To build a compelling and solid business case a certain process should be followed. The depth of analysis and extent of documentation necessary to support the business case will vary depending on the initiative’s scope, costs, organizational impact, and risk.
Developing a business case is useful as it helps companies and organizations decide whether to invest resources in an idea. A business case is useful as it assists the company or the organization in deciding whether to:
Describe the situation and the business objectives your proposal will impact.
Brainstorm multiple approaches and choose three or four to analyze.
Examine how your options will affect the business objectives and choose one to move forward with.
Evaluate how you will mitigate risks associated with your recommendation.
Identify, at a high level, how you will achieve your goals and who will be accountable for each milestone.
Create a document, a presentation, or both, to sell your recommendation to decision makers.