Purpose: A good business case template clarifies the financial aspects of the project to enable a project initiation decision. Use the total cost of the project and the projected benefits to either justify the project, or, if they don’t stack up, recommend cancelling it.
Process: At project definition stage, the initial business case is high level because usually, not all the costs are known until the analysis has been done and a specification produced which can be resourced and costed.
This is not a one off document, but it evolves and is used to monitor the project at all stages, to ensure the ongoing viability of spending the proposed time, cost and effort.
- Does the business case support corporate strategic goals?
- Do the costs and time-frame correlate with the project work plan?
- Are the benefits worth the costs?
Business Case Template:
Copy and paste the following headings into a document and format as required:
- purpose of the project
- total costs
- projected cash flow analysis