenue stream by [business case’s proposed answer to the business problem].”
  • Get the approval of those requiring the report before continuing.

Step 2 Create a proposed solutions statement.

  • Indicate what is needed to implement the solution or project, including items like a monetary budget and increased labor numbers. Anything that is needed to complete this solution should be explained in the proposed solutions statement.
  • Explain the methods used, and the research conducted in order to come up with the business case plan’s proposed options.
  • Include information about meetings with surveyed departments and target audiences.

Step 3 Provide detailed timelines and time frames for successful project implementation and completion.

  • Provide the costs associated with the project implementation timeline, as well as the potential costs/losses associated with not implementing the proposed business case plan.
  • Explain the potential consequences and losses that could result from the plan not being implemented.

Step 4 Draft an executive summary.

  • Begin your executive summary with language such as: “This report is submitted in support of [insert business plan, goal or issue]. Provided is an evaluation and analysis of all relevant financial, marketing and business costs/considerations associated with implementing the suggested recommendations in this business case.”
  • From there provide an explanation of why the proposed business plan should be implemented, and identify the impacts on the business for not implementing the plan.

Organizing and Presenting a Strong, Persuasive Business Case

Step 1 Edit your business case draft.

  • For example, if your business case suggests the implementation of a new marketing strategy as a means to enter new markets, you should definitely take the time to meet with the marketing team in order to ensure that the processes contained in your business case can be feasible implemented by marketing personnel.

Step 3 Present your business case to final authority.

  • Consider using a PowerPoint presentation to add visuals to your business case presentation.
  • Brainstorm in advance about any potential concerns that management may have about implementing the business case plan. Make sure to address these concerns during your presentation, instead of waiting for management to raise their concerns.

Expert Q&A

  • The business case must be interesting, concise and presented without industry jargon. Data may be presented using charts and graphs for visual appeal. Thanks Helpful 1 Not Helpful 0
  • The business case plan can be presented as a written report, or also in the form of a verbal presentation presented to management with the assistance of a powerpoint presentation. Thanks Helpful 1 Not Helpful 0

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  • ↑ http://whatis.techtarget.com/definition/How-to-write-a-business-case-document#anchor2
  • ↑ http://www.entrepreneur.com/encyclopedia/mission-statement
  • ↑ https://hbr.org/2014/07/the-right-way-to-present-your-business-case

About This Article

Michael R. Lewis

To write a business case, start with a straightforward explanation of the problem, issue, or goal. Next, list the most feasible options for resolution and explain in detail how these options will resolve the problem or issue. Indicate exactly what's needed to implement each solution, such as budget increases and additional labor, and be sure to provide detailed timelines for successful implementation and completion! For tips on organizing and formatting your business case, read on! Did this summary help you? Yes No

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How to Write a Great Business Case

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  • Case Teaching

C ase studies are powerful teaching tools. “When you have a good case, and students who are well prepared to learn and to teach each other, you get some magical moments that students will never forget,” says James L. Heskett, UPS Foundation Professor of Business Logistics, emeritus, at Harvard Business School (HBS). “They will remember the lessons they learn in that class discussion and apply them 20 years later.”

Yet, for many educators who want to pen their own case, the act of writing a great business case seldom comes easily or naturally. For starters, it’s time consuming. Case writers can spend substantial time visiting companies, securing a willing site, conducting interviews, observing operations, collecting data, reviewing notes, writing the case, revising the narrative, ensuring that teaching points come through, and then getting executives to approve the finished product.

The question, then, becomes: Where do you begin? How do you approach case writing? How do you decide which company to use as the subject of the case? And what distinguishes a well-written case from a mediocre one?

We asked three expert HBS case writers—who collectively have written and supported hundreds of cases—to share their insights on how to write a great business case study that will inspire passionate classroom discussion and transmit key educational concepts.

Insights from James L. Heskett

UPS Foundation Professor of Business Logistics, Emeritus, Harvard Business School

Keep your eyes open for a great business issue.

“I’m always on the prowl for new case material. Whenever I’m reading or consulting, I look for interesting people doing interesting things and facing interesting challenges. For instance, I was reading a magazine and came across a story about how Shouldice Hospital treated patients undergoing surgery to fix inguinal hernias—how patients would get up from the operating table and walk away on the arm of the surgeon.

6 QUALITIES OF GREAT CASE WRITERS

Comfort with ambiguity, since cases may have more than one “right” answer

Command of the topic or subject at hand

Ability to relate to the case protagonists

Enthusiasm for the case teaching method

Capacity for finding the drama in a business situation and making it feel personal to students

Build relationships with executives.

“When writing a case, it’s helpful to start as high in the organization as possible. It helps assure mid-level managers that they can share the information you need with an outsider. It also helps when it comes to getting the case cleared for use. Serving on corporate boards can help in building relationships with senior executives, but there are other ways to make those connections. For instance, you can approach speakers at business conferences if you think their presentations could form the basis for a good business case. If you want to write about a company where you don’t have any personal connections, you can always check with your colleagues to see if any of them have a personal relationship with the CEO or sit on a board where they could introduce you to the right person who would be able to facilitate the case. My colleagues and I make a lot of these introductions for each other.”

“If you make the case into a crossword puzzle that takes five hours to solve, it’s not really fair to the students and will most likely cause them to lose focus.” James L. Heskett

Skip the curveballs and focus on key issues.

“Cases don’t have to be obvious. As a pedagogical objective, you might want students to look beyond a superficial issue to say this is the underlying topic that we need to address, and these are the questions we need to pose. Still, I think it’s unhelpful if cases contain real curveballs where ‘unlocking’ the case depends on finding some small piece of information hidden in an exhibit. Give students a break! They may have to read and digest three cases per day, so they probably won’t be able to devote more than a couple of hours to each one. If you make the case into a crossword puzzle that takes five hours to solve, it’s not really fair to the students and will most likely cause them to lose focus.”

Build a discussion plan while writing the case.

“In case method teaching, the teacher is not in complete control. Students teach each other and learn from each other. On any given day, there will likely be somebody in the room who knows more about the company featured in the case than the professor does. So a professor can’t walk into the classroom and expect to impose a lesson plan that goes in a strict linear way from A to B to C to D. The case ought to be written to allow students to jump from A to D and then come back later to B if that’s how the discussion plays out. At the same time, the case should be structured so that the instructor can collect student comments on a board, organizing them as a coherent set of related ideas, and then deliver a 5-to-10-minute summary that communicates whatever essential concepts the case has covered. This summation can be a very powerful teaching and learning experience.”

Focus on quality over quantity.

“Cases don’t have to be too long. Some good cases are only two or three pages. Students may give more scrutiny to these brief cases than they would a 20-page case.”

Advice from Benson P. Shapiro

Malcolm P. McNair Professor of Marketing, Emeritus, Harvard Business School

Take out the chaff in advance.

“You don’t want students to spend too much time separating the wheat from the chaff. If a case has 12 pages of text and 10 pages of exhibits, even the smartest MBA students will likely lose interest. Writers who try to capture a situation from every angle and in every detail end up with sprawling narratives that usually do not make a good case. When writing cases, you need to set good, strong boundaries. Avoid superfluous, flowery, or poetic material that may contain interesting anecdotes or factoids, but that could distract readers from the case’s core topics. Include only those important and useful details that can help students make decisions and understand key issues that the case explores.”

Work in layers and metaphors—subtly.

“The best cases work on multiple levels. A case should focus on a specific situation—for example, whether or not to introduce a certain product. But it should also serve as a metaphor for broader issues in the background: How do we think about introducing new products? Are we introducing enough products? Are new product introductions a source of competitive advantage in our industry? How should we organize and manage new product development? You want the case to encourage students to think broadly about the various cultural, financial, and strategic impacts that managerial decisions have on a company.”

“Writers who try to capture a situation from every angle and in every detail end up with sprawling narratives that usually do not make a good case.” Benson P. Shapiro

Encourage emotional engagement.

“Case writing is an interesting literary form—it needs to be very engaging, but also educational. Great cases revolve around points of contention on which intelligent people can hold different points of view: What should you do? Why? How do you get it done? Ideally, students should have to choose between two very attractive alternatives or two terrible alternatives. The best cases involve questions that get students emotionally engaged so that they really care about choices and outcomes. When you see students physically leaning forward and following what their peers are saying, you know that they have a visceral feel for the importance of the subject. When you hear them debating after class— You were out in left field! You missed what was really important here! —that’s how you can tell you succeeded in developing a great case.”

Lessons from Carin-Isabel Knoop

Executive Director of the Case Research & Writing Group, Harvard Business School

Don’t forget the classroom component.

“Cases are deliberately incomplete documents. What a case writer leaves out of a case is often just as important as what he or she puts into it. Cases are designed to be completed through classroom instruction and discussion. While drafting the case, try to develop the classroom process in parallel. Work on the assignment questions and classroom content. Keep in mind that the case should be able to adapt to your classroom and course needs.”

Hone your elevator pitch.

“Before getting started, always have clear, succinct learning objectives in mind. Don’t start developing the case until you are able to summarize these objectives in less than five minutes.”

Case writing is a relationship, not a transaction.

When choosing a case site, be clear with executives that you are developing a teaching tool and that you will require their time and candor—and eventually their data. Put them at ease, and manage the authorization process, right from the start. Indicate that quotes will be cleared before publication and there will be time for individual review. During the creation process, ask their advice. This creates a process of engagement and helps bring home that this is a pedagogical tool, not gotcha journalism. At HBS, we oftentimes invite someone from the company to attend class. Finally, once the case is done, stay in touch with your case protagonists. They will move to other organizations and spread the good word about their experience with case writing.

Invite disagreement in case discussions.

“The case study method is based on participant-centered learning. The students all start from the same base of 11 (or however many) pages in the case, but they bring different knowledge and experiences into the classroom. So they can take the same facts and disagree about what course of action to pursue. We want students to behave like decision makers, and it can be painful to make decisions. Some critics deride the case teaching method as being unrealistic, but someone who just lectures about marketing doesn’t help students realize how difficult it is to choose between two plausible options to meet the same marketing objectives. For students, a big part of the education process is learning from discussions with classmates who think differently and advocate for different solutions. Witnessing a robust case discussion reminds us of the potential for collective learning to emerge from contrasting views.”

“Faculty don’t just write cases for teaching purposes, they write them to learn.” Carin-Isabel Knoop

The Case Writing Process Is a Worthy Effort

Researching, writing, and publishing cases is well worth the time and effort. “The case research and writing process is important for faculty development,” Knoop adds. “While developing field cases, faculty go to site visits and meet with decision makers. The case writing process helps connect scholars to practitioners and practitioners to the academic world. Faculty case writers get to explore and test how their academic theories work in practice. So faculty don’t just write cases for teaching purposes, they write them to learn. The case method is an integral part of faculty development.”

There’s another big bonus to becoming a case writer, especially for younger educators. “Young business instructors face a credibility gap with their students,” says Heskett. “It’s not uncommon to have MBA students in a class who have more experience than the instructor on a particular subject. Once you go into the field and write a case, you will know more about that subject than anyone else in the class. A primary way for professors to establish their credibility on a topic is to have written the case the class is discussing that day.”

James L. Heskett

James L. Heskett is UPS Foundation Professor of Business Logistics, emeritus, at Harvard Business School. He completed his Ph.D. at the Graduate School of Business, Stanford University, and has been a faculty member at The Ohio State University as well as president of Logistics Systems, Inc. Since 2000, he has authored a blog on Harvard Business School’s Working Knowledge website .

Benson P. Shapiro

Benson P. Shapiro is the Malcolm P. McNair Professor of Marketing, emeritus, at Harvard Business School where he taught full time from 1970 to 1997. Since 1997, Shapiro has concentrated his professional time on consulting, giving speeches, serving on boards, and writing. He continues to teach at Harvard and has taught in many executive programs and has chaired the Sustainable Marketing Leadership for Mid-Sized Firms Program.

Carin-Isabel Knoop

Carin-Isabel Knoop is the executive director of the Case Research & Writing Group at Harvard Business School. She is also coauthor of Compassionate Management of Mental Health in the Modern Workplace .

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CASE TEACHING

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business case plan example

How to Write a Business Case for New Software [Includes Free Template]

You’re ready to invest in new software. You know the positive impact it will have on your business. You’re ready to get things moving. So what’s next?

It can be tough for decision-makers to justify the costs of a software investment without a clear understanding of the system’s merit. This is why writing a solid business case is your best bet.

In this article, you’ll learn how to build a business case for new software by identifying the benefits and costs of the solution and the return on investment. These recommendations and tips are compiled from my professional experience as an ITPMO leader, Gartner research, and best practices shared by the Project Management Institute.

Here’s a preview of the business case template provided for you. Click here to go straight to the template download .

Free-template-business-case

What is a business case?

A business case is a formal document submitted to senior leadership requesting approval for a proposed project. It outlines the business problem being addressed and the proposed solution. The costs, benefits, risks, and project team are each identified.

The business case is then typically submitted for executive review and approval. The approval should serve as formal approval for budget, resource allocation, and scope agreement.

Why is it important?

Creating a business case serves multiple purposes:

Ensures alignment on the business problem and the solution.

Names the project team members and business owner.

Formalizes the budget approval; can also provide backup if the funds allocation is later questioned.

Shows that you’ve thoroughly analyzed the problem, potential solutions, and the risks to come up with the best possible solution.

Acts as the guiding light through the lifecycle of the project to keep the effort aligned with intention.

But what are the risks if you don’t submit a business case? Gartner states that goal-setting and stakeholder buy-in are two main challenges you’ll face if you don’t build a solid business case first. Let’s go over why. ( Full report available to Gartner clients only. )

Misaligned goals: Without a clear business case, there may be no clearly defined and agreed-upon goals for the investment. This makes gathering requirements and selecting a vendor significantly more challenging, and could potentially result in the project stalling, or selecting a vendor that isn’t suitable.

Limited buy-in: Getting the support of stakeholders across the business may be challenging to get without sharing a robust case for doing so. It’s also possible that opposition to the investment could arise months after implementation, when stakeholders challenge you to justify the ongoing costs. This will be hard to do without an existing business case that includes a measure of the success/impact of the new software.

Before going through the steps on how to write a business case, let’s look at this video to understand the contents of a business case.

Step 1: Build the pieces of your business case

When constructing a business case for new software, it’s important to lay out the full scope of the project so leadership can feel confident that you’ve considered the full impact of your proposal. This is especially important when asking for the amount of money the new software will require for implementation and ongoing expenses.

Be sure your argument includes the following elements (we’ll follow the structure in the template provided below):

Executive summary: Provide an overview of the goals of the new software selection and implementation. Don’t forget to state that you want to buy new software—this may seem obvious, but sometimes that can get muddled after you’ve worked and reworked the wording of this section.

Be sure to answer questions such as:

What is the business problem this will solve?

Why do we need to solve this problem now?

Are there changes to rules or regulations that are making this investment mandatory?

And, include highlights of the business problems that will be solved with the new software.

Cost savings (e.g., software will reduce headcount/hours spent on manual tasks, reduction in costly errors).

Revenue enhancement (e.g., increase workflow speed, integrate with partner systems).

Notice that we’re not naming a specific software program in this section and that’s intentional. This is because you need to solve the business problem. Not just buy software.

Oftentimes the project manager or a department head is tasked with implementing a specific tool. For example, if your lead accountant used one program at their previous company, they could request that you invest in the same software. So the project would become, “let’s buy X software” as opposed to a more thoughtful approach such as, “we’ve outgrown our current accounting process and need a robust program to help us scale.”

Solution description : Describe how you plan to use software to solve business problems and/or achieve your goals. Outline what you’ll be able to do that you can’t do now and what requirements the tool should have to support your team or department’s ability to solve their problems and/or accomplish their goals.

In this section, you can also include the justification for how you determined to buy new software as opposed to developing a custom solution in-house or hiring an external software development team. (This might not be relevant for your company depending on your IT environment.)

Cost overview: In the template below, implementation cost, total cost of ownership, and the return on investment calculation are the numbers highlighted. But these can be intimidating and confusing numbers to calculate. Because of this, we’ve dedicated Step 2 in this process to gathering the numbers needed in order to provide accurate and relevant calculations.

Summary of software benefits: Highlight the expected benefits and tangible gains, such as time and money saved, as well as the intangible benefits, such as increased collaboration and improved risk management protocols.

This section should focus on the business benefits as opposed to the technical benefits. Your executives will have trouble valuing the need for new software if you focus on benefits such as reducing technical debt or streamlining system architecture. But they will see the value in, for example, increasing speed and accuracy across the sales and leads process.

Tip: If you’re a very technical person (as I tend to be!), partner with a business leader to write this section.

Execution timeline : Outline the timeline for implementing the software solution. This timeline can vary significantly based on where you are in the software selection process, so be clear on what actions will be taken and when.

Additional elements you can include:

Major milestones such as the project kickoff meeting, the go-live date, and dates for training.

Cadence for team meetings, status reports, and demos.

Project governance : Name each person and their role on the project. Yes, use names, not just job titles, in order to make sure everyone is clear on the resources needed.

Free business case template

If your business doesn’t already have a business case template (and be sure to ask before starting one), we’ve created one for you. Click here to download .

Step 2: Break down the costs

As promised above in the “cost overview” component, in this section you’ll learn about the typical costs business leaders want to see in a business case. For each, we’ll show you where to get the numbers needed for the calculations.

Total implementation cost

To calculate this number, break down the costs associated with the software purchase and implementation. This includes both the obvious costs, such as the number and price of the software licenses, as well as costs that aren’t so obvious, such as new hardware and training sessions.

Tip: Lay out the number of licenses needed and what types are needed. The type of user licenses you’re purchasing can impact cost. For example, a system administrator license typically costs more than an average user, but it’s likely you need only a few of them.

Total cost of ownership (TCO)

Finding the TCO is often the starting point for calculating return on investment (ROI) and comparing vendor price quotes. This involves totaling the upfront costs for each solution, calculating the net present value of recurring costs over the expected lifespan of the tool, and then totaling the upfront costs and present value of future costs.

It’s common for businesses to only think of the initial costs of new software when evaluating vendors and risks. But there’s a considerable number of factors that need to be included when calculating the TCO.

Think of TCO as an iceberg. There’s more than meets the eye:

graphic-shows-an-iceberg-depiction-of-Total-Cost-of-Ownership,-with-expected-costs-above-the-waterline,-and-unexpected-costs-below-the-waterline

Source: Gartner ( full content available to Gartner clients )

Other numbers you may need to factor in include the salary for any new employees required to maintain the software (e.g., IT system administrator) and recurring hardware management, if applicable (e.g., handheld scanners for a new inventory tool ).

Return on investment (ROI) calculation

True ROI is often hard to measure and even harder to guarantee. You can’t know for certain how the business will grow and change over the life of a tool, and it’s possible you’ll need to add new modules or build out integrations.

Business leaders understand the gray area around this number but will expect full transparency from you. Be sure to explain that these numbers are the best projection of the expected benefits and costs of the new software that you’ve made with educated estimates.

The formula for calculating ROI is: 

(gain from investment – cost of investment) / (cost of investment)

Step 3: Get stakeholder support

Writing a business case isn’t a solo task. You need partners at every step in the process to help develop the plan. Here’s some tips on getting stakeholder support:

Communicate with accounting, marketing, and other department leaders before submitting the business case so they are at least aware of the initiative. Key leaders in other areas of the business will help identify your blind spots and can offer solutions.

Get agreement from all contributors on what is outlined in the document. Each person named in the document should see the final draft before it goes for executive review—no one wants their name assigned to work that they’re unaware of.

Don’t think of the presentation of the business case as an unveiling. Instead, whoever you’re getting approval from should be familiar with your proposal before the big meeting. Best case would be for the actual meeting to get approval is just a formality. The major details, such as the cost and type of software and high-level benefits, should all be previously understood by everyone in the meeting. To accomplish this, you’ll likely have to swing by their office or ask to go to lunch to discuss the proposal in the weeks leading up to your presentation.

What if your business case is rejected?

Rejection is a possibility and it’s important to be mentally prepared for this. Fellow PMPs Elizabeth Larson and Richard Larson share some of the best advice for rejection that I’ve come across. Here’s an excerpt from a paper Elizabeth shared at a PMI Global Conference .

Remember that we are advising the organization with our well-thought-out recommendation. Don’t take rejection personally. If your business case is rejected, ask:

Did I work closely with the business owner to develop the business case?

Do I understand the “objections?”

Can I address them to meet stakeholder needs? If I can, the final product will be even better.

Have I given stakeholders enough time to think about the proposal before asking for a decision?

How can I best support the business owner? Should I advise the business owner to walk away (at least for now), or, do we act like a pit bull that grabs on to a leg and won’t let go?

I feel more empowered and resilient just reading her advice again—hopefully you do, too!

Work through these questions and re-evaluate your proposal. Ask to re-submit your proposal at an agreed-upon time in the near future, involve more partners, and then strengthen your business case.

Next steps: Resources for comparing and evaluating software solutions

Now that you know how to write a strong business case, here are a few next steps you should take to help you compare and evaluate solutions:

Read user reviews: No matter what type of software you’re looking for, Software Advice has tons of user reviews for it . See how your peers have rated systems for qualities such as ease of use and customer support.

Schedule product demos: Discuss your needs with vendors and ask for “day-in-the-life” product demos rather than a reel of feature highlights. For more tips, check out this article on " How to Cut Through the Sales Pitch in Software Demos. "

Download the free template: If your company doesn’t already have a business case template, we’ve made one for you. Click to download it now .

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Business Case Template

Use this free Business Case Template for Word to manage your projects better.

business case plan example

A business case template is a document that helps sell your project. It collects the main points of a project and delivers them in a clear and concise manner. Our free business case template for Word is a great tool to help you gather that important data during the project initiation phase and show the project stakeholders the value and validity of the project.

What Is a Business Case?

The business case is a document used in project management to show that the costs related to the project are worthwhile and there will be a strong return on investment. These documents summarize various aspects of the project including its objective in addition to the costs and benefits that the project will deliver to its stakeholders.

You can think of a business case as the pitch you make to win over the client, customer or stakeholder. It justifies the project by evaluating the benefits, costs and risks while showing why this project’s path is the preferred solution to whatever problem the project is solving or the need it’s addressing. This buy-in is essential for any project to meet its objectives.

A business case provides details that are only outlined in the project proposal of the project. Unlike a project charter , which is a high-level description of the project and its deliverables, the business case is more focused on return on investment and future opportunities. The project charter details the actual project more than the business case, which is about justifying a company’s decision on taking on the project.

free business case template for Word

Why You Need a Business Case Template

The main reason why a business case template is so important is that it does the due diligence for stakeholders and proves that the expense is worth the return on their investment. There are many projects that might be in a company’s pipeline with only so many resources to deliver them. It’s crucial to know which project is going to be worthwhile from a financial viewpoint.

A business case acts as a number of different cases. For one, it’s the strategic case, looking to see if the project aligns with the overall company strategy. The economic case explores if the project offers the best value. A commercial case looks at the project through the lens of the market. A financial case sees if the investment is affordable for the company. A management case looks at those who will be involved in the project and whether they can deliver it.

No matter the project, big or small, the business case is a must if only to define the business needs and objectives of the project. Whether you have a long document or capture it all in the span of a single page, the business case template is a great way to align the project team and stakeholders, one of the most important reasons why you need a business case.

How to Use Our Business Case Template for Word

In order to fill in the blanks in our free business case template for Word, you need to start with research. That research will include the market you intend to introduce your project or service to the competitors that are already in that space and any alternatives.

Next, you’re going to compare business and project management approaches, looking for the best fit. The best approaches will be included in your business case template. Then you’ll compile all the data you have and present those strategies, goals and options.

Don’t forget to document everything . Your business case should be to the point but at the same time not skip important details that will sway your stakeholders. In order to do that, you’ll want to have an outline and then fill in each section. That’s where the free business case template for Word comes in—it does it for you.

Elements of Our Business Case Template

Our free business case template lays out all of the areas you’ll need to paint a full picture of the project, its objective, benefits and risks. This picture should be realistic while simultaneously proving the feasibility of the project from the point of view of investment. Our free business case template for Word is broken up into the following categories.

Executive Summary

This is at the top of our template. It’s the elevator pitch, in a sense, as it is a short roundup of all the sections that follow in the free business case template. This will provide your stakeholders with a way to get the gist of the whole document at a glance.

Mission Statement

It doesn’t hurt to have a mission statement , which is different from the above summary. It is a place to define the project’s objectives, purpose and goals. The mission statement is like the North Star in that it will help lead the team as well as help stakeholders understand the project more fully. If the project moves forward, there will be changes along the way and the mission statement will make sure that as you adjust your project plan you always keep the reason for the project in the crosshairs.

Product or Service

In this section, you’ll describe the product or service that is the final deliverable of the project. More than just a description, however, it should explain how it will be competitive, what niche it’s filling, the problem it’s addressing or the need it’s filling.

Project Definition

Here, you’re going to discuss the project itself, such as what its business objectives are and how you’ll achieve them with the project plan outline . This includes the project scope, such as the tasks and deliverables of the project that will allow you to reach your business objectives.

Project Organization

With this section, you’ll get into the style of coordination, communication and management you’ll use in the project. There are four basic project organizations: functional, which is a traditional structure with departments and managers who report to an executive; project, with divisions that focus on a specific project; organic, where the project follows a natural progression that is more flexible; and matrix, which is part function and part project-based.

Financial Appraisal

This is the dollar and cents part, so it’s extra-important as most businesses focus on the bottom line. You’ll need to show the costs of the project, which is the budget estimation , including how much all of the tasks and resources will be, and why that cost is less than the benefits that the project will deliver to the business. This comparison can be done with a sensitivity analysis and cost-benefit analysis.

Market Assessment

Whatever your product or service and however successful you say it will be, you must back up those claims with market research. This means looking at the market you plan to deliver your product or service, defining it, showing the competition and its percentage of that market, plus how you can reach an unserved segment of the market or answer a need that hasn’t yet been served. Not only the opportunities that you see in the market, but you need to also outline any threats to your product or service.

Market Strategy

Once you have done your market research it’s time to develop a strategy to take advantage of the opportunities you see there and avoid the threats. Describe what your distribution channel will be and what you think is a competitive price point for the product or service. Profile your target audience and how you’ll reach these customers and other aspects of your marketing plan.

Risk Assessment

No project is without risk. The best way to prepare for this unknown inevitable is by making a risk assessment of the project. Where are the weak points? Identify potential issues that might arise over the life cycle of the project and develop plans to mitigate or take advantage of these risks, as there are both negative and positive risks in a project.

How ProjectManager Helps Turn a Business Case Into a Project

ProjectManager is project management software that helps you turn a business case into a project. We have the tools you need to plan better and monitor your execution so you deliver your project on time and within budget. A business case is what convinces your stakeholders that the project is worthwhile.

Create Detailed Plans on Robust Gantt

The project plan is how you’re going to get from the idea to the reality. Now that you’ve outlined that path in your business case, use our interactive Gantt chart to stay organized. You can organize tasks, link dependencies to avoid bottlenecks and set milestones to track progress. Our tool goes even further by allowing you to filter for the critical path without time-consuming calculations. Once you set the baseline, you can then generate variance reports to see if your actual progress is aligned with your planned progress.

ProjectManager's Gantt chart

Monitor Progress and Performance With Real-Time Dashboards

In order to meet the expectations set by your business case and keep your stakeholders updated, you need to have an eye on your project to see things as they happen. Our real-time dashboard automatically collects and calculates six project metrics and displays them in colorful graphs that are easy to digest. Unlike lightweight tools, there’s no setup required. We also have real-time reports that dive deeper into the data, which can be filtered to show only what you want to see and shared with stakeholders to manage their expectations.

dashboard showing project metrics in real-time

Other Templates to Help Build a Business Case

The business case template is a powerful tool to win over your stakeholders. ProjectManager is not the software that will make the business case a reality. But we’re also an online hub for all things project management, including dozens of free project management templates you can download as you’re building your business case. Here are a few.

Executive Summary Template

Part of any business case is the executive summary. If you need help composing this overview, our free executive summary template for Word is what you should download. It’s all here, everything you’ll need to collect the main points and write a powerful and direct executive summary to sway your stakeholders.

SWOT Analysis Template

When developing a strategic plan for your business case, our free SWOT analysis template for Word helps you map the internal and external factors of influence. SWOT stands for strengths, weaknesses, opportunities and threats. This free template download can help you see your project in a bigger context.

Estimate Template

Another important part of a business case is the financial appraisal. What you need is to make an accurate forecast of your project’s costs. Our free estimate template for Excel helps you identify all the project costs related to labor, materials and more to show your stakeholders why their investment is going to give them a greater return.

Related Content

ProjectManager is also a great place to read about project management. We publish multiple blogs a week and have hundreds of tutorial videos, guidebooks, white papers and much more. These assets cover every aspect of managing a project, from initiation to close. Here are some related to making a business case.

  • 15 Free Word & Excel Templates for Business
  • How to Write a Business Case
  • Cost-Benefit Analysis for Projects: A Step-by-Step Guide
  • What Is a Project Plan? The Ultimate Guide to Project Planning

ProjectManager is award-winning software that organizes work, monitors progress and reports on performance to keep you productive. Whether you’re managing one project or a program or a portfolio of projects, we have the tools that connect teams across departments or the country. Real-time data helps you make more insightful decisions. Join teams at NASA, Siemens and Nestle who use our tool to deliver success. Get started with ProjectManager today for free.

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Medical Clinic Business Plan PDF Example

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  • February 19, 2024
  • Business Plan

The business plan template for a medical clinic

Creating a comprehensive business plan is crucial for launching and running a successful medical clinic. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your medical clinic’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a medical clinic business plan but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the healthcare industry, this guide, complete with a business plan example, lays the groundwork for turning your medical clinic concept into reality. Let’s dive in!

Our medical clinic business plan is carefully designed to cover all the important parts needed for a good strategy. It explains how the clinic will run, how we’ll take care of patients, how we’ll tell people about our services, what the healthcare situation is like, who our competitors are, who’s in charge, and how much money we expect to make.

  • Executive Summary: Provides an overview of the Medical Clinic’s business concept, healthcare market analysis, management structure, and financial strategy.
  • Facility & Location: Describes the clinic’s physical setup, including its architectural design, medical equipment, patient amenities, and the strategic choice of its location to maximize accessibility for its target patient base.
  • Treatments & Pricing: Enumerates the healthcare services the clinic will provide, from general medical consultations to specialized treatments, alongside a transparent pricing model.
  • Key Stats: Shares industry size, growth trends, and relevant statistics for the healthcare market.
  • Key Trends : Highlights recent trends affecting the healthcare sector, such as technological advancements, patient care innovations, and regulatory changes.
  • Key Competitors : Analyzes the main competitors in the vicinity and differentiates the clinic based on services, patient care quality, and operational efficiency.
  • SWOT: Strengths, weaknesses, opportunities, and threats analysis tailored to the healthcare context.
  • Marketing Plan : Strategies for attracting and retaining patients, including digital marketing, community health programs, and patient service excellence.
  • Timeline : Key milestones and objectives from the clinic’s establishment through the first year of operation, including licensing, staff recruitment, and service launch.
  • Management: Information on the healthcare professionals managing the medical clinic and their roles, emphasizing their medical expertise and healthcare management experience.
  • Financial Plan: Projects the clinic’s 5-year financial performance, including revenue from medical services, operational costs, profits, and expected expenses, ensuring a sustainable and profitable healthcare service model.

The business plan template for a medical clinic

Medical Clinic Business Plan

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces our medical clinic’s business plan, offering a concise overview of the clinic and its healthcare services. It details our market positioning, the comprehensive medical services we provide, its location, size, and an outline of our day-to-day operations. 

This section will also delve into how our clinic will integrate into the local healthcare market, including an assessment of the direct competitors in the area, identifying who they are, and highlighting our clinic’s unique selling points that set us apart. 

Additionally, it includes information about our management and co-founding team, outlining their roles and contributions to the clinic’s success. A summary of our financial projections, including expected revenue and profits over the next five years, will also be presented to offer a clear view of our clinic’s financial outlook.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Medical Clinic Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a medical clinic, the Business Overview section can be concisely structured into 2 main components:

Facility & Location

Briefly describe the clinic’s facilities, highlighting the state-of-the-art medical equipment, patient-centric design, and a welcoming atmosphere that ensures comfort and privacy.

Mention the clinic’s strategic location, emphasizing its accessibility and conveniences such as proximity to main transit routes and ample parking. Explain how this location was selected to serve the clinic’s target patient demographics effectively.

Treatments & Pricing

Detail the comprehensive range of medical services provided, from routine health check-ups to specialized treatments in areas like cardiology, pediatrics, or orthopedics.

Describe your pricing model, ensuring it mirrors the high standard of care offered and is competitive within the healthcare market. Highlight any health plans, membership options, or loyalty programs designed to offer added value to patients, fostering long-term relationships and patient loyalty.

Make sure to cover here _ Clinic & Location _ Treatments & Pricing

business case plan example

Market Overview

Industry size & growth.

Start your medical clinic business plan by looking at how big the healthcare world is, especially for the services you provide like general health, special treatments (skincare, children’s health), or quick care. Think about how this area is growing and where you might find new chances to grow.

Key market trends

Then, talk about what’s new in healthcare, like how people want care that’s just for them, using tech to help patients (like video doctor visits or digital health records), and focusing on keeping people healthy before they get sick. Point out that people are looking for services that meet their specific health needs and that there’s a growing interest in clinics that care for the whole person.

Key competitors

Lastly, look at who you’re up against, which could be big hospitals, small clinics that focus on one area of health, or even online health services. Think about what makes your clinic different and better, maybe because of the great care you give, the wide range of services you have, or new ways you’re bringing health care to people. This part should clearly say why people need medical services, who else is providing them, and how your clinic can stand out and do well in this busy world.

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Medical Clinic Business Plan market overview1

Dive deeper into Key competitors

First, conduct a SWOT analysis for the medical clinic , identifying Strengths such as a team of expert medical professionals and a comprehensive suite of healthcare services. Weaknesses might include factors like high operational costs and the complexity of insurance processes. Opportunities can arise from the growing emphasis on health and wellness and the potential for telemedicine services. Threats could stem from increased competition and the impact of economic downturns on discretionary healthcare spending.

Marketing Plan

Next, develop a marketing strategy aimed at attracting and retaining patients. This strategy should focus on targeted advertising to reach specific demographics, offering promotional incentives for referrals, maintaining an active and engaging presence on social media, and fostering community ties through health education and events.

Finally, create a detailed timeline that marks essential milestones for the clinic. This includes the initial setup and opening phase, followed by the launch of marketing initiatives, efforts to expand the patient base, and strategies for broader service offerings, all designed to ensure the clinic progresses with a clear and defined purpose.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Medical Clinic Business Plan strategy 1

Dive deeper into SWOT

Dive deeper into Marketing Plan

The management section focuses on the medical clinic’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the medical clinic toward its financial and operational goals.

For your medical clinic business plan, list the core team members, their specific responsibilities, and how their expertise supports the medical clinic’s mission.

Medical Clinic Business Plan management 1

Financial Plan

The Financial Plan section is a comprehensive analysis of the medical clinic’s financial strategy, including projections for revenue, expenses, and profitability. It lays out the clinic’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your medical clinic business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your main assumptions (e.g. prices, customers, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Medical Clinic Business Plan financial plan 1

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COMMENTS

  1. How to Write a Business Case (Template Included)

    Step 1: Identify the Business Problem Projects aren't created for projects' sake. They should always be aligned with business goals. Usually, they're initiated to solve a specific business problem or create a business opportunity. You should "Lead with the need."

  2. How to Write a Business Case: Template & Examples

    Learn how to write a business case in 4 easy steps, with helpful examples & business case templates included. Click to learn & discover how-to.

  3. The beginner's guide to writing an effective business case

    Julia Martins October 5th, 2022 8 min read Jump to section Nearly every project needs to be approved—whether that means getting the simple go-ahead from your team or gaining the support of an executive stakeholder. You may be familiar with using a project plan or project charter to propose a new initiative and get the green light for a project.

  4. How to Write a Business Case (with Examples & Template to Help)

    A projection of financial needs. Explain how much money you need and exactly how it will be used. This is one of the most important parts of the business case. A strong recommendation. Explain the project you've chosen to pursue and why you think this is the best solution. You should also address the risks for this recommendation.

  5. Free Business Case Templates

    In this article, you'll learn what to include when you create your own business case, and find the ready-made, downloadable business case templates in Word and PowerPoint formats, like a one-page business case template, a construction business case template, and more. One-Page Business Case Template ‌ Download Template in Word

  6. How to Write a Business Case

    Operations management How to Write a Business Case: Examples, Templates, and Checklists Get free Smartsheet templates By Joe Weller | April 24, 2019 (updated February 26, 2023) This article presents expert tips on how to write a business case.

  7. What is a business case and how to write one (with template)

    1. Identify the business need 2. Explore all possible solutions 3. Propose the best approach 4. Outline the implementation process What is included in a business case? Business case template Summary

  8. How to Write a Business Case (With Example)

    But let's get specific: developing a business case is easier when you have a template to look at. Let's build an example using a made-up company, ABC Widgets, and a hypothetical business case. Let's call our business case example "Operation Super Widgets": Briefly describe the problem and the opportunities.

  9. How to Write a Business Case (+ Template & Examples)

    How to Write a Business Case (+ Template & Examples) Hady ElHady Feb 11 2023 Table of contents A business case is a document that outlines a proposed project or initiative, detailing the problem it aims to solve, its benefits and costs, and an implementation plan.

  10. The Plain English Guide to Writing a Business Case

    A business case doesn't need to be an entire business plan for a new product. Sometimes it will be less formal due to the size of the project. Either way, you want to make a strong case for your project, so it should be easy to understand and implement. Now, let's look at an example of what a business case might look like. Business Case Example

  11. How to write a business case (+ free template included)

    How to complete a business case in 3 steps. Step #1: Do your research. Step #2: Write incrementally. Step #3: Present your business case. The Five Case Model for developing a business case. POV #1: The strategic case. POV #2: The economic case. POV #3: The commercial case. POV #4: The financial case.

  12. How To Write a Business Case

    Free business case template: Use this to kickstart your next project. How to create a business case: The 7-step guide. Step 1: Gather input on your idea from stakeholders. Step 2: Define the business opportunities or problems. Step 3: Analyze and prioritize options. Step 4: Develop your implementation strategy.

  13. How to Write a Business Case

    The goal of a business case is to convey the objectives and execution of a project. These are four major steps involved in creating a concise and accurate business case: Define and identify the business problem. Identify the alternative solutions. Recommend a preferred solution. Describe the project organizations.

  14. How to write a business case: Tips, resources and examples

    14th February 2020 Categories In business, resources are finite, and opportunities come at a cost. In pursuing profit and growth, organisations continually ask themselves several questions: What projects should we invest in? What products or services should we offer? How do we best utilise resources?

  15. Business Case Examples for Every Industry

    As you can see from the table of contents displayed below, this particular example has everything: a preface, introduction, executive summary, and analysis . The hypothetical presenter of this business case has performed a risk analysis and provided professional recommendations. They've thoroughly gone through the benefits and constraints.

  16. How To Write a Concise Business Case (With Template)

    1. Identify the problem you're solving Your business case can begin with a clear problem that the company needs to solve. Highlight the risks or costs the problem is causing or has already caused. Be sure to justify the need for a solution. Related: 6 Challenges Most Businesses Face 2. Explore alternative solutions

  17. What Is a Business Case? Definition and Examples

    For example, a business case for starting an influencer program at a media company would discuss social media's rise in popularity and how influencers can benefit companies. ... A business case and a business plan cover many of the same topics, but there is a significant difference between the two. A business case is about a singular project ...

  18. Business Case: Definition, Example, and Template

    A business case is a phase gate that determines whether a project will continue to the next phase, be terminated, or be modified. Stakeholders measure the project's success in terms of cost, scope, time, and delivering the intended value. A business case connects the project with its value or benefits. Today's blog post will discuss the ...

  19. How to Write a Business Case: 11 Steps (with Pictures)

    Get the approval of those requiring the report before continuing. 2. Create a proposed solutions statement. Express the projects and options proposed by the group as a solution to the business problem, goal or issue. Explain in detail how the proposed change/plan addresses and resolves the problem, issue or goal.

  20. How to Write a Great Business Case

    6 QUALITIES OF GREAT CASE WRITERS. Curiosity. Comfort with ambiguity, since cases may have more than one "right" answer. Command of the topic or subject at hand. Ability to relate to the case protagonists. Enthusiasm for the case teaching method. Capacity for finding the drama in a business situation and making it feel personal to students.

  21. How to Write a Business Case for New Software [Includes Free Template]

    Step 1: Build the pieces of your business case. When constructing a business case for new software, it's important to lay out the full scope of the project so leadership can feel confident that you've considered the full impact of your proposal. This is especially important when asking for the amount of money the new software will require ...

  22. Business Case Template for Word (Free Download)

    Get your free Business Case Template Use this free Business Case Template for Word to manage your projects better. Download Word File A business case template is a document that helps sell your project. It collects the main points of a project and delivers them in a clear and concise manner.

  23. Write your business plan

    Executive summary. Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

  24. Medical Clinic Business Plan PDF Example

    Business Overview. For a medical clinic, the Business Overview section can be concisely structured into 2 main components: Facility & Location. Briefly describe the clinic's facilities, highlighting the state-of-the-art medical equipment, patient-centric design, and a welcoming atmosphere that ensures comfort and privacy.

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    Donald Trump's planned appeal of a $355 million judgment against him in his civil fraud case may focus on the former president's contention that there were no actual victims from his conduct at ...