Business Case Template
Impress stakeholders and get buy-in with this complete Business Case Template. Cover all key elements of a business case and ensure your pitch is successful.
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About the Business Case Template
Steve Lydford, director at Codurance, developed this business case template to enable teams to visualize all the key components of a business case. When advocating for a project or getting stakeholder buy-in, developing a business case that is well articulated and compelling will increase your chances of getting funding and sponsorship.
This business case template is similar to the Business Model Canvas, except it focuses on the business problem and the tactics to solve it. It also shows how to implement your business plan, covering nine key areas.
How to use the business case template
Select the business case template and add it to your board. Once you have the template in place, fulfill each section of the frame, answering the questions for each. The structure of your business case canvas will look like this:
Problem: Identify the core issue your business aims to solve. Be specific and use data to back your claims. This section is your starting point and sets the context for your business case.
Solution: Describe your proposed solution to the identified problem. Ensure it is clear, feasible, and directly addresses the problem you've outlined.
Benefits: Outline the advantages your solution offers. Include both quantitative and qualitative benefits, such as cost savings, efficiency improvements, or customer satisfaction.
Scope: Define the boundaries of your business case. Specify what is included and, importantly, what is not. This clarity will help manage expectations and focus your plan.
Stakeholders: List key people or groups involved or affected by your business case. Understand their interests and how your plan impacts them.
Resources: Detail the resources required for your business case, including human, financial, and technical resources. Be realistic about what's needed to achieve your goals.
Risks: Identify potential challenges and risks associated with your business case. This foresight helps in developing mitigation strategies.
Costs: Provide a clear breakdown of the costs involved in your business case. Transparency here is crucial for gaining trust and approval.
Metrics: Establish metrics to measure the success of your business case. These could be financial metrics, customer satisfaction scores, or other relevant KPIs.
Pro tip:
Lead a workshop with your team to map out all these aspects of your business plan. If needed, make more than one business case canvas.
Color-code stickies with common topics that are connected.
If needed, leave comments and other stickies to clarify topics.
Why should you use a business case template?
Embarking on an entrepreneurial journey requires you to pitch your ideas to investors and gain support from others. The business case template provides a detailed analysis of your business and presents the core of your product or service in a clear and concise manner. This format is easy to read and helps stakeholders make informed decisions.
In addition, this template can serve as a visual aid in any presentation or pitch deck you create. It clarifies your business's main objectives and the strategies to achieve them. The business case analysis template can also serve as documentation for your team to refer to once things are up and running.
The purpose of the business case analysis template is to ensure that you have everything in place to establish your business. It also serves as a guide for managers and stakeholders to navigate through the entire business idea. Unlike the traditional business model canvas, which focuses on the strategic and tactical side of the business, the business case canvas is more about the core of the business and the benefits it will bring to the market and customers.
Do I need to make any changes to the template for each individual business case, or can I use it as it is?
While the template can be used as a starting point, it is important to customize it for each business case to ensure that it addresses the unique aspects of the proposed initiative.
Is it possible to add additional sections or information to the template if required?
Yes, you can add sections or information as necessary to meet the specific requirements of your business case. The template is a flexible tool that can be adapted to fit your needs.
Who is the intended audience for the business case template?
The primary audience includes senior management, decision-makers, and stakeholders who need to evaluate, approve, or reject the proposed initiative.
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