Business Case

Develop a complete business case for an idea. This may be a real example from your work environment or a fictional example from anywhere you choose. This must be submitted by week seven and I expect it will be based in large part on the results of the previous assignment from week two, Business Case Template Definition.I am uploading the my previous Business case
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Business Case
Business Case
Renee Randall
Wilmington University
4/22/2018
Business Case
Definition and application
A business case is a document detailing the requirements to move an idea from
conceptualization to project initiation. A business case is intended for educating the decision
makers and persuading them to take an action. A business plan, on the other hand, is a roadmap
or a guide for businesses that outlines the goals and objectives as well as the strategies for
achieving the goals.
A business case involves short-term actions that lead to immediate and observable
results. For example, an employee in a restaurant might notice that Monday evenings are not
productive and they get less than ten customers and making little money that does not cater for
the operational costs, talking to the owner about the issue will be persuading enough to enact a
business case of closing the business at 5 p.m on Mondays. For more complex issues, a business
case has to be carefully documented and it should provide detailed information about the benefits
involved in taking and action and the risks involved in either taking or not taking the action. A
carefully constructed business case provides the involved parties with multiple options and they
have a chance of choosing the best for the organization (Burns, Paul 2016).
The primary goal of a business plan is to describe what the business is all about and what
it intends to achieve after a certain period of time. Providing clear clarifications of the business
allows the company to understand the steps that need to be taken to achieve the goals. The
clarification can have a description of what the business is about, the products and services
offered by the business and what is involved in the whole process. It also consists a description
of the prospective customers that the company intends to serve.
Contrasts
Business Case
A business case is centered on a single action or a single decision with its alternatives that
will change the operations of the organization. A business case is often prompted by an
experience or an idea in a move to improve businesses or implement actions, it has alternatives
that the involved parties can choose from based on its practicability, significance, and
applicability. A business plan, on the other hand, covers the entire organization, a product line or
a single product. Unlike a business case, there are multiple decisions made on the chosen factor
that will be meant to change everything (Charles, Holliday, Stephan Schmidheiny, and Philip 2017).
Secondly, a business case focuses on the results of cash flow and other effects that are not
financial. The action should be able to predict the finance metrics like the Payback Period. A
business case focuses on the immediate results of the action that is projected through cash flows
and other aspects like the ROI. A business plan, on the other hand, is focused on the performance
of the business; a plan focuses on a long-term productivity and effects that will result from the
implementation of the plan. A business plan predicts major financial statement aspects like longterm profits and revenues as well as the annual financial statements of future years
A business case focuses on the objectives of the action while a business plan focuses on
the objectives of the entire business. For a business case, an action and its related scenarios are at
the center of decisions and the objectives of the specific actions are carefully analyzed. For a
business plan, on the other hand, the business entities, as well as strategies, are centered on; these
include all actions that will lead the organization to fulfill their long-term goals.
Similarities
The similarities of the two are like asking about the similarities of a mango and an
orange, they have different components, shapes, and structures but they all serve the same
Business Case
purpose. Just like the examples, the two serve the same purpose. Whether a long-term or a shortterm goal, a business case, and a business plan aim at improving the productivity and efficiency
of a business, the two keep their focus on vision, strategies surrounding the business goals,
financial calculations, the vision and the business itself. Both the business and the business plan
have an aim of improving the business and as mentioned above, they use different strategies and
objectives but with the main aim of improving the business (Burns, Paul 2016).
Both the business case and the business plan are profitable, the two work at ensuring that
it brings profitability to the organization. A business case primarily looks at the immediate
profitability by implementing actions and decisions that immediately affect the business. A
business plan, on the other hand, employs strategies and objectives that will affect the business
or start a new business as it gets implemented but they both bring profitability. Ideally, the two
have the same goal.
Business case template
www.nic.nhs.uk/Nic.Common/file.ashx?path…Business+Case+Template+v2+NIC.
The business case template chosen include the following details in it:
•
The executive summary: this is ideally the summary of the business case, what the
business is about, the goals that are aimed at and a précis of the financial metrics
•
The introduction and the overview: this provides the clarity of the case which includes
the setting, context and its background. It clarifies the needs and the problems in the
requirements as well as all the relevant issues in the case.
•
Market analysis: a full market analysis of the competitors, emerging technology helps in
identifying the best choice for investment.
Business Case
•
Assessment of Benefits: this determines whether the project is necessary or not and
whether seeking funds for it are necessary.
•
Cost/Benefits Analysis: This will plainly distinguish the financial costs advantage against
the venture that is being made. This should comprise of a rearranged introduction of the
financial related cost/benefit evaluation.
•
Options Appraisals: various options are included based on the risks, benefits, and
disadvantages of each one of this guides in seeking the best for the case.
•
Key Assumptions and Dependencies: key assumptions and dependencies that might
affect the entire project should be identified
•
Risk and Sensitivity Analysis: this involved the chances that are taken when the case is
implemented
•
Resource Requirements and Cost: this includes the resources and funds needed for the
project.
•
Funding Source/ Timing/ Certainty: this includes the projected source of funds, when
they are needed and how they are to be received
•
Timescales: this includes the time in which the case if projected to be completed
•
Comments/ Issues: this is the issues and scenarios that are additionally surrounding the
case/
•
Conclusions/ Recommendations: this is bringing the document to a close by stating all
the findings and the recommendations
•
Appendices: these are the figures, calculations and other reference materials used.
The template was chosen because it is simple and easy to follow, the template provides a
flow of ideas that are easy to follow and allow a business to effectively note down everything at
Business Case
the same time, the template is detailed, everything needed by sponsors and other parties
interested in the project will find everything relevant to it is also convincing because it contains
realistic values and information about the project.
Works Cited
www.mypmllc.com/project-management…/free…templates/business-case-template/
www.https://mplaza.pm/prince2-business-case-template/
Business Case
Burns, Paul. Entrepreneurship and small business. Palgrave Macmillan Limited, 2016.
Charles Jr, O. Holliday, Stephan Schmidheiny, and Philip Watts. Walking the talk: The business
case for sustainable development. Routledge, 2017.

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