A business case captures a company’s thought process on why, how and when they will perform a certain activity or project. Often, it is presented in a well structured written document, however can also come from a simple verbal discussion or presentation. The reason why a business case is important to have is because it is very similar to a legal brief. Both are written documents that explain information that a company or organization has in order to make an intelligent and well informed decision on whether or not a certain action would be beneficial to them or their industry. This decision could have broad effects on a company’s future growth, financial status and operations.
Before writing a business case or undertaking a particular project, companies or organizations should always set aside an appropriate amount of time to analyze the needs of the project and the market. They should also spend time thinking about what steps will be necessary to make the project successful. It is best that the business case or project plan be written with the help of a seasoned business writing services firm who have extensive experience in preparing and editing business case and other documentation related to projects. If you find yourself in this situation, there are several things that you should keep in mind. Below are some tips that you should consider so as to make your task of writing a business case easier.
First thing to do is to write a concise business objective. This objective will serve as the main focal point of your business case template. You should always focus on highlighting the benefits that the company will derive from a certain project. You should also take into consideration the identified challenges or obstacles that may be faced by the company during the execution of the project. Identifying the benefits is just as important as identifying the challenges and obstacles that need to be overcome in order for your company to reap the benefits that it deserves. Focus on highlighting the main benefits first before you discuss or elaborate on the other factors that are relevant to the project scope.
It is always good to focus on the tangible benefits rather than the intangible ones. Most of the times, a business case is prepared based on long-term strategies rather than on annual targets. If you want your organisation to be more successful, you should ensure that all the timecales are in place. This includes both the financial and non-financial benefits that the project will bring to the company.
The final section describes the risks that could be faced by the company during the course of the project. The risk section may include two or more risks that could affect the success of the project. The first risk is related to the management of the project. In this section, the following questions should be addressed: Is the project environment appropriate for the proposed activities? How would the project impact on the organisational structure, people and key resources?
The other risks should be addressed as follows: Are there sufficient staff and resources to deal with the change? Are there any issues related to communication or information technology that can affect the project? What are the timescales required and how can these be best managed? These questions are essential in making a good business case. A good reviewer will look for these answers before providing feedback. He will also consider other factors that could affect the project such as the risk management requirements.