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The business case is the key document for your project. If the financial case does not stack up at the each of the decision gates then it is unlikely the objectives will be met and in turn the benefits will not be fully realised.

So what are the key points to producing and maintaining a business case?

Timing
The business case is a living document that is revised and updated when new information is discovered. The case will likely be initiated following a feasibility study where ballpark figures are developed. These will be revisited and updated at each decision stage (development, implementation) as a fuller picture emerges of the costs and the benefits.

Once the solution has been in operation for, say, six months the business case should be reviewed against the predicted and any realised benefits. This is an opportunity to take steps to correct or improve.

The Make Up of the Business Case
In short the document will centre around the cost/benefit analysis and the risk assessment.

It will start with an ‘Introduction’, ‘Management Summary’ move to the ‘Description of the Current State’ and the ‘Options Considered’. Then the financial, risk and impact assessments follow and ends with clear ‘Recommendations’ that the decision makers are being asked to decide on.

Supporting information (statistics, growth charts) should be included in an appendix (‘Decision Support Pack’) ensuring the main points are clearly visible in the main body of the document.

Presenting the Case
This is a crucial part of the project, the written document will be issued and then discussed face to face. For both, knowing your audience is essential. This requires homework to discover what they like and dislike in the structure of the case and what their likely objections to the project as a whole will be.

Meeting the decision makers individually early in the project to answer these questions and build a relationship is necessary. As the project evolves the relationships between the decision makers and senior project staff will need to be maintained.

The decisions taken will swing on the business case but the projects reputation has a big part to play. At all times be conscious of how the project appears to the senior managers. Presentation is crucial.

You are probably familiar with a situation where everyone will agree a problem exists and a solution needs to be found, but getting all the parties to agree and act in the best way to solving that problem is another matter.

This is a where an ‘Approach Document’ comes in. This document will describe in a considerable amount of detail the ‘What? Why? Who? How? When?’ of the project.

Answering these questions and securing the agreement of all parties to the answers will establish the project on a firm footing.

What?
Project scope and objectives

Why?
Justification – the business case – the financial and risk analysis

Who?
Roles and responsibilities – define clearly individuals’ tasks and what is expected of them including the decision making process for the steering group

How?
The structure and members of the project team
The planning of the project
Project communications – what will be communicated to whom and when

This document can come in other guises such as a Project Charter or Project Initiation Document.

Spending time focusing minds on getting these aspects agreed will ensure a strong start to your project.