A business case is a proposal for a project, strategy or course of action. It can be considered a pitch that gives stakeholders the information they need to make a decision to invest in a project. The following is content that is commonly included.
Problem StatementThe background of the project framed as a problem statement. Explains why the project is proposed.
Financial AnalysisA budget proposal and an analysis of return on investment, payback period and other financial projections.
Success CriteriaHow the project will be deemed a success or failure.
AlternativesAlternatives to the project including detail around what happens if you do nothing. Consider the opportunity costs of the proposal.
ApproachHigh level requirements that define what is to be done.
Assumptions & ConstraintsState all assumptions and constraints upon which your analysis is based no matter how obvious they may seem. Anticipate the wants and needs of stakeholders and explicitly state what is out of scope of your analysis.
RisksIdentify potential negative outcomes that will impact your proposal or the project.
RecommendationsSuggest a way forward including milestone dates.
This is the complete list of articles we have written about project management.
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