Business Case Analysis

Decent Essays
The business case, plan and project plan sounds similar to some and interchangeably used wherever possible. The research paper clarifies the definitions of the business case, plan and project plan and describe how these are helpful in project design and analysis. The research paper also discusses how these three key functions work with each other, depend on each other and what are the differences between them. To give an idea to a reader about the business case, there will be two business case scenarios are considered in a particular business. To better understand the business cases, the background information of the business has been provided. Upon choosing two business cases, one business cases addresses one issue and solution for that. The …show more content…
As defined by Schmidt, M. (2009), the business case looks into a problem or opportunity in a business and provide a strong argument to capture some attention or convince the decision maker to pursue the business action. The business case justifies the action required in the business with business cases. The further study on business cases does the cost-benefit analysis for the proposed solution. The primary element in the business case is analysis scenario that can provide the best and worst case scenario of the result. The business case analysis also specifies the cause and effect relationships with in the functions and project. The effective business case will discuss the non-investment process loses, along with the investment benefits. The business case will comply with the company’s goals and strategy. The more details of the business case were explained by Brannock, J. (2012). The structure of the business case consists of the following elements in it such as executive summary, project objectives, project alternatives, implementation plan and …show more content…
The business plan outlines the objectives, future of the company’s direction and how the organization is going to operate and evaluate the required financial steps to complete the project, whereas project plan is a strategy for achieving the goals within the timeframe and resources. The business case is the examination of opportunity in the business at the product level, whereas the business plan is the examination of opportunity at the company level. The business plan is the roadmap to solve the business case, which gives the detailed outline. The business case organized around a single product, whereas business plan organized more than one product or an organization. The business case can help us predicting the cash flow results and non-financial profits. The business plan helps us in predicting the business performance. The business case focuses on the objectives to achieve and the business plan focuses on the objectives of the organization. A cost model can be used in business cases, whereas business model used for the business plan. The business case measures the financial metrics and non-financial impacts whereas the business plan measures the business performance and

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