What Documentation Should be Included in the Business Case?

The business case document is a written justification for why a specific project or investment should be pursued. It is prepared for senior management or stakeholders to secure funding or other resources for the project or investment opportunity.

When writing the business case document, the contents and the level of detail and analysis vary depending on the project size and risk, and how the organization approves business cases.

In our twenty years of experience developing business cases, the document typically includes:

1. Executive Summary: A brief overview of the project, including the problem or opportunity it addresses, the proposed solution, and the key benefits and costs.

2. Problem Statement: A clear and detailed description of the problem or opportunity that the project aims to address, including any relevant data or statistics.

3. Solution: A description of the proposed solution, including the key components, features, and benefits.

4. Benefits: A detailed list of the benefits that the project is expected to deliver, including any financial or non-financial benefits.

5. Costs: A detailed list of the costs associated with the project, including both one-time costs (such as capital expenses) and ongoing costs (such as ongoing expenses and staffing costs)

6. Timeline: A high-level project timeline that includes key milestones and delivery dates.

7. Risks: A list of the key risks associated with the project, including the potential impact of each risk and a plan for mitigating or addressing each risk.

8. Alternatives: A discussion of other potential solutions that were considered and why they were rejected.

9. Assumptions: A list of any assumptions that were made in developing the business case.

10. Appendices: Any additional documentation that supports the case, such as financial projections, market research, or resumes of key team members.

It's also important to keep in mind the audience the business case will be presented to, be it the executives, stakeholders or investors, and tailor the documentation to meet their needs and be able to communicate the benefits and costs in a clear and concise way.

Here is a set of proven business case templates if you need templates.

A well-prepared business case document can help your project stand out amongst the competing priorities within your organization and may be the key to getting approval and finances for the project.

The Business Case Document Template (Microsoft Word document 18 pages) is one of the resources in The 6 Essential Business Case Templates.

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Click here to get the 6 Essential Business Case Templates