Business Case Development

Traditionally, one could define a project as a success if you delivered what was required, within both the budget and the timeframe. But over time the definition of "success" has changed. Solely achieving the objectives is now often not enough, we need to evaluate the "value" that a project brings to our organisation. With an unpredictable world economy it is no longer feasible for an organisation to spend its resources on a project without determining that those resources have been used as effectively as possible.

Justification for a proposed project on the basis of its expected financial reward is termed as ‘business case’. 

Business case development is a process that companies often employ to obtain management commitment and approval for investment in business programmes or projects. It analyses how the business case for a particular project will incorporate the corporate strategy and assist any circumstances that put the company in a favourable business position. Business case clearly presents the risks and opportunities involved in a project, putting them into perspective of any resources required during its undertaking.

The business case is a major factor in project management planning and is typically owned and created by the project sponsor. Business case development plans are tailored to meet the unique requirements of each specific industry.

Business case development projects will only yield optimal results if they are properly assessed, planned and financially justified from the outset, by using Business case development. Preparing a Business case development with the five case model, is key to providing stakeholders with the reassurance of a proven framework, to hold firm even when complications and challenges present themselves.

The five case model comprises of five primary dimensions:

The Strategic Case: The purpose of the strategic dimension of the business case is to induce change, demonstrating its strategic merit.

The Economic Case: The intention of the economic dimension of the business case is to identify the proposal that delivers best public value to society (including wider social and environmental effects).

The Financial Case: The objective of the financial dimension of the business case is to demonstrate the affordability and funding of the preferred option (including support of stakeholders and customers, as required).

The Commercial Case: The goal of the commercial dimension of the business case is to demonstrate that the preferred option will result in a viable procurement and a well-structured deal between the public sector and its service providers.

The Management Case: The purpose of the management dimension of the business case is to demonstrate that thorough arrangements have been made for the delivery, observation and assessment of the scheme.

At Acufire UK, we approach business case development as an internal sales proposition for our client organisation. Our approach is to closely work with the client, developing medium to long term and multi-faceted improvement opportunities, which ultimately will provide the biggest return on investment (whether that be financial, accomplishment or future skills). All the services that we have to offer complement each other, and we specialise in improvisation, adding value to your business in turn affording you sufficient time to focus on the things that really matter. Get in touch with us today for a persuasive business case, or help with any element of business case development.