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What is a Business Case?
A business case is a project management document that describes how the benefits of a project exceed its costs and why it should be accomplished. Business cases are scheduled during the project initiation phase. They are planned to cover all the objectives, costs, and benefits of the project to understand its value.
A business case requires collecting the financial evaluation, proposal, strategy, and marketing plan in one document and providing a complete overview of how the project will benefit the organization. Once the project stakeholders approve your business case, you can begin the project planning phase.
Critical Elements of a Business Case
One of the crucial steps in forming a business case is to have a business case checklist. The following is a fundamental outline to follow when growing your business case.
1. Executive Summary
The executive summary is an abridged understanding of each section of your business case. It is used to give stakeholders a brief overview of your project.
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This section is meant to deliver general information about your project, such as the business purposes to be achieved and an outline of the project plan.
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