The project Business Case is the first
major process deliverable of the project management process,
utilized to present and propose “project concepts” in a standardized
format designed to focus on business value and viability.  It’s
the means by which you can advocate and “make the case” for your idea to go from
“concept” to “project“.  It’s an important deliverable, and it
must be done right.  Read on for more.

The project business case is an “originating�? deliverable, produced at a time when a need
has been realized, and a potential solution determined, but the delivering project
has not yet been approved or initiated. The primary purpose of the business
case is to present the need and the solution, and to obtain approval,
funding and commitment for the proposed project.  (Also Read:
Practices for Project Selection)

Make the Case for Your Project….

A well conceived business case will convey sufficient information
to convince decision makers that the proposed project should be approved.
Approval is not a given. In fact, not every proposed project can or
should be approved. Considering cost, time and resource constraints,
choices have to be made, and sometimes, even good ideas have to be set
aside or postponed. Projects are never proposed with 100% certainty,
and in fact, business case approval does not guarantee that a given
project will actually see completion. Business case presentation and
approval is but the first step in the overall process.

As such, at a minimum, every business case deliverable must answer
one key question — Is this proposal sufficiently sound, important and
relevant to warrant further expenditures for planning and analysis?

An effective business case will get you to the next appropriate step.
In certain cases, the approved business case will lead to the initiation
of actual project tasks. In other cases, the approved business case
will lead to more intensive study and planning. It’s all about moving
forward to make informed decisions.

Every Business Case Has A Mission….

While length and complexity will vary, every project business
case must be created to serve a specific “mission” and purpose
within the project management process.  This is expressed in
the six point list below:

1. The business case mission is to make a sufficiently compelling
   case for approval.
2. The business case must explain what is to be done and why it
   is necessary.
3. The business case must convince the decision makers that the
   idea is well thought out and considered.
4. The business case must convince the decision makers that the
   project proposal is realistic and that the plan is credible and
   executable.
5. The business case must lay out all key elements of the project
   in terms of results, costs, benefits and risks, both for action
   and inaction.
6. The business case must justify the investment in time, funds
   and resources.

Producing Business Case Deliverables

The business case deliverable must sell the project, and it’s a “sale�?
you want to make. And it takes planning and strategy to get the job
done. Your first step is to match business case “effort and content�?
to the “size and scope�? of the proposed project. Projects vary by multiple
factors, including type, cost, duration, complexity, visibility, priority,
risk and value. Just as with any other process deliverable, the business
case must reflect the overall “scale�? of the project being proposed.
Process overkill can damage a small project in the same way that insufficiency
can doom a large scale project.

It is important to be appropriate, but
consistent.  (Also Read: 
Understanding Project and
Process Deliverables)

To that end, the project business case must present both “the
need�? and the “proposed solution�? expressed in terms of goals,
objectives, needs, anticipated benefits, status quo analysis, risks,
constraints, performing organization capabilities, cost/benefit
analysis and related matters.  And, as it is prepared, it must
travel a road to ensure proper feedback and approval:

1. All of the business case “stakeholders” should be identified
   and selected according to interest in the project proposal and
   ability to contribute to business case production.
2. The “business case” production process should be planned,
   with established deadlines, due dates, task assignments and an
   organized production scheduled.
3. Business case production work should not begin until all
   required data has been collected and organized (to minimize time
   wasted).
4. The business should first be prepared as a “draft”, subject
   to vigorous review, input and revision as needed.  Version
   control is essential to track changes and ensure that everyone
   is on the same page.
5. Formal procedures should be established for submission of
   the final business case for review by the decision making
   stakeholders (which can include a
   PMO or
   project steering
   committee).

---

---

Once the business case deliverable is produced, it should be
evaluated using standardized criteria to measure concept viability
and to determine whether the case has been made to go from “concept”
to “project”.  If a given business case is approved, the next
step is project definition (to
make the project ready for action and stakeholder acceptance).

---

CHECK OUT THE FAST TRACK PROJECT TOOLKIT.

If you’re looking for a fast, easy way to achieve project planning success, you’ll find it inside
the Fast Track Project Toolkit. This unique, informative online course gives you everything you need to become
a project leader and fast tracking expert. Here’s what you’ll learn:

• How to plan and govern projects using strategic project fast tracking.

• How to use strategic project fast tracking to save time and make the most of available resources.

• How to use strategic fast tracking to overcome project constraints and limitations.

• How to use strategic fast tracking to negotiate with stakeholders and build shared expectations.

• How to use strategic fast tracking to become a more productive project manager and team member.