#? Project Management: How to Write a Business Case

Business and Project Management

Executive summary

This highlights the key points in the business case. Everything critical to making a top level decision that could be summarised into a question. Think as the Project board or CEO…How long is it going to take, how much, and who is going to do it.

Rationale 

This provides the reasons for undertaking the project. This explains why the project is helpful to progress, and how it aligns with the company mission, vision and short or long term strategies. You might also include suggestions of other passive benefits.

Pro’s and Cons

benefits and non-benefits of the project. Clear explicit impact that can be measured.

You will also need to consider some tollerances around this i.e. the acceptance of swaying between positive and negative impacts resulting from delivering the project.

Time:

How long the project will take to have an impact to the company.

Costs

This is a breakdown of the costs, usually in enough detail to identify initial tolerances for overspend or underspend. This will include things like operational costs, machinery, labour, IT support, materials, sustenance, travel, maintenance etc.

a summary of the project costs, the ongoing operations and maintenance costs, and their funding arrangements.

You might also include information around projected income that might facilitate the projects continuation, investment, or bid writing and funding requirements that the board need to consider.

Risk Assessment

What id you’re plan or those involved with it miss something,or there is something out of your control that could impact business severely?

This is a summary of the major risks risks associated with the project and what is with reason to mitigate them. You won’t be able to consider everything, and there ay be further risk assessment that you do as part of a project, but this section should capture the absolute important risks that support the board to make a decision about wether to approve the project at all!

Sustainable Development Goals

More recently project management methodologies like APM and PRINCE2 also factor in sustainability, to ensure considerations and alignment with sustainable development goals or cost saving initiatives and grants.

Check out the templates pack with all the project management templates you need to get started!

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