A business case is a project management document that explains how the benefits of a project outweigh its costs and why it should be executed. Business cases are prepared during the project initiation phase and their purpose is to include all the project’s objectives, costs and benefits to convince stakeholders of its value.
A business case is an important project document to prove to your client, customer or stakeholder that the project proposal you’re pitching is a sound investment. Below, we illustrate the steps to writing one that will sway them.
The need for a business case is that it collects the financial appraisal, proposal, strategy and marketing plan in one document and offers a full look at how the project will benefit the organization. Once your business case is approved by the project stakeholders, you can begin the project planning phase.
When Should You Write a Business Case?
Around 70 percentof businesses that survive longer than five years …