Business Case Development
Developing a Strong Business Case
A strong business case compares multiple alternatives in order to identify and propose the single course of action that creates the most value.
The business case development process
To build a compelling and solid business case a certain process should be followed. The depth of analysis and extent of documentation necessary to support the business case will vary depending on the initiative’s scope, costs, organizational impact, and risk.
Developing a business case is useful as it helps companies and organizations decide whether to invest resources in an idea. A business case is useful as it assists the company or the organization in deciding whether to:
- Demonstrate the organizational benefit of a proposed product or service
- Prioritize projects within your group and identify which ones to eliminate
- Show the value of a product or service to a customer to make a sale
- Obtain additional resources for a new project or initiative
- Modify an existing offering
- Invest in a new capability, such as a software program or training
- Decide whether to outsource a particular function