A business case is a document that outlines the justification for a proposed project or initiative. It is often used to secure funding from upper management or investors, and as such, it should be clear, concise, and persuasive. If you need to write a business case, there are some key things to keep in mind.
Usually this would be done when you need:
- invest in a new surveying equipment (total stations, scanners or GPS)
- buying or renting an office
- large purchases for your land surveying business
- employing a land surveyors full time
This blog post will explore how to write a business case, including some tips and tricks to make your case more compelling.
What is a business case?
In business, the term “case” refers to a specific situation or set of circumstances. A business case is a document that outlines the justification for a proposed project or initiative. The business case should describe the problem or opportunity, define the goals, and identify the options that were considered. It should also include an analysis of costs, benefits, and risks. The business case should be based on data and evidence, and it should be clear and concise.
Why do you need a business case?
A business case is a document that justifies the need for a project or initiative. It outlines the proposed project’s benefits and provides evidence to support the investment.
The business case should ideally be developed before any work on your construction project begins. It is important to get buy-in from stakeholders early on in the process. These can be the land owner, investor, council, or anyone who would be affected from the project. The business case should usually be revisited throughout the life of the project to ensure that it remains relevant and achievable.
There are many benefits of having a business case for a project. It can help to:
- Define the problem or opportunity
- Set out the goals and objectives of the project
- Identify who will benefit from the project
- quantify the expected benefits
- Prioritise and sequence activities
- Allocate resources
- Monitor progress
- Quickly explain the outturn and purpose of the project
- Evaluate results
How to write a business case
There is no one-size-fits-all answer to this question, as the content of a business case will vary depending on the specific industry and company involved. However, some key elements should be included in any business case, in order to make it as clear and convincing as possible.
Firstly, it is important to provide an overview of the current situation facing the company or individual, and why a change is needed. This should be followed by a proposed solution to the problem, which should be detailed and well thought-out. The potential benefits of implementing this solution should also be outlined, in order to demonstrate how it could improve the company’s bottom line. Finally, the costs associated with implementing the proposed solution should be estimated, along with a timeline for doing so. By including all of these elements, a business case can give decision-makers the information they need to make informed choices about whether or not to proceed with a particular course of action.
Tips for writing a successful business case
A business case is a document that describes the justification for a proposed project or initiative. A well-written business case can help decision-makers understand a project’s potential benefits and risks, and make an informed decision about whether or not to proceed with it.
Here are some tips for writing a successful business case:
1. Define the problem or opportunity
The first step in writing a business case is clearly defining the problem or opportunity the proposed project will address. What is the current situation, and what are the specific challenges that need to be addressed? Be as clear and concise as possible in defining the problem.
2. Outline the proposed solution
Once the problem has been defined, it’s time to outline the proposed solution. What are the objectives of the project, and how will it address the challenges that have been identified? Again, be as clear and concise as possible in describing the proposed solution.
3. Describe the potential benefits of the project
What are the expected outcomes of the project? How will it improve efficiency, generate new revenue, or otherwise benefit the organization? Make sure to quantifiable where possible, e.g., “reduce costs by 20%.”
4. Assess risks and potential roadblocks
No project is without risk, so it’s important to identify and assess any potential risks associated with your proposal. What could go wrong, and what are your contingency plans? Addressing these questions upfront
Conclusion
The business case is a document that sets out the rationale for taking on a new project or initiative. It should outline the expected costs, benefits and risks associated with the proposed venture. A well-written business case can be crucial to securing funding and buy-in from key decision-makers. If you’re looking to write a business case, start by researching similar documents online and in your company’s archives. Use this research to help you structure your business case, and be sure to include all of the necessary information decision-makers will need to make an informed decision. With a little effort, you can ensure that your business case makes a strong argument for taking on your proposed project or initiative.