Strategic Business Case Development

What is a Strategic Business Case Development?

Strategic business case development translates a business idea into a well-structured, data-driven plan that supports informed decision-making and long-term growth. It involves identifying key objectives, analyzing risks and opportunities, and presenting a compelling case for investment or change.

In a proper business case development process, you will identify the business problem and alternative solutions with a recommendation of the preferred solution. Lastly, you will detail the implementation approach.

The Five Business Cases model is strategic, socioeconomic, commercial, financial, and management. The purpose of the business case is to ensure that programs and projects meet their intended objectives and deliver their intended benefits by making sure schemes:

• A robust case for change – the ‘strategic case.’
• Optimize Value For Money regarding economic, social, and environmental use – the ‘socioeconomic case.’
• Are commercially viable – the ‘commercial case.’
• Are financially viable – the ‘financial case.’
• Are achievable – the ‘management case.’

The business case document or presentation communicates high-level information relevant to a critical decision. Developing business cases offers real advantages:

• The business case helps to identify and evaluate alternatives and to compare their relative costs and benefits. A business case is a tool for strategic planning and decision-making.
• The business case outlines the organization’s plan for the project – risk, return, the investment required, time and financial break-even, and other elements.
• In aligning stakeholders’ expectations to the project’s approach, outcomes, and benefits of an initiative.
• It increases the likelihood of a project’s success criteria aligning with the business case.
• The business case can be turned into a project plan. It highlights the project’s milestones and how to apply the project resources.
• It is easier to see success as illustrated against the business case.
• The strategy section contextualizes the business case, explaining why the organization is looking to invest.
• The justification gives a detailed breakdown of the investment’s costs, revenue, and net impact, presenting the case for the investment.
• It explains the risks and opportunities associated with the recommendation.
• Projects only succeed with a solid business case to support them. The business case document is necessary to start a project and is the basis for the project charter and project plan.

CORBEAU can help create a business case for your organization’s initiatives, but moreover, it can up-skill internal resources in the process, allowing for a far better result. We will come in, help build up, and quietly exit, knowing the organization is stronger and more capable because of our rapid engagement.