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The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.

Let’s now look at this example business case. Deny

Executive summary

This sample business case contains an executive summary. This section briefly describes the selected option and the key benefits it will bring. View preferences

Reasons

The reasons for the project are clearly spelled out when describing the 3 current problems which the company faces. Save preferences

Options

In this example, there are 2 options (other than do nothing) which have been examined. Each option is summarized and the reason why option 3 is the preferred option has been stated. View preferencesSelf-paced

Benefits {title}

The expected benefits of reduced overheads are clearly stated. Benefits should be measurable and quantifiable. That means that the benefits can be measured later. But what about the reduced errors, rescheduled appointments and customer contract cancellations? Aren’t they benefits? {title}

Well, these are in fact something else – they’re called outcomes. Outcomes are the results of the changes which come about by using the new handheld devices. The ways you measure the improvements resulting from these outcomes are known as benefits. {title}

Dis-benefits Manage Consent

This example also contains a dis-benefit which is that the back-office staff morale will be lower due to reduced overtime payments. A dis-benefit, if you’re wondering, is a negative consequence of a project. It’s not the same as a risk which implies something uncertain. A dis-benefit is something which you know will happen because of the project and it has negative consequences for the organisation. It’s the opposite of a benefit! PRINCE2 course (online or classroom)

TimescalesTo provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions. Choose from Foundation, Practitioner, or combined courses – accredited, exam-inclusive, and available online, in the classroom, or as flexible self-paced learning.

Just as we saw in the previous example, the business case contains 2 timescales – the project timescales (i.e. the time it will take to complete the project) and the benefits realization timescales (i.e. the time over which benefits are expected to be realized).

Costs

Again, there are 2 costs – project costs and the ongoing operational costs over the benefits realization timescale. When the decision is taken whether to invest in this project, the total costs (i.e. project costs and ongoing operational costs) are weighed against the expected benefits over the same time period.

Risks

One major risk has been identified in this example, but on your project, there could be many risks. Functional4.9/5 average rating

Investment appraisal

The final section is the investment appraisal. The investment technique used in this example is called net benefits. As you can see from the table, the project and operational costs are recorded for each year of the investment.

The project lasts 1 year which is why the project costs are zero after year 1. Of course, the benefits won’t be realized until the solution is in place and the company starts to use the handheld devices. PeopleCert accredited

The net benefits are simply the total benefits minus the total costs. This shows that the company will start to get a return on its investment sometime towards the end of year 2. This knowledge is vital if the decision-makers are to take a sensible decision about whether to invest in the project.

Business case FAQs There are two main PRINCE2 qualification levels -

Who approves a business case? Foundation

Usually on a project, the project sponsor (the person or people who are committing the funds) will approve a business case. Before approving it, they need to have confidence that the problems have been addressed and the right solution has been selected, that the benefits are achievable and realistic, when the investment will pay off, and how big will the return on investment be. and

What makes a good business case? Practitioner

As you have seen in this article, there’s several important bits of information which goes into a business case. Don’t spend unnecessary time though adding information which isn’t required. Your project sponsor will have to read your business case before they approve it, and you don’t want to make their job any harder than it already is! - plus a

There are several things you can use to check whether your business case is adequate or not. Here’s a checklist of 13 questions to ask yourself before you submit your business case to your sponsor for approval: Request a quote combined option

1. Are the reasons for the project consistent with the corporate, if you want to complete both in one go.portfolio The technical storage or access that is used exclusively for statistical purposes. or [email protected] Compare course optionsprogramme management The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.Globally recognised strategies? +44 (0)207 148 5985 Adopted by organisations worldwide and valued by employers.
2. Is the Courses Structured frameworkproject planPROJECT MANAGEMENT Provides clear roles, responsibilities, and processes for predictable project success. aligned with the business case? (e.g. are the costs and timescales in the project plan correctly reflected in the business case?)PRINCE2 Career-enhancing
3. Are the benefits clearly identified and justified?® Boosts your employability and credibility in project management roles.
4. Is it clear how the benefits will be realized?Foundation MarketingCompare PRINCE2 courses
5. Is it clearly defined what will judged a successful outcome?Learn the fundamentals of the PRINCE2 method. See the key differences between the Foundation, Practitioner, and combined PRINCE2 courses to help you choose the right option.
6. Is the preferred business option clearly stated, along with the reasons why?Practitioner
7. If the project requires external procurement, is the preferred sourcing option stated, and why?Includes Foundation & Practitioner combined option.
8. Is it clearly stated how any necessary funding will be obtained?Association for Project Management (APM)MarketingBest for
9. Does the business case include non-financial, as well as financial criteria?Project Fundamentals Qualification (PFQ) Prerequisites
10. Does the business case include operations and maintenance costs and risks?Start your APM project management career. Duration
11. Does the business case include project costs and risks?Project Management Qualification (PMQ) Delivery options
12. Does the business case conform to organisational accounting standards (e.g. break-even analysis and cash-flow conventions)?Advance your APM project management expertise. Exam included
13. Are the major risks faced by the project explicitly stated, together with any proposed responses?Project Risk Single Certificate Level 1 Exam format

How do you write a good business case?Enhance your project risk management skills. Qualification gained

A good business case must contain certain key information including:AgilePM View courses

• The reasons for doing the project;®The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
• The business options which have been considered, including the base business options of do nothing, so something, or do something else; – Agile Project Management
• Project and operational costs;Foundation Manage options
• Project and operational timescales;Learn the key principles of Agile Project Management.Manage servicesFoundation
• Benefits, expressed in measurable terms;Practitioner Manage {vendor_count} vendorsSee course
• Investment appraisal (or cost benefit analysis);Includes Foundation & Practitioner combined option.Read more about these purposes
• Major risks and their mitigation plans;PRINCE2

How long is a business case?®Accept

A good business should be long enough that it contains all the information needed for the decision-makers to take an informed decision about whether to invest in the project. That means, remove any waffle, and only include information which helps decision-making. Agile New to project management or PRINCE2.

What’s included in a business case?Foundation Deny

The following are the most important items to put into a business case:Learn the fundamentals of the PRINCE2 Agile method. None

• Executive summary – summarizes the key points;Practitioner View preferences
• The reasons for the project (answers the question ‘Why are we doing this?’);Includes Foundation & Practitioner combined option. 2 days or 20 hours
• The options considered – e.g. do nothing, do something, or do something else – (answers the question ‘What’s the best option?’);Save preferencesAI Project Governance Framework (AIPGF)
• The expected benefits – in measurable terms – (answers the question ‘What’s the return?’); Foundation Instructor-led, self-paced online
• Costs – both project and operational – (answers the question ‘How much will it cost?’);View preferencesLearn the fundamentals of the governance framework.
• Timescales – for the project and for realizing benefits – (answers the question ‘How long will it take?’);{title}Practitioner PRINCE2 Foundation exam
• Investment appraisal – weigh up costs, times, risks against benefits – (answers the question ‘Is it worth it?’);{title}Includes Foundation & Practitioner combined option.
• Major risks – (answers the question ‘What if?’).{title}Better Business Cases60 minutes, multiple choice

What is a business case template?Manage consent™

A business case template serves as a starting point when writing a business case. It is reusable and can be used across all your projects. Depending upon its needs, your organisation may have different business case templates, each one used for different scales of projects.Manage consentFoundation PRINCE2 Foundation certificate

You can download an example Learn the fundamentals of Better Business cases. business case template herePractitioner Foundation. Includes Foundation & Practitioner combined option.

What is the purpose of a business case?PractitionerP3O

The purpose of a business case is simple – it’s used to justify an investment in an activity. Typically, in an organisation this activity is a project. It helps give confidence to management that their investment is worthwhile and will realize benefits for the organisation.See course®

Who owns a business case? Foundation

A business case is owned by the person who is funding the project. The name of this role is different across organisations, but commonly this role is known as a project sponsor, or project executive. Learn the fundamentals of the P3O project management office.

By owning the business case, it means this person is accountable for ensuring that any investment decisions which are taken based upon the information within the business case are worthwhile. Practitioner