What Is a Business Case Template?
A business case is created before a project is ever initiated. It provides the information necessary to determine whether a project is worth the required investment. It does so by presenting the business need and a cost-benefit analysis.
Assume a managed services company regularly receives requests to provide custom software development. In this situation, they have three choices: 1) do not accept the opportunities and explain that they do not provide software development, 2) accept the opportunities and contract with a software development professional, or 3) accept the opportunities and hire a software developer.
Here, a business case could be developed to illustrate the return on investment for each choice. The business case will also present the benefits and risks associated with each one. Its primary purpose is to consider the options then make a compelling argument for selecting and implementing one of them. Use this business case template as a guide for exploring the various options.
Who Creates the Business Case?
For internal projects, the business case can be written by the person considering the project. If the organizations has a project management office, that responsibility may fall on an internal project or program manager. For external projects, the business case is written by the requesting organization.
What Are the Inputs?
The business case may have a variety of inputs such as: market demands, organizational needs, customer requests, and legal requirements. For example, a customer survey may become an input to a business case that seeks to determine whether a proprietary software application should be updated to new technology.
How Is It Used?
A business case template is a tool that assists in the development of a well-considered business case. The business case is used as an assessment tool. It's primary purpose is to provide the information necessary to determine whether or not a project is justified.
Make Work Easier
Looking for a better solution? Consider getting The Practitioner’s Book of Project Management Templates. It contains a set of 86 editable project management templates. We think it helps eliminate gaps in project planning. By the way, it includes an updated Business Case Template template.