Published 31 Jan 2023
What Is a Business Case Template?
A business case template is a tool used by project managers to write an effective business case with ease. A simple business case template, also known as a business use case template, is frequently displayed as a one-page Word or PDF file with elements like the problem definition, alternative solutions, and conclusion. In a corporate setting, a business case serves as a formal document of the justification for undertaking a project. Writing a business case template becomes a breeze with the help of digital operations management platforms.
Business Case Template
This business case template can be used by project managers across different industries to create a business case with the most important components. This free template is based on the example shared by an AU-based commission on safety and quality. Here’s how to easily use this business case template in SafetyCulture (formerly iAuditor):
- Enter general information such as the document number, company name and department, project name and its sponsor, and date when the template was first used.
- Introduce the business case with a brief background, the problem statement, strategic objectives, and related projects.
- Break down each solution option into its description, benefits, disadvantages, timescale, costs, and major risks, then state the preferred option and why.
- Assign an action with a priority level and due date for any type of procurement that needs to be undertaken.
- List key milestones and deliverables with a date, or elapsed time from the start of the business case, and add photos or attach files where appropriate.
- Indicate details on governance, progress monitoring, how the business case will be kept updated, and how different versions will be identified.
- Complete the business case with additional comments and the digital signature of the project manager.
Sample Business Case Template | View Template
In this article
- Why You Need a Business Case
- The Most Important Components of a Business Case
- How to Write a Business Case Template in SafetyCulture
- Free Business Case Templates
Why You Need a Business Case
A business case provides data-driven reasons to implement an idea by establishing its context, presenting a set of options, and offering a rationale for the preferred solution. Decision makers and key stakeholders leverage on a business case to evaluate the costs, benefits, and risks of taking a certain action. A good business case enables the company to explore the high-level options for meeting business needs early in a project. It also demonstrates management commitment toward evidence-based decision-making, transparency, and accountability. This template also proves to be a useful tool when creating a Project Initiation Document (PID) template.
The Most Important Components of a Business Case
The parts of a business case template vary based on different factors such as industry use case, company requirements, and client specifications. For example, business case templates used in project management normally contain general elements such as the executive summary and project overview, while an agile or lean business case template used in manufacturing typically requires specific items such as non-functional requirements and minimum viable product features. Whatever the use case, here are three of the most important components of a business case:
1. Problem Statement
This section defines the problem that the business case intends to address. The business problem usually involves a process, technology, product, or service along with the technical obstacles that have to be tackled. When describing the problem, minimize using jargon and keep it concise yet comprehensive enough that stakeholders immediately recognize the problem’s subject matter. It is crucial to keep in mind that any discussion about potential solutions should not be covered here.
2. Solution Options
This section reveals a number of alternative options that have been considered to solve the problem, including the status quo. The value proposition of each suggestion should not be based on mere speculation, but it should be backed up by reliable data. Each potential solution should illustrate its financial implications, perceived benefits, and associated risks to facilitate a more systematic analysis.
3. Conclusion or Rationale
This section indicates the best option after a comparison of all the alternatives. The recommendation should clearly summarize the reasons for moving forward with the project and show the vision for the project’s future. It is essential that the conclusion portrays only the necessary details and its tone remains consistent with the other aspects of the business case.
How to Write a Business Case Template in SafetyCulture
Writing business cases can be challenging and time-consuming, especially because project managers already have a lot on their plate everyday. Use free business case templates in the the digital operations management platform, SafetyCulture. Here’s how teams can easily streamline business case documentation and recordkeeping with SafetyCulture:
- Download editable templates from our shortlist below and use them on desktops, laptops, or mobile devices such as smartphones and tablets.
- Input additional notes, capture photo evidence, and attach relevant files in the business case template and when needed, assign actions to designated staff with priority levels and due dates. Add up to 10 team members using a free SafetyCulture account.
- Save drafts and complete business cases in a secure online cloud storage or automatically convert them into professional PDF reports or business case report template in Word format—which can both be sent via email.
Free Business Case Templates
Business Case Study Template
A business case study template is used by corporate strategists to present a business case with the financial and non-financial aspects of each project alternative, including requirements and operational benefits. Use this template to write an overview of the business case, baseline and alternatives, risk comparisons, and conclusions or recommendations. This template includes informational images of sample screening criteria and risk cubes for easier visual reference.
Simple Business Case Template
A simple business case template, or also known as a basic business case template, is often used by entrepreneurs and employees to make a one-page business case. Use this template to document the reason for the project, options available, anticipated improvements, estimated costs, underlying risks such as unforeseen costs and extra labor, schedule with milestones, assessment (e.g., what could happen if the project isn’t undertaken), and recommendation.
Project Business Case Template
A project business case template, also known as a project management business case template, is used by managers and supervisors to demonstrate the essential elements of a business case for general projects. Use this template to detail the contribution of the project to the overall business strategy, options considered, benefits, timescales, costs, expected return on investment, and risks. This template also provides an example for each element.
Business Case Analysis Template
A business case analysis template is used by business analysts to easily evaluate critical components and create a comprehensive business case with a team. Use this template to discuss the executive summary, business case analysis team, problem definition, project overview, cost-benefit analysis, alternatives analysis, impact analysis, and approvals, where mandatory items have been enabled such as the approver name and digital signature.
Business Case Proposal Template
This business case proposal template is based on an excerpt from the detailed template provided by an AU-based state department of industry, tourism, and trade. Use this template to cover the details of the proposed project with a focus on the problem to be addressed or opportunity to be harnessed. It mainly consists of the background, what initiated the project, why its sponsors want to do the project, options analysis and its outcome, and conclusion.
SafetyCulture Content Specialist
Jona Tarlengco
