Who creates a business case?

The sponsor owns the business case. It brings together the investment appraisal with evidence of how the investment is intended to lead to realisation of the intended benefits. All projects must have a business case that demonstrates the value of the work and it is outlined during the concept phase of the life cycle.

What three main components make up the business case?

Sections that are usually required in a business case are:

  • Executive Summary. The executive summary summarises the business case, including your recommendation. …
  • Introduction. …
  • Statement of the problem. …
  • Analysis. …
  • Discussion of Possible Options. …
  • Recommendation. …
  • Details of your Chosen Option. …
  • Conclusion.

What information should not be included in a business case?

Do Not Include: Too Little or Too Much Detail

Most, if not all, questions regarding the daily operations and function of the company should be answered in the document. Thus, do not be too vague. Additionally, don’t overload investors with overly technical details.

Which information is included in a business case?

Information included in a formal business case could be the background of the project, the expected business benefits, the options considered (with reasons for rejecting or carrying forward each option), the expected costs of the project, a gap analysis and the expected risks.

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Why a business case is important?

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 the difference between a project brief and a Business Case?

A key difference is that, while a project proposal outlines budgets and return on investment, a business case explains financial requirements in more detail. Some people like to do both, whereas others choose to combine them and present just one highly detailed project proposal instead.

Is a Business Case a living document?

Purpose of a business case

A business case must be produced for all public sector expenditure, but with levels of effort and detail in proportion with the scale of proposed investment. They should be seen as living documents, regularly revised and updated to reflect the latest position.

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