How do you use a business case template to streamline and standardize your process?

1 Identify the problem or opportunity

The first step is to define the problem or opportunity that your project or solution aims to address. You should explain the current situation, the gap between the desired and actual outcomes, and the impact of not solving the problem or seizing the opportunity. You should also identify the key stakeholders, their needs and expectations, and how they will be affected by the project or solution.

2 Analyze the options

The next step is to identify and evaluate the possible options to solve the problem or achieve the opportunity. You should compare the benefits, costs, risks, and assumptions of each option, and use relevant criteria and methods to rank them. You should also consider the alignment of each option with the strategic goals and priorities of your organization, and the feasibility and sustainability of each option.

3 Recommend the preferred option

The third step is to recommend the preferred option based on your analysis and evaluation. You should justify why this option is the best choice among the alternatives, and how it will deliver the expected benefits, costs, risks, and outcomes. You should also highlight the key features and requirements of the preferred option, and the scope and boundaries of the project or solution.

4 Plan the implementation

The fourth step is to plan how you will implement the preferred option. You should outline the main activities, milestones, deliverables, resources, roles, and responsibilities involved in the project or solution. You should also estimate the time, budget, and quality parameters for the project or solution, and identify the dependencies, assumptions, and constraints that may affect the implementation.

5 Monitor and evaluate the results

The fifth step is to monitor and evaluate the results of the project or solution. You should define the success criteria and indicators that will measure the performance and impact of the project or solution. You should also specify how, when, and by whom the results will be collected, analyzed, reported, and reviewed. You should also plan how you will manage the risks, issues, changes, and lessons learned during and after the project or solution.