Business Development: How to Write a Business Case
Why do so many projects fail to meet their objectives despite the implementation of project management best practices? Project management is inherently difficult, but if you don’t have enough buy-in from the proper people, it can be disastrous.
A well-written and thorough business case can make all the difference.
A business case is a management tool that allows decision-makers, stakeholders, and the general public to make evidence-based and transparent decisions. It is a framework for delivering and measuring the performance of the succeeding policy, strategy, or project.
In this course, we’ll go over what a business case is, how to create one, the different tiers of business cases, and how to evaluate them.
A business case justifies the execution of a project, program, or portfolio. It weighs the advantages, disadvantages, costs, and risks of many alternatives before recommending one.
To obtain the board or management to approve a project, you’ll need to create a business case that explains why it’s needed and what the project’s benefits would be once it’s completed.The rationale and benefits of a project may be obvious to you and others who are directly involved with it; however, stakeholders and other decision-makers may not be so aware.They frequently deal with a variety of various business units, objectives, and tasks that must be completed. A well-prepared business case can help your idea stand out among competing priorities inside the corporation, and it may be the key to obtaining permission and funding.