How to write a business caseSelect your preferred training course below:

BCS AI COURSES office to help it decide which projects will contribute to the organisation’s strategic goals. That way, they can filter out the bad ideas for projects, and only fund projects which will contribute to strategic goals.Select your preferred training course below:

A business case is also often used by a project sponsor or project executive to help it decide if they should invest in a specific project.

In all cases, the business case must be written and approved prior to any major commitment of resources.AIPGF COURSES

What form does a business case take?Select your preferred training course below:

Business cases can take many forms – digital or analogue. The tools you use to create one are also many and varied. Common business tools such as Microsoft Office might be used. Rather than being a document or slide deck however, it could equally be in the form of an email.

Equally, a business case could be written by hand on a whiteboard or flipchart, or on the back of a cigarette packet!AI WORKSHOPS

What you should always remember is that a business case does not have to be a huge long document. In fact, it should be as short as possible, and only include the most important information. That way it cuts out the noise and provides decision-makers with just the right information to enable them to take sensible decisions.Select your preferred workshop below:

For those of you interested in project managementKnowledge Train is a PRINCE2 Accredited Training Organization., the project management methodology known as PRINCE2Knowledge Train is an AgilePM Accredited Training Organization. focuses its decision-making on a project on having a viable business case.

Business case examplesKnowledge Train is a PRINCE2 Agile Accredited Training Organization.

We will now give you 2 business case examples. The first example is one which you might find useful for taking decisions in your personal life. The 2nd business case example is more business focused project.

Business case example 1: Moving homeKnowledge Train is a Better Business Cases Accredited Training Organization.

Suppose you and your spouse are considering moving to a new home. You will need to weigh up the pros and cons of moving. This is done using a business case. You might not call it that, but that’s what it is. Let’s look at an example.

ReasonKnowledge Train is a P3O Accredited Training Organization.

As you can see from the example, the first thing to be clear about in a business case is the reason for doing the project or activity. In this example, the couple has answered the question Why?Knowledge Train is an AgilePM Accredited Training Organization. In fact, there are two problems here – the local school and John’s long commute.

Options consideredKnowledge Train is a PRINCE2 Agile Accredited Training Organization.

A business case should weigh up the competing options which have been considered. After all, there is usually more than one option. Perhaps an alternative option would have been for John to change his job to one nearer their current house. However, this wouldn’t solve the issue with the school.

BenefitsKnowledge Train is an Agile BA Accredited Training Organization.

The benefits of a project or activity are the positive things you’re going to get back in return for your investment of time and money. In this case, the kids will get a better education, and John will save time each day.

TimescalesBCS accredited training partner for Business Analysis.

It’s also important to understand how long the investment of resources will take. This is so that the organisation (or family in this case) knows when the resources will be freed up to work on other projectsKnowledge Train is an Agile BA Accredited Training Organization. or activities.

There are usually 2 timescales to consider. First, the timescale of the project or activity – in this case 3 months to find a new house and move there. Second, the time over which the benefits shall be realized. In this case it’s 5 years until the kids leave school.Knowledge Train is a Change Management Accredited Training Organization.

Costs

The costs of doing the project or activity is the next important bit of information. On this project, the costs of moving to a new house will be £5,000. These are the project costs.Knowledge Train is an MSP Accredited Training Organization.

However, the couple will spend an additional £2,000/year for every year over which the business case is calculated. For a project in an organisation, this is usually referred to as the operational costs of maintaining and operating the projects outputs e.g. an IT system. At this point, the couple knows the total costs over the timescales when the benefits shall be realized.

RisksKnowledge Train is a PRINCE2 Accredited Training Organization.

For any activity or project, it’s also important to understand the major risks involved. Risks are the uncertain things which may or may not happen during the period of the investment. There is only one risk identified here, which is the risk that the couple might lose touch with friends who live close to them right now.

Investment appraisalKnowledge Train is an AgilePM Accredited Training Organization.

The next section is where the costs and timescales and risks are weighed up. For this project, it’s a simple decision for the couple to decide if it’s worth spending money over the next 5 years to give their kids better schooling and to save John 2 hours a day commuting.

For an organisation to decide if an investment is worthwhile, however, there are several different ways in which it can decide about the investment.Knowledge Train is a PRINCE2 Agile Accredited Training Organization.

Often in organisations there are rules defined to help business analysts or project managersKnowledge Train is a Better Business Cases Accredited Training Organization.