What are the 3 stages when developing a business case?

What are the 3 stages when developing a business case?

When developing a business case, the three phases are the following: Phase 1 Strategic Context; Phase 2 Analysis and Recommendation; and Phase 3 Management and Capacity.

How do I start a new business case?

How to write a business case

1. Identify the problem you’re solving.
2. Explore alternative solutions.
3. Identify the ideal solution.
4. Create an executive summary for your project.
5. Detail the resources needed for the project.
6. Outline the scope of the project.
7. Provide a timeline for implementation and completion.

Who prepares 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.

How do I build a business case?

When considering how to build a business case for your project there are many factors to take into account. The most important of these are to: Keep it concise, avoid using too much jargon and make it interesting for your audience. Explain the objectives of the plan. Demonstrate how your project will bring value to the business.

What makes an effective business case?

The reasons for doing the project;

The business options which have been considered,including the base business options of do nothing,so something,or do something else;

Project and operational costs;

Project and operational timescales;

Benefits,expressed in measurable terms;

Investment appraisal (or cost benefit analysis);

How to build a business case?

Be brief and convey only the bare essentials.

Make it interesting,clear,and concise.

Eliminate conjecture and minimize jargon.

Describe your vision of the future.

Demonstrate the value and benefits the project brings to the business.

Ensure consistent style and readability.

How do you write a business case?

There are four steps necessary to write a business case, which are as follows: Research your market, competition and alternatives. Compare and finalize your approaches. Compile the data and present your strategies, goals and options. Document everything.