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h3>Learning outcomesThis article explains how to write a business case. It includes 2 business case examples and a free business case template for you to 3>download<p>PRINCE2 Foundation training provides students with a basic understanding of the PRINCE2 framework and the terminology of PRINCE2. Students will be able to act as an informed member of a project team and gain an understanding of:.

>You’re probably reading this article because you want to know how to write a business case. Perhaps your organisation is embarking on a major project to develop a new product. Or, perhaps you’re thinking of moving house so your family can enjoy a better life. In either case, you write a <ul>business case<li> to ensure the investment is worthwhile.<

span>Overview of PRINCE2In this article we’ll give you 2 business case examples, provide you with a simple business case template for you to use, and explain how to write a business case.

sup>thWhat is a business case?

> edition).A business case is the justification for some activity (e.g. a project) undertaken by your organisation. It weighs up the timescales, costs and risks of doing the activity against the benefits to be gained. Think of it as weighing up the pros and cons and then taking a sensible decision.

>A business case forms an essential component of the curriculum of the >best project management courses>","learningResourceType":"presentation","teaches":".<

h3>CurriculumPersonal business case

3>You may also use a business case to justify an investment you make in your personal life. For example, when you’re thinking of moving home to another area. You and your spouse will need to understand the costs of moving, the timescales and risks involved, and weigh these up against the benefits to be gained e.g. saving time traveling to your office, or your children able to go to a better school.<

h4>PRINCE2 FoundationWhy have a business case?

4>Projects should not just start on a whim or because of vanity – although a lot of money has been wasted over the years on such <p>PRINCE2 Foundation courses (online and classroom) covers all topics from the PRINCE2 Foundation syllabus. This includes the following topics:projects>.<

h5>PRINCE2 overviewFor business organisations, justification for a project usually takes a commercial form i.e. evaluating how much money could be made from the investment. For example, investing money in developing a new software app to bring first to market, might be deemed to bring certain monetary benefits (in terms of sales) which exceeds the costs of investment.

5>For government organisations, justification is probably not a commercial one, but could be based upon giving value for money to achieve certain benefits. For example, a public health campaign extolling the benefits of flu-vaccinations for elderly people, might be judged as giving greater value for money than having no campaign, and instead relying on treating patients in hospital once they have contracted the virus.<

ul>With so many competing claims being made on scarce funds, organisations need the assurance that the decision they are taking is the right one. After all, there will not be enough funds to pay for all the ideas for projects which are floating around the organisation.<

li>Projects and business as usualWho uses a business case?

>Business cases can be used by many different levels of management within an organisation. Not only are they used to justify the investment in an individual project, but also they are typically used by a <li>The structure of PRINCE2portfolio management> 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.<

li>Key PRINCE2 conceptsA 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.

>What form does a business case take?<

h5>PRINCE2 principlesBusiness 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.

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

ul>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.<

li>Ensure continued business justificationFor those of you interested in >project management<li>Learn from experience, the project management methodology known as >PRINCE2<li>Define roles, responsibilities, and relationships focuses its decision-making on a project on having a viable business case.

>Business case examples<

li>Manage by stagesWe 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 home<

li>Manage by exceptionSuppose 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.

>Reason<

li>Focus on productsAs 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?<li>Tailor to suit the project. In fact, there are two problems here – the local school and John’s long commute.

>Options considered

>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.<

h5>PeopleBenefits

5>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.<

ul>Timescales<

li>Key concepts related to people.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 >projects> or activities.<

h5>PRINCE2 practicesThere 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.

5>Costs<

ul>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.<

li>Business caseHowever, 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.

>Risks<

li>OrganizingFor 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 appraisal<

li>PlansThe 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.<

li>QualityOften in organisations there are rules defined to help business analysts or >project managers<li>Risk write what’s called an investment appraisal. In the next example, we’ll look at one example known as net benefits.

>Business case example 2: Handheld device project<

li>IssuesImagine a heating repair services company that uses a paper-based set of forms filled in by an engineer during site visits. The spare parts required to fix the heater are recorded on a form which is given to staff to process back in the office. They then order the parts, and schedule a follow-up visit for the engineer to fix the heater.

p>Let’s now look at this example business case.<

strong>PRINCE2 FoundationExecutive summary

> is for students wanting to learn the language of PRINCE2. It is ideal for people new to PRINCE2 and working in a project environment.This sample business case contains an executive summary. This section briefly describes the selected option and the key benefits it will bring.

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h3>Learning outcomesAs 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!

3>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:<

1. p>PRINCE2 Practitioner training provides students with an understanding of how to apply PRINCE2 on non-complex projects. Students gain an understanding of:Are the reasons for the project consistent with the corporate, >portfolio<ul> or <li>programme management<span>How to tailor the PRINCE2 themes, processes, and management products in a non-complex project scenario strategies?
2. >Is the >project plan<li> aligned with the business case? (e.g. are the costs and timescales in the project plan correctly reflected in the business case?)<
3. span>How to approach the PRINCE2 Practitioner exam.Are the benefits clearly identified and justified?
4. >Is it clear how the benefits will be realized?
5. >Is it clearly defined what will judged a successful outcome?
6. >","learningResourceType":"presentation","teaches":"Is the preferred business option clearly stated, along with the reasons why?<
7. h3>CurriculumIf the project requires external procurement, is the preferred sourcing option stated, and why?
8. 3>Is it clearly stated how any necessary funding will be obtained?<
9. h4>PRINCE2 PractitionerDoes the business case include non-financial, as well as financial criteria?
10. 4>Does the business case include operations and maintenance costs and risks?<
11. p>PRINCE2 Practitioner training courses (self-paced online and instructor-led classroom) cover all topics from the PRINCE2 Practitioner syllabus. This includes the following topics:Does the business case include project costs and risks?
12. >Does the business case conform to organisational accounting standards (e.g. break-even analysis and cash-flow conventions)?<
13. h5>TailoringAre the major risks faced by the project explicitly stated, together with any proposed responses?

5>How do you write a good business case?

Understanding and applying the PRINCE2 principles

• Understanding and applying effective people management
• Tailoring the PRINCE2 practices
• Tailoring the PRINCE2 processes

Tailoring the PRINCE2 management products

Exam prep

• How to approach the exam
• Two PRINCE2 Practitioner sample exams.
• PRINCE2 Practitioner (with Foundation)

PRINCE2 Practitioner (with Foundation) training courses (self-paced online and instructor-led classroom) cover all topics from the PRINCE2 Practitioner syllabus listed above, PLUS the topics from the Foundation syllabus listed below:

PRINCE2 overview

Projects and business as usual

The structure of PRINCE2