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BUSINESS CASE TEMPLATE
BUSINESS CASE
PROJECT TITLE
Business Case Version
Status
draft/ready for review/approved/authorised
This template is for the purpose of creating a Business Case that will provide senior management with
information needed to decide whether the project is desirable, viable and achievable and therefore
worthwhile to invest in. Where there are more projects competing for the same resources, the Business Case
can help with the prioritisation of these projects.
Every project requires a Business Case, which is created in outline1 at or even before the start of the project. It
is updated during initiation and maintained throughout the project. The Business Case forms the basis against
which the success of the project can be measured and must show that doing the project provides value, i.e.
that the expected benefits outweigh the cost and risks of doing the project.
The outline Business Case is typically produced by the Project Manager with input from senior management2.
1 Reasons
Why is the project needed and how does it fit in the overall strategy? Typical reasons include opportunities,
problems or legal requirements.
2 Business Options
What options have been considered to address the reasons for doing the project (including doing nothing)?
Which is the recommended option and why?
1
At the start of a project cost and timescales tend to be ballpark figures and reflect desire rather than reliable
estimates. This is why the Business Case can only be created in outline. Information from the Project Plan,
which is produced during Initiation, can be used to further refine the Business Case.
2
Senior management is typically represented by a Project Executive, who is ultimately responsible for the
project in terms of achieving its objectives. The Project Executive “owns” the Business Case.
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BUSINESS CASE TEMPLATE
3 Expected Benefits
What are the benefits the project is aiming to achieve and how do they support the overall strategy of the
business?
4 Expected dis-benefits
What are the inevitable draw-backs (if any) of doing this project that would negatively impact on the overall
benefit of doing the project? The cost or risk of doing the project should not be included here but in
sections 5 and 7 below.
5 Cost
What is the estimated3 or desired maximum cost of the project itself and that of any ongoing operational
and maintenance activities? Where is the funding going to come from and when will it be available?
3
At the start of a project this may be a ballpark figure only and will be refined later when the Project Plan has
been completed.
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BUSINESS CASE TEMPLATE
6 Timescales
What is the estimated4 duration of the project or the desired or required date of completion and what are
the timescales over which the benefits are expected to be achieved? What is the economic lifespan of the
project’s final deliverable?
7 Major risks
What are key areas of uncertainty that may impact on the ability of the project to achieve its objectives?
8 Investment appraisal and evaluation5
Does the project provide value for money, i.e. do the benefits of doing the project outweigh the disbenefits, cost and risks?
Further guidance may be found here: https://www.projectsmart.co.uk/writing-an-unbeatablebusiness-case.php
4
At the start of a project this may be a ballpark figure only and will be refined later when the Project Plan has
been completed.
5
In the outline version of the Business Case, where there is only a rough estimate for cost, it will not be
possible to provide a full investment appraisal, so a brief statement explaining why the project will provide
value will suffice.
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