It is an essential and useful tool for substantiating the viability Of initiatives ND the justification of resource Investment. It sets out: the problem or situation addressed by the proposal; the features and scope of the proposed initiative; the options considered and the rationale for choosing the solution proposed; the proposal’s conformity with existing policies and etc; the implementation plan; the expected costs; the anticipated outcomes and benefits; and finally, the expected risks associated with the proposal’s implementation.
Business cases are important because when an organization faces a major decision about a change or a proposed project, it s necessary to gather all the relevant information into a coherent business case to enable that decision to be made. For organizations, decisions involving investment in IT are important because they are likely to affect current and future activities. A business case describes the need for change and projects that will enable the change.
Realizing a proposed project requires resources to be invested, including management, staff time and money. There are many competing projects within an organization but the resources are limited and some projects may not be worth the effort. Documenting the need for change and how the change will be achieved in a business case provides senior managers and trustees with information to evaluate the project and understand the impact the project will have on the organization.
A strong case means that the proposal will add substantial value to the organization and support its strategic plan. When evaluating a project one has to consider operational, technical, and economic and schedule feasibility. A proposal has to pass all these tests, otherwise it stops. The business case also provides the framework for the approved project and organizations refer to it throughout the project when people suggest changes, typically to the scope of the project, timescale or costs.
It is helpful to review and update the business case at key points to make sure that the reasons for the project are still valid and that it is achieving what it set out to do. Out of the three business case templates like (see attachments), business case template number one, is my favorite because it is very straightforward and the example used in the template is for an IT project. Business case template two comes from the Treasury Board of Canada. Eke how it’s very detailed and explains step by step how to write a business case.