A business case is a comprehensive outline outlining the critical steps and assumptions needed to successfully execute a business idea, product, or service. A business case captures the rationale for starting a project or activity. It may be presented in an organized written format, but can also come in the more simple form of an oral presentation or informal discussion. It is an important tool for business executives to effectively manage their businesses. The reason that a business case is so effective is because it not only identifies the hurdles to success, but identifies the potential benefits derived from the project as well. Many business executives do not realize the value of a well-developed business case, but that importance of the tool can not be overstated.
A business case presents a series of benefits and risks involved with implementing a business idea. The benefits and risks are identified by listing the anticipated benefits and risks of the project relative to the current conditions and goals of the organization. The benefits and risks are then weighed to determine whether the benefits are worth the risks.
Most entrepreneurs and management executives underestimate the value of a detailed and comprehensive business case. A business case is usually composed of three parts: a high-level description of the project, a detailed description of the process and activities leading up to the project, and a second high-level recommendation of the preferred option. In addition, the case may include recommendations for changes to organizational procedures, change management support, training, and resources. In all three parts, the high-level description serves to provide the key personnel, technology, and business skills needed to implement the recommended solution.
While most people focus on the application, a business case actually helps companies to better understand the business case and its application in real world circumstances. For example, consider an organization that is developing a new web application. The web application is designed for internal use, but it needs to be deployed across multiple departments, and the employees need to understand the risks associated with deploying the application across the organisation. By creating a detailed description of the application, including a risk management process for deployment, the company can focus on the development activities, which will lead to long-term benefits rather than short-term problems, and ultimately achieve the desired business outcome.
While the initial step of any business case is creation, the next step is analysis. Once the business case has been created and analysis completed, it is important to review the report and make any necessary modifications. The final step is to implement any recommendations contained within the business case. This is why it is so important to complete an ISO Certified Business Analyst course as it provides the necessary knowledge to complete this important document.
One of the main reasons why completing an ISO Certified Business Analyst course is necessary for entrepreneurs seeking certification is because this final step is where the students can demonstrate their knowledge and skill to other potential employers. The ability to create a business case and analyse it effectively will help entrepreneurs stand out from the crowd of candidates applying for an executive summary role within their organisation. The ability to gather information from a variety of sources and put together a comprehensive picture of the prospective project will also impress potential supervisors and executives. It will demonstrate the applicant’s ability to think outside the box and how they can utilise information to make informed decisions. Furthermore, the ability to organise and write a report in a structured manner, as well as follow an effective methodology, will also impress any future employers.