Structure of Business Case

Business case is a document that is used in Business Analysis to determine if a project can be developed successfully, It helps the stakeholders in understanding the current problems in the market related to the domains or Industry. Business case includes what is the proposed solution, the benefits that can be expected after building the product or platform, estimation of cost for developing the product, timeline to develop the product, the risks included during the development of the product and return on Investment. Business case also helps the management to decide if a project development can be approved or not. In order to prepare a good Business case, the following information is mandatory and must be included in the Business case: A. Why is the Project initiated - We must clearly document the reason why the Project is initiated after effective Market analysis, also use SWOT analysis. B. What is the current problem - We must document the current problems by using GAP analysis which is - as is, to be of the process. . C. With this project how, how many problems can be resolved - Document how many problems can be solved by developing this product. D. How much organizational change is required to adapt to this project - We must identify the dependencies and also perform the GAP analysis to understand the future state and document the level of change that is required to adapt to the new workflows of the product. E. Time to recover the return on Investment - Document the time that will be taken to recover the return on Investment after successful deployment of the product. F. How to Identify the Stakeholder - Using the RACI matrix technique ( Responsible, Accountable, Consulted, Informed) or ILS technique ( Identify, List, Summarize ) we must document the Stakeholders in the business case document. The following are the components of the Business case : 1. Executive summary : It is a high level summary of the project, it provides detailed description of the product or platform, along with the targeted users and business goals that will be achieved. 2. Problem Statement : It provides the problems that users face in the domain and the market currently. It lists all the difficulties that users may face to achieve the business needs. 3. Proposed Solution - The proposed solution describes the solutions to the current problems, that will be achieved by developing the product. 4. Stakeholders - The Stakeholders are identified by using the RACI matrix, that is identifying the Stakeholders who are - Responsible, Accountable, Consulted and Informed. The Stakeholders involved in the project are documented in the business case so that it is easy to understand the roles and responsibilities of each Stakeholder. 5. Expected Benefits - The Expected benefit lists all the benefits that will be provided by the product and how it will solve the users problems. 6. Budget - The Business case will also include the allocated budget for the development of the product or platform. 7. Time - The Business case will also include the allocated time for the development of the product or platform. 8. Risks - The Business case will also include the risks involved in developing the Product or platform. Risk can be internal - which are risks involved inside the company like hardware, software and resource and external risks such as external factors like third party, politics, natural disasters etc. Including the risks in the business case allows to mitigate and reduce the risks involved during development of the product or platform. 9. Recommendation - The Business case will describe if the product or platform can be developed, recommended and if it will achieve the client needs and business goals.