What is included in a business case?

What is included in a business case?

The business case brings together the benefits, disadvantages, costs, and risks of the current situation and future vision so that executive management can decide if the project should go ahead.

What three main components make up the business case?

Sections that are usually required in a business case are:

  • Executive Summary. The executive summary summarises the business case, including your recommendation. ...
  • Introduction. ...
  • Statement of the problem. ...
  • Analysis. ...
  • Discussion of Possible Options. ...
  • Recommendation. ...
  • Details of your Chosen Option. ...
  • Conclusion.

What is the 5 case business model?

The Five Case Model is the approach for developing business cases recommended by HM Treasury, the Welsh Government and the UK Office of Government Commerce. It has been widely used across central government departments and public sector organisations over the last 10 years.

How do you write a high level business case?

The Four Steps to Writing a Successful Business Case

  1. Step 1: Identify the Business Problem. Projects aren't created for projects' sake. ...
  2. Step 2: Identify the Alternative Solutions. ...
  3. Step 3: Recommend a Preferred Solution. ...
  4. Step 4: Describe the Implementation Approach.

What is a full business case?

8.

What information is required to prepare the outline business case?

An Outline Business Case (OBC) sets out the preliminary thoughts regarding a proposed project. It should contain the information needed to help the institution make decisions regarding the adoption of the project. It should state envisaged outcomes, benefits and potential risks associated with the proposal.

Who is responsible for creating and writing the business case?

The business case is a key input to the project management plan and is usually owned and created by the project sponsor.

Who is responsible for 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.

What is a strategic outline business case?

The purpose of the Strategic Outline Case (SOC) is to provide the necessary Information in a format that will enable the authority and any public sector partners to assess the scope of the project and any investments in service improvement.

Does minimum have a option?

The 'do the minimum'/'do something' options represent potential projects each with their own costs, times, benefits and risks. ... For example, investing in new machinery might bring benefits in terms of greater productivity and lower maintenance costs.

What is a strategic outline?

A strategic plan is a description of where you want your organization to be in the future and how you're going get there. ... But in order to create a helpful and usable strategic plan template, you need to have a solid working outline.

What is a strategic case?

The main purpose of the strategic case is to confirm whether: there is a compelling case for change to investigate further; that is, there is evidence that suggests there is a problem, and indicates the scale of the problem. key stakeholders are aligned and behind the need to address an agreed problem.

How do I write a business case UK?

How to write a brilliant business case

  1. First thoughts. The first stage is to produce a rough justification for addressing a problem or opportunity. ...
  2. Clarification of purpose. ...
  3. Situation analysis. ...
  4. Executive summary. ...
  5. Problem/opportunity definition. ...
  6. Problem/opportunity analysis. ...
  7. Market analysis. ...
  8. Proposition.

What are the five steps in the strategic planning process?

The 5 Steps of the Strategic Planning Process

  1. Determine your strategic position.
  2. Prioritize your objectives.
  3. Develop a strategic plan.
  4. Execute and manage your plan.
  5. Review and revise the plan.

What are the six key steps of strategic planning that should be used by a retailer?

What Is A Strategic Plan? 6 Essential Steps

  • Identify your core mission.
  • Have a future-focused vision statement.
  • Identify priorities.
  • Build a communication or rollout plan.
  • Hold people accountable.
  • Review, review, review.

What is the value of strategic planning?

Strategic planning value Align the management team on a strategic agenda to move the organization forward. Communicate clarity of direction throughout the organization. Provide clear direction and thereby restore integrity of leadership. Solve key performance problems.

What are the most effective learning strategies?

Top 10 Most Effective Learning Strategies

  1. Practice testing. The most effective strategy according to Dunlosky's research is practice testing.
  2. Distributed practice. Distributed practice is basically the opposite of cramming. ...
  3. Interleaved practice. ...
  4. Elaborative interrogation. ...
  5. Self-explanation. ...
  6. Rereading. ...
  7. Highlighting. ...
  8. Summarisation. ...

What are the 5 business strategies?

Let's examine each of the five generic business-level strategies in turn.

  • Cost Leadership Strategy. ...
  • Differentiation Strategy. ...
  • Focused Cost Leadership Strategy. ...
  • Focused Differentiation Strategy. ...
  • Integrated Cost Leadership/Differentiation Strategy.