What is a business case and how to write one (with template)

A business case is a crucial document that outlines the value a proposed project will deliver in relation to its costs, aimed at securing stakeholder support for significant initiatives. It serves to align a project with an organization's strategy, gain stakeholder buy-in, prioritize projects, and track outcomes. The guide outlines a four-step process for creating a business case: identifying the business need, exploring possible solutions, proposing the best approach, and outlining the implementation process. Key components of a business case include an executive summary, a clearly defined business problem, possible solutions, project definition, plan, scope, budget, roadmap, financials, risk assessment, and a list of stakeholders. While a business case is indispensable for large projects, it may be unnecessary for small or low-risk endeavors. It is distinct from a business plan, which outlines an entire organization's strategy and goals. A free template is provided to assist in drafting a business case, emphasizing the importance of presenting it effectively to stakeholders to ensure their support and alignment.