Business Case Template

This article features:

• Purpose
• Parts
• Process
• Free Templates

Why You Need a Business Case

A business case provides data-driven reasons to implement an idea by establishing its context, presenting a set of options, and offering a rationale for the preferred solution. Decision makers and key stakeholders leverage on a business case to evaluate the costs, benefits, and risks of taking a certain action. A good business case enables the company to explore the high-level options for meeting business needs early in a project. It also demonstrates management commitment toward evidence-based decision-making, transparency, and accountability.

The Most Important Components of a Business Case

The parts of a business case template vary based on different factors such as industry use case, company requirements, and client specifications. For example, business case templates used in project management normally contain general elements such as the executive summary and project overview, while an agile or lean business case template used in manufacturing typically requires specific items such as non-functional requirements and minimum viable product features. Whatever the use case, here are three of the most important components of a business case:

1. Problem Statement

This section defines the problem that the business case intends to address. The business problem usually involves a process, technology, product, or service along with the technical obstacles that have to be tackled. When describing the problem, minimize using jargon and keep it concise yet comprehensive enough that stakeholders immediately recognize the problem’s subject matter. It is crucial to keep in mind that any discussion about potential solutions should not be covered here.

2. Solution Options

This section reveals a number of alternative options that have been considered to solve the problem, including the status quo. The value proposition of each suggestion should not be based on mere speculation, but it should be backed up by reliable data. Each potential solution should illustrate its financial implications, perceived benefits, and associated risks to facilitate a more systematic analysis.

3. Conclusion or Rationale

This section indicates the best option after a comparison of all the alternatives. The recommendation should clearly summarize the reasons for moving forward with the project and show  the vision for the project’s future. It is essential that the conclusion portrays only the necessary details and its tone remains consistent with the other aspects of the business case.

How to Write a Business Case Template in iAuditor

Writing business cases can be challenging and time-consuming, especially because project managers already have a lot on their plate everyday. Use free business case templates in iAuditor, the digital operations management platform powered by SafetyCulture. Here’s how teams can easily streamline business case documentation and recordkeeping with iAuditor:

• Download editable templates from our shortlist below and use them on desktops, laptops, or mobile devices such as smartphones and tablets.
• Input additional notes, capture photo evidence, and attach relevant files in the business case template and when needed, assign actions to designated staff with priority levels and due dates. Add up to 10 team members using a free iAuditor account.
• Save drafts and complete business cases in a secure online cloud storage or automatically convert them into professional PDF reports that can be sent via email.