What is included in a business case?
The business case brings together the benefits, disadvantages, costs, and risks of the current situation and future vision so that executive management can decide if the project should go ahead.
What are the 4 key elements that a business case should contain?
Definition
- Strategic context: The compelling case for change.
- Economic analysis: Return on investment based on investment appraisal of options.
- Commercial approach: Derived from the sourcing strategy and procurement strategy.
- Financial case: Affordability to the organisation in the time frame.
What are the different types of business cases?
The business case development process follows the Five Case Model:
- The Strategic Case.
- The Socio-Economic Case.
- The Commercial Case.
- The Financial Case.
- The Management Case.
What is a business case format?
What is a business case template? A business case is a document that outlines potential projects to help teams and stakeholders decide whether completing it is worth the investment, and a business case template is a version of this document that you can fill in with your own information.
Who creates a business case?
Who writes the Business Case? Programme management often develops the detailed Business Case, but many organisations delegate this work to the Project Manager or a business analyst. Project Assurance can also assist with developing the Business Case.
What is the most important part of a business case?
A business case needs to lead the reader through the problem, to consider various solutions, and finally decide on which option is best. It therefore needs a clear structure, with plenty of headings and sub-headings to guide the reader.
Who writes a business case?
What is a good business case?
A good business case will explain the problem, identify all the possible options to address it, and allow decision-makers to decide which course of action will be best for the organisation. It will also allow any changes to the scope or time-scale of the project to be assessed against the original purpose.
What is the 5 case business model?
The Five Case Model is the approach for developing business cases recommended by HM Treasury, the Welsh Government and the UK Office of Government Commerce. It has been widely used across central government departments and public sector organisations over the last 10 years.
How do you start a business case?
Here are the five key steps for creating the business case.
- Step 1: Confirm the opportunity. Describe the situation and the business opportunity that your proposal will impact.
- Step 2: Analyze and develop shortlisted options.
- Step 3: Evaluate the options.
- Step 4: Implementation strategy.
- Step 5: Recommendation.
Why is a business case needed?
A business case often provides decision makers, stakeholders and the public with a management tool for evidence based and transparent decision making. It is a framework for delivery and performance monitoring of the subsequent policy, strategy or project to follow thereafter.
What is a green book business case?
Green Book guidance covers: sale or use of existing government assets – including financial assets. appraisal of a portfolio of programmes and projects. structural changes in government organisations. taxation and benefit proposals.
How do you create a business case?
Why do you need a business case?
What is the Green Book 5 case model?
The Green Book supports the 5 case model, which is the government’s recommended framework for developing business cases. It is also supported by supplementary guidance that addresses appraisal issues relevant to specific policies.
What are the 3 types of business plan?
There are multiple types of Business Plans; strategic plans, operational plans, internal plans, and many others. You will need to make different sets of Business Plans depending on what you want to accomplish. Like in most things, form follows function.