A business case capture, also known as a business case is a record of the details of a specific project, idea or goal. It typically outlines the reasons for starting a project or task and the steps that will be required to carry it out. In business case studies, a business case is usually presented in an organized written format, but can also come in the handy of an oral presentation or verbal arrangement. There are many advantages of creating a business case, one of which is its ability to provide structure to a project. This allows a team of people to organize and present the information that they need to make a decision about a certain project.
Another benefit of a business case is providing a clear road map for the business change management consultant to follow during the project. The purpose of such a document is not only to provide information for the stakeholders, but it can also help to guide the consultant as he or she begins the project. By providing a logical chain of events and showing how the benefits of the project will be received by the stakeholders, the business case can help the leader or committee understand what the priorities should be for a given new project.
However, a good business case must also illustrate some of the most important risks associated with a given project. By highlighting these risks, the business case provides a clearer picture of the potential problems that may occur. Unfortunately, this can also make it more difficult for the project manager to identify or control risks. Therefore, when formulating a business case, the manager must consider the possibility of risks that he or she may not have considered beforehand. This can make the difference between successful project management and failure.
Another way to use a business case is to ensure that e.g goals or procedures are realistic and achievable. The purpose of such documents is to provide a realistic description of the business process and the methods and means involved, along with providing a range of potential outcomes, including those that may not be immediately obvious. However, the overall impact of the document is to highlight the risks and other factors that may influence project success, so that the organisation can assess its options and develop a strategy that takes these factors into account. For example, there may be a range of factors, such as the quality of suppliers or the ability to build an infrastructure, that cannot be ignored. When these issues are included in the business case, it makes it much easier for the organisation to identify gaps in its operations that it could overcome and therefore improve its ability to deliver projects.
Finally, a business case can prove useful for ensuring that a set of aims and values is included in the organisation’s strategic plans. Often, only through a set of plans can senior management see the long term benefits that will result from their actions. A clear and concise statement of how these benefits will be achieved by a certain date, using both quantitative and qualitative metrics, can help project teams to focus their attention and reduce the number of timescales included within project estimates. The same is also true when it comes to short term plans, where only the immediate effects of a change can be measured and reviewed.
Importantly, a business case is useful not just because it identifies all the risks and other factors that may affect a project outcome, but because it shows how those risks are associated with the investment needed to bring about those benefits. This provides the opportunity to present the organisation with a clear picture of what it will need to do to maximise its gains and minimise the potential negative impact on its business. By drawing on experiences of others in similar situations, it can also show the ways in which the same risk can be addressed in different ways. This in turn leads to a discussion of the ways in which investment might be best managed and how this can help to optimise the returns.