Knowing how to write a business case is an important skill for all business people. If they don’t have one, they need to find someone who has it. All the best business ideas in the world would be useless if they could not be put in writing. This written business plan will help you get the necessary approval and resources to make the idea a reality. Write the business in such a way that it attracts the interest of the “sponsors”. Basically, the case would be:
- Promote business ideas to others
- Explain why it can be successful
- Focus on reaping the expected benefits
- Get approval for funding.
Business Case Outline
- Why is a case being made for a particular project?
- What are the main features of the project?
- What are business issues and what are the solutions?
- How much is the financial investment?
- What is the duration of the project?
- Will there be implications for terms priorities and missed opportunities?
- What are some risk factors?
- How will performance or results be measured?
- What if the project is not started?
- What are the alternatives?
The other essential element
The business case will be a comprehensive multi-page document, which should include an executive summary. The summary will enable quick and general review of key selling points. The matter will then be based on an overall assessment and issue statement. This will be followed by the details of the project, the main solution and its details. It is best to identify alternative solutions. Cost-benefit analysis, timeline for implementation along with general results and recommendations will complete the written business transaction. For better effect, this may include critical risk assessment and evaluation. Furthermore, like a business plan, an analysis of strengths, weaknesses, opportunities and threats (SWOT) will be helpful. In addition to ensuring that key elements are included, the written business plan must be carefully proofread and revised. In this regard, in addition to business facts, special attention should be paid to spelling and grammar.