A business case captures the reasoning for initiating a project or task. It is often presented in a well-structured written document or presentation. The logic of the business case is that, whenever resources such as money or effort are consumed, they should be in support of a specific business need.

Business cases can range from comprehensive and highly structured, as required by formal project management methodologies, to informal and brief. Information included in a formal business case could be the background of the project, the expected business benefits, the options considered (with reasons for rejecting or carrying forward each option), the expected costs of the project, a gap analysis and the expected risks. Consideration should also be given to the option of doing nothing including the costs and risks of inactivity.

How to create a Business

Organizations follow different formats and structure to prepare a business case. But the main relevant data should be included and considered. Below are some steps to prepare business case.

Identify the Business Problem

Usually, projects are undertaken to solve a particular business problem or opportunity. So you need to investigate that business problem or opportunity and describe what it is, how it’s come about and the timeframes in which it needs to be addressed.

Only with this knowledge, will you truly understand the purpose of the project and the timeframes for delivery. Without this knowledge, it’s like building a house without a solid foundation.

Recommend a Preferred Solution

From the available solution to resolve the issue or gain a business benefit suggest that in business case. With valid ranking and cost benefits.

Describe the Implementation Approach

You have selected a solution and you have confirmed its benefits and costs. The next step is to convince your Project Sponsors that you have thought through the approach for implementing it. So document the steps you’re going to take to build the solution for your client.

Ref:-Wikipedia