A Business Case provides justification as to whether an initiative is worth investing in.
It assesses whether the benefits are greater than the costs and whether the change initiative is viable.
The overseeing body is responsible for the Business Case and ensuring it remains viable throughout its lifecycle (not just at the point of approval).
The different elements to consider in a Business Case can be seen on the diagram.
The Business Case process comprises of four stages:
- Strategic Outline Case
- Prima Facie Business Case
- Full Business Case
- Post Investment Review
Each stage is aligned with University decision points.
Hints & Tips
- In Define the Scope, you will have explored the scope and impact of the initiative. The Scope Considerations document will help to ensure all key aspects have been considered. This is an essential input to your Business Case as it will influence the elements in the diagram above.
- A Gateway Review helps the overseeing body assure itself that the Business Case remains viable.
- The Business Case needs to ensure the academic or service need is understood e.g. why is the building or IT system needed? Ensure the rationale for the initiative is understood.
- For more information on the overseeing body, please see the Oversight section of the guide.