Business Case
Chathurani Gunathilaka
Civil Engineer I Specialized in Quality Assurance & Quality Control I Water & Wastewater Engineering I ISO 9001:2015 I Aconex I I help companies improve quality and deliver high-quality projects with cost savings
A business case and a feasibility study are key tools used to evaluate and justify projects. I would like to discuss the business case in this article.
Business Case
A business case is a structured document that outlines the rationale for initiating a project or task.
It examines,
When to Use a Business Case:
Key Components of a Business Case:
Executive Summary:
A brief overview of the project’s purpose, benefits, and alignment with strategic goals.
Problem or Opportunity:
A clear description of the problem the project aims to solve or the opportunity it seeks to exploit.
Project Objectives:
Specific goals and outcomes that the project should achieve.
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Options Considered:
A range of potential solutions or alternatives to the problem.
Preferred Solution:
The recommended course of action with justifications.
Cost-Benefit Analysis:
A detailed breakdown of the project’s costs and the anticipated benefits (e.g., financial returns, operational efficiency, market growth).
Risk Assessment:
Potential risks and their mitigation strategies.
Timeline:
Key milestones and deadlines for project implementation.
Stakeholder Analysis:
Who is affected by or involved in the project?
Conclusion and Recommendations:
A final statement supporting the preferred solution and why it should move forward.
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