What is a business case?
A business case outlines the value proposition of your digital workplace. It contains necessary information about cost and resource requirements, benefits and risks involved, evaluation of issues, recommended solutions and a clear path to return on investment (ROI). It is most helpful in assessing the weight of risk, the cost of mitigating them, and the level of management’s risk tolerance.
Why do you need a business case?
A business case is one of the best tools to:
- Articulate your value proposition to key stakeholders
- Ensure necessary support in the organization and set clear business objectives
- Secure senior-level buy-in, budget, and commitment
- Outline scope, including resource requirements, timeline, and cost
- Evaluate options and make recommendations
- Identify and manage the risk associated with the project
Building your business case
Building a business case requires planning and a solid framework which appeals to your executive team and/or sponsor. Depending on your organization and the project, your business case can vary from simple to complex. Generally, you need a business case to justify the resources or expenditures required to support a project and the project owner writes the business case with support from key stakeholders (e.g. domain experts) such as:
- Executive sponsor
|Playbook Tip: Five questions your business case should answer|
- What are the goals?
- What are the business challenges to achieving the goals?
- What is needed to overcome the challenges?
- Are you certain, the solution will solve the business challenges?
- Do you have evidence to support your assumptions?
In some cases, you might not have the time or resources to put together a thorough business case for your digital workplace. If you're in a situation where developing a business case simply isn't feasible, we recommend that you build use cases instead.