All projects in any industry or sector would require a business case to follow best practice. The information in that document is the ‘argument’ for spending time, money and effort to an agreed standard on that initiative. A business case is created at the start of the project and reviewed at regular intervals to ensure that the project is still viable. Viability means that there is a good likelihood that the project will achieve what has been aimed for with the resources and plan set out at that time of review. When a business case appears to not be viable anymore, there needs to be serious discussions about how to change the aims and related plans or stop the project because it’s unlikely to achieve its goal.
What Should a Business Case Include?
Most commonly there are seven themes of focus – which could have differing titles. Other sections can be included more specific to the business supporting the project, or the funder providing the template (so that there is a quick fit to their submission requirements).
The themes to focus on are:
1 – Needs
- why this initiative, why now,
- what issue are you addressing,
- who is affected,
- provide evidence to quantify if possible,
- provide a ‘what if’ the need isn’t able to be met.
2 – Project Approach and Outcomes
- list inputs (may be called ‘requirements’),
- outputs (think of tangible completions of the project work),
- what success would look like [outcomes] using SMART,
- how will data and feedback be collected,
- include alignment to which Sustainable Development Goal (or metric more relevant to your initiative).
3 – Budget and Milestones
- provide specific forecasts for costs (financial and person effort) for the life or duration of the project.
- you may wish to align the forecasts to specific milestones from the project plan or to phases, which may be more appropriate if your project has several large groups of activity linked to big outputs to monitor and report against.
The Project Plan and Budget Plan templates are available to develop the details of this focus area.
4 – Organisation
- the ‘governance’ structure for decision making accountability,
- who are the points of contact for specific responsibilities.
The development of the Stakeholder Map before or alongside the business case makes describing this much easier. A specific template for Project Team is also available.
5 – Resources and Partnerships
- involved individuals or groups to complete project work or provide guidance, contracted support, or advocacy.
Again, the development of the Stakeholder Map before or alongside the business case makes describing this much easier.
6 – Risks and Challenges
- define the top risks and concerns that will need mitigation (specific action to help make the risk or concern less likely to happen or have a negative outcome).
The development and maintenance of the RAID log before or alongside the business case makes singling out the top ones to include within the business case a lot easier.
7 – Sustainability
- how will outcomes continue to be realised.
- may also be called the ‘benefits realisation’ of traditional project management.
- Once the project has completed the outputs, and together their sum provides a successful outcome (see Project Approach and Outcomes above), then it is the longer-term question about how the legacy of the project will continue to make difference into the future.
Key message you are aiming to evidence: The project will end, but there is sustainability commitment to continue enabling positive benefits.
Common Mistakes That Make Business Cases Less Effective
- Woolly metrics for the outcomes
- Organisation structure that is not formalised to accept funding at an appropriate accountability level
- Generalised sustainability plan i.e. budget and resources not thought through enough to understand how this focus point needs to remain viable.
- Not assessing effectively and regularly risks and challenges through the RAID log and flagging issues or problems if they jeopardise how the business case remains viable.
Frequently Asked Questions
How long should a Business Case plan be?
Most are 1-2 pages. Key point is identification and effective summary including metrics where needed. Viability testing throughout the duration of the project needs to be against specifics, not generalisations.
Do I need a project plan before the Business Case?
Not necessarily. They can evolve in parallel. Often projects start off with a list of things to do and people that are needed and goals. The development of the Business Case, Stakeholder Map, and Project Plan organise
these ‘random’ elements into a potentially successful project.
Can a small community group write their own Business Case without a consultant?
Yes – with the right template and framework, this doesn’t require project management experience or an expensive consultant. That’s exactly the gap Ecomaris’ tools and templates are built to close – and why the templates are editable to your needs. If you already know of the funders you wish to submit to, research what they need to see in a business case. Edit the Ecomaris template to the needs of that funder, and any other funders. Streamline your effort!
How long does it take to write a Business Case plan?
For a small community project, expect a week of part-time work using a template. Without one it commonly takes much longer simply from not knowing what to include. This task is one based on a lot of reflection so start the document, put it away for a while, then come back to it again for edits. Several iterations like this will build the strength of the business case! In between edits you have the chance to speak to others and gain specialist guidance, and any lingering uncertain elements in your mind have the opportunity to become clearer, specific and concise.
Next step
If interested in learning more about Stakeholder Mapping, please read the related article. Download the
free Stakeholder Map for a ready-to-use template. Contact Us to ask a question or arrange to talk through your project.