- Blog Categories
- Project Management
- Agile Management
- IT Service Management
- Cloud Computing
- Business Management
- Business Intelligence
- Quality Engineer
- Cyber Security
- Career
- Big Data
- Programming
- Most Popular Blogs
- PMP Exam Schedule for 2024: Check PMP Exam Date
- Top 60+ PMP Exam Questions and Answers for 2024
- PMP Cheat Sheet and PMP Formulas To Use in 2024
- What is PMP Process? A Complete List of 49 Processes of PMP
- Top 15+ Project Management Case Studies with Examples 2024
- Top Picks by Authors
- Top 170 Project Management Research Topics
- What is Effective Communication: Definition
- How to Create a Project Plan in Excel in 2024?
- PMP Certification Exam Eligibility in 2024 [A Complete Checklist]
- PMP Certification Fees - All Aspects of PMP Certification Fee
- Most Popular Blogs
- CSM vs PSM: Which Certification to Choose in 2024?
- How Much Does Scrum Master Certification Cost in 2024?
- CSPO vs PSPO Certification: What to Choose in 2024?
- 8 Best Scrum Master Certifications to Pursue in 2024
- Safe Agilist Exam: A Complete Study Guide 2024
- Top Picks by Authors
- SAFe vs Agile: Difference Between Scaled Agile and Agile
- Top 21 Scrum Best Practices for Efficient Agile Workflow
- 30 User Story Examples and Templates to Use in 2024
- State of Agile: Things You Need to Know
- Top 24 Career Benefits of a Certifed Scrum Master
- Most Popular Blogs
- ITIL Certification Cost in 2024 [Exam Fee & Other Expenses]
- Top 17 Required Skills for System Administrator in 2024
- How Effective Is Itil Certification for a Job Switch?
- IT Service Management (ITSM) Role and Responsibilities
- Top 25 Service Based Companies in India in 2024
- Top Picks by Authors
- What is Escalation Matrix & How Does It Work? [Types, Process]
- ITIL Service Operation: Phases, Functions, Best Practices
- 10 Best Facility Management Software in 2024
- What is Service Request Management in ITIL? Example, Steps, Tips
- An Introduction To ITIL® Exam
- Most Popular Blogs
- A Complete AWS Cheat Sheet: Important Topics Covered
- Top AWS Solution Architect Projects in 2024
- 15 Best Azure Certifications 2024: Which one to Choose?
- Top 22 Cloud Computing Project Ideas in 2024 [Source Code]
- How to Become an Azure Data Engineer? 2024 Roadmap
- Top Picks by Authors
- Top 40 IoT Project Ideas and Topics in 2024 [Source Code]
- The Future of AWS: Top Trends & Predictions in 2024
- AWS Solutions Architect vs AWS Developer [Key Differences]
- Top 20 Azure Data Engineering Projects in 2024 [Source Code]
- 25 Best Cloud Computing Tools in 2024
- Most Popular Blogs
- Company Analysis Report: Examples, Templates, Components
- 400 Trending Business Management Research Topics
- Business Analysis Body of Knowledge (BABOK): Guide
- ECBA Certification: Is it Worth it?
- How to Become Business Analyst in 2024? Step-by-Step
- Top Picks by Authors
- Top 20 Business Analytics Project in 2024 [With Source Code]
- ECBA Certification Cost Across Countries
- Top 9 Free Business Requirements Document (BRD) Templates
- Business Analyst Job Description in 2024 [Key Responsibility]
- Business Analysis Framework: Elements, Process, Techniques
- Most Popular Blogs
- Best Career options after BA [2024]
- Top Career Options after BCom to Know in 2024
- Top 10 Power Bi Books of 2024 [Beginners to Experienced]
- Power BI Skills in Demand: How to Stand Out in the Job Market
- Top 15 Power BI Project Ideas
- Top Picks by Authors
- 10 Limitations of Power BI: You Must Know in 2024
- Top 45 Career Options After BBA in 2024 [With Salary]
- Top Power BI Dashboard Templates of 2024
- What is Power BI Used For - Practical Applications Of Power BI
- SSRS Vs Power BI - What are the Key Differences?
- Most Popular Blogs
- Data Collection Plan For Six Sigma: How to Create One?
- Quality Engineer Resume for 2024 [Examples + Tips]
- 20 Best Quality Management Certifications That Pay Well in 2024
- Six Sigma in Operations Management [A Brief Introduction]
- Top Picks by Authors
- Six Sigma Green Belt vs PMP: What's the Difference
- Quality Management: Definition, Importance, Components
- Adding Green Belt Certifications to Your Resume
- Six Sigma Green Belt in Healthcare: Concepts, Benefits and Examples
- Most Popular Blogs
- Latest CISSP Exam Dumps of 2024 [Free CISSP Dumps]
- CISSP vs Security+ Certifications: Which is Best in 2024?
- Best CISSP Study Guides for 2024 + CISSP Study Plan
- How to Become an Ethical Hacker in 2024?
- Top Picks by Authors
- CISSP vs Master's Degree: Which One to Choose in 2024?
- CISSP Endorsement Process: Requirements & Example
- OSCP vs CISSP | Top Cybersecurity Certifications
- How to Pass the CISSP Exam on Your 1st Attempt in 2024?
- Most Popular Blogs
- Best Career options after BA [2024]
- Top Picks by Authors
- Top Career Options & Courses After 12th Commerce in 2024
- Recommended Blogs
- 30 Best Answers for Your 'Reason for Job Change' in 2024
- Recommended Blogs
- Time Management Skills: How it Affects your Career
- Most Popular Blogs
- Top 28 Big Data Companies to Know in 2024
- Top Picks by Authors
- Top Big Data Tools You Need to Know in 2024
- Most Popular Blogs
- Web Development Using PHP And MySQL
- Top Picks by Authors
- Top 30 Software Engineering Projects in 2024 [Source Code]
- More
- Agile & PMP Practice Tests
- Agile Testing
- Agile Scrum Practice Exam
- CAPM Practice Test
- PRINCE2 Foundation Exam
- PMP Practice Exam
- Cloud Related Practice Test
- Azure Infrastructure Solutions
- AWS Solutions Architect
- AWS Developer Associate
- IT Related Pratice Test
- ITIL Practice Test
- Devops Practice Test
- TOGAF® Practice Test
- Other Practice Test
- Oracle Primavera P6 V8
- MS Project Practice Test
- Project Management & Agile
- Project Management Interview Questions
- Release Train Engineer Interview Questions
- Agile Coach Interview Questions
- Scrum Interview Questions
- IT Project Manager Interview Questions
- Cloud & Data
- Azure Databricks Interview Questions
- AWS architect Interview Questions
- Cloud Computing Interview Questions
- AWS Interview Questions
- Kubernetes Interview Questions
- Web Development
- CSS3 Free Course with Certificates
- Basics of Spring Core and MVC
- Javascript Free Course with Certificate
- React Free Course with Certificate
- Node JS Free Certification Course
- Data Science
- Python Machine Learning Course
- Python for Data Science Free Course
- NLP Free Course with Certificate
- Data Analysis Using SQL
Five Steps To Write A Competent Business Case
Updated on 20 October, 2016
8.16K+ views
• 4 min read
Project management is a vital process, and if not curated properly and efficiently, it is bound to cause havoc. There are several places where projects fail. If we study the reasons behind the failure of a project we shall find that a weak business case is one among many factors. A strong and competent business case is all that you need to reap a successful project.
We will have a discussion here on how to write a good business case that will help you stand out from the crowd. A business case requires a proper framework at the early stages of project designing and overlooking any of the salient points might just wreck your entire project.
A business case basically outlines the basic features of a project and figures out whether continuing the project is worthwhile or not. It should be developed step by step so that no resources are wasted during implementation.
Before we start with the business case, a thorough and detailed study of the various key points of the project like – the problems faced by the business, opportunities visible in the near future, risks involved, business case tips, costs likely to be incurred and so on should be made.
Let us have a look on the basic steps of writing a competent business case.
The project definition
This is the very first step as well as the biggest one and is directed to the project sponsors, stakeholders, and the project team. It is important to understand what the project deals with. It is essential for all those who create a business case to know the why-what-how of the entire project.
It basically includes the business objective that defines the goal of this project, the limitations and benefits that the project is endowed with and identifying the prospective solutions.
Studying the process
For writing a business case, the methodology is very crucial. The purpose of a business case is to effectively communicate, so the following points should be kept in mind while:
• It should be precise, simple and understandable and should contain only the bare essentials
• It should not contain special terms or jargons and use of abbreviations should be reduced to a minimum level
• It should contain the list of salient features and advantages that the business will exhibit during and upon completion of the project
The project organisation
This is a very interesting step and envisages how the project is set up. It basically outlines the various levels of decision-making and describes how the project is structured. There should be a system to record the progress of the project based on the performance and the project manager should update it regularly.
Assessment
This step includes the assessment of the market, the risks and opportunities involved. The market assessment includes various ways in which the market, where the business is carried out, are analysed, whereas risk assessment involves the potential risks underlying the project and how they can be solved. It also aims at identifying the opportunities available in the market and ways to utilise them in the most effective manner for the benefit of the project.
Managing the business-case
Lastly, after the business case is formulated, it requires efficient management. It should be circulated among the employees to serve as a reference. It should be reviewed and updated frequently, especially when a new stage is about to begin. It should be evaluated to make sure that there is no unnecessary wastage of time and money behind unrealistic plans.