The Business Case

13 January 2011

The purpose of a business case is so an idea can properly be presented to a group of stakeholders for their financial backing in the production of a deliverable. Because of the financial backing is at stake, this formal document must be accurate, informative and precise in its findings so there is no ambiguity in its content.

To help with the construction of this all important formal document, many managers are using a business case template to assist them. This type of management tool has several purposes. First it already has the formatting of the document in a professional manner so its presentation will be acceptable. The second contribute to the completeness of the document by it being a useful guide.

The business case template program is usually accompanied by real life examples so many of the common questions can be easily answered. This saves in time and prevents many mistakes that could cause your document and its idea from being rejected.

The contents of a business case are important to the reviewers of this document. Included in the beginning has to be a very descriptive explanation of the business opportunity that is being presented. In most situations there should be a primary and alternative path to approaching this business opportunity so the stakeholders will have a choice.

The business case should also include the benefits of what is being presented along with the cost of taking on this business opportunity. The identification of the major risks that are involved is important. This way if your proposal is approved, there will be no surprises during the execution phase of the project that has to be presented to the stakeholders if a risk is encountered.

The business case is also the document that the scope and goals of the project are to be clearly laid out. This document is the foundation on which all the plans of procedures will be based upon. The sounder and more complete it is, the better the rest of the supporting documents will be.

A business case is the formal document that gives a person the opportunity to present their ideas of business proposals and solutions to problems to the people that make the financial decisions within a company.