As a manager, supervisor or project leader, your task is to create a project, form a team, and then lead the project to completion. And, although your company may not need to approve every new project, getting support from all parties involved is still crucial. From the beginning, no one is involved. No matter how good your results are, people will question whether your project is truly worth the time and money. So, how to ensure that everyone understands the project and how it will benefit the organization? You write a business case.
What is the business case in project management?
The business case in project management is a written document that explains the core benefits of the project, explains why the project was initiated and why the cost is worth it. It also details how the project aligns with the company’s goals. By writing a plan for your project, you can communicate the expected results. It can also be used as insurance to ensure that you have a clear project before you start working on it. From project managers to public relations account managers, to people who promote new products to C-level managers, all should create a business case.
How to write a business plan
Now that you know some of the benefits of a business case, how do you write one? What are the key elements in your plan? This is what your business case document should include.
Example of a good business case
Sometimes it helps to use scenarios to demonstrate the steps of writing a business case. For example, suppose your company is in the fast food business and has franchisees. You want these franchisees to use solar roof tiles to save operating costs. However, starting from the beginning, this will require an additional fee, which will be paid partly by you (the company) and partly by them (the franchisee). Therefore, you need the support of franchisees when using these new roofs.