Business Case Document Definition
A business case outlines for a decision maker the benefits and business value of a proposed initiative. When written the document itself is sometimes referred to as a business case.
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Definition from APM Body of Knowledge 7th edition.
Business case document definition. The purpose of the business case is to document the justification for the undertaking of a project usually based on the estimated cost of development and implementation against the risks and the anticipated business benefits and savings to be gained. A business case provides justification for a proposed business change or plan and typically outlines the allocation of capital and resources required to. One of the first things you need to know when starting a new project are the benefits of the proposed business change and how to communicate those benefits to the business.
The business case is a type of document that describes information of a particular business to determine if the project is worth the investment. Definition A business case provides justification for undertaking a project programme or portfolio. It can be considered a pitch that gives stakeholders the information they need to make a decision to invest in a project.
A business case is a document that justifies a new project to management and stakeholders. It is a part of the projects mandate investigating the business problem examining expected tangible and intangible benefits setting expected costs of the project and describing potential impacts of the project on the performing organization. At its simplest a business case could be a spoken suggestion.
The business case also discusses detailed. It is presented as a well-structured document which includes information such as the background of the project expected commercial benefits gap. A business case is a proposal for a project strategy or course of action.
This document is crucial when a project requires a major investment of money or resources. The term business case frequently refers to a written document that is submitted for review or presented at a meeting but can also apply to an informal spoken proposal. How to write the business case.
A business case is developed during the early stages of a project and outlines the why what how and who necessary to decide if it is worthwhile continuing a project. Subsequent sections of the document. A business case is a written or verbal value proposition that is intended to educate a decision maker and convince them to take some kind of action.
The business case is typically developed by the project sponsor and presented to key stakeholders for evaluation. Purpose of Business Case A Business Case assists organizational stakeholders in making decisions regarding the viability of a proposed project effort. Provide options for the board and management to consider in reaching a decision.
What Should Be in a Business Case. The following is content that is commonly included. This business case outlines how the Web Platform WP Project will address current business concerns the benefits of the project and recommendations and justification of the project.
The business case document is used by the project sponsor the executive team or the board to determine if they should invest in a specific project. Use of a Business Case is considered standard practice throughout private and public industry. It evaluates the benefit cost and risk of alternative options and provides a rationale for the preferred solution.
Business Case is a formally written document that proves the justification for proceeding with a given project.
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