Free guide to business case proposal template

If you want to convince someone to invest in a new project or idea, you need to make a strong business case proposal.

A business case proposal is a document that outlines the details of a potential project, including its objectives, benefits, costs, risks, and timeline. A well-written business proposal can help you secure funding, resources, and support from stakeholders and decision-makers.

In this article, we will focus on the key elements of a business case proposal. Then, we’ll provide a template you can use to create your own.

What is a business case?

A business case is a document that outlines the benefits, costs, risks, and potential outcomes of a proposed business initiative. It presents a persuasive argument for why a particular project or idea is necessary and why the organization should support it.

A business case typically includes an analysis of the organization’s current state and the proposed initiative’s potential benefits. It is a detailed breakdown of the costs and risks associated with the project.

Why you need a business case

To justify the investment

A business case is essential for justifying the investment in a new project or initiative. It provides decision-makers with a clear understanding of the project’s potential benefits, costs, and risks. This will allow them to make an informed decision about whether to invest in it or not.

To ensure alignment with strategic objectives

A business case helps ensure that the proposed initiative is aligned with the organization’s overall strategic objectives. It provides a framework for evaluating the project’s potential impact on the organization’s goals. This allows decision-makers to ensure the project aligns with the organization’s overall strategy.

To identify potential risks and challenges

A business case helps identify potential risks and challenges associated with the proposed initiative. By making a list of possible risks and problems, decision-makers can come up with plans to reduce or manage these risks. This will make sure the project is a success.

To establish accountability

A business case establishes clear accountability for the proposed initiative. By outlining the roles and responsibilities of stakeholders involved in the project, a business case ensures everyone is clear on their commitments. They know what is expected of them.

When to use a business case

New project or initiative

A business case is typically used when proposing a new project or initiative. It is essential for justifying the investment in the project and ensuring that it aligns with the organization’s overall strategic objectives.

Change in business process

A business case is also valid when proposing a change in a business process. It can help identify potential risks and challenges associated with the change. It can also provide a framework for evaluating the potential benefits and costs of the change.

Capital investment

A business case is commonly used when proposing a capital investment, such as new equipment or technology. It provides decision-makers with a clear understanding of the potential benefits and costs of the investment. This helps them make an informed decision about whether to invest in the project.

Expansion into new markets

 A business case can also be used when proposing an expansion into new markets. It can help identify potential risks and challenges associated with the expansion. It can also provide a framework for evaluating the potential benefits and costs of the expansion.

What is a business case proposal template?

A business proposal template is a standardized document that provides a framework for creating a persuasive argument for a business project or idea. It outlines the key elements that must be included in a business case, such as the objectives, benefits, costs, timeline, risks, and conclusion.

A business proposal aims to convince decision-makers to support and fund a particular business initiative. This may include requesting funding for new product development, proposing a new marketing campaign, or proposing a change in organizational structure. The proposal should present a clear and concise argument for why the project is necessary. It should show the benefits it will bring and why it is a priority for the organization.

Element of a business case proposal template

Executive Summary

The executive summary is the topmost part of your business proposal, and it should provide a brief overview of the entire document. Your executive summary should be no more than one-page long and should include the following information:

• Brief introduction to the project
• Objectives of the project
• Expected benefits of the project
• Estimated costs of the project
• Timeline for the project
• Risks associated with the project
• Conclusion and recommendation

The goal of the executive summary is to give decision-makers a quick overview of the project. It will convince them to read the rest of the proposal.

Introduction

The introduction should provide more detail about the background and context of the project. You should explain why the project is necessary and what problem it aims to solve. You should also include any relevant background information, such as market research or industry trends, that support the need for the project.

Objectives

In this section, outline the specific goals and objectives of the project. Your objectives should be specific, measurable, achievable, relevant, and time-bound (SMART). You should also explain how these objectives align with the overall strategic goals of your organization.

Benefits

In this section, explain the project’s benefits to your organization. Benefits can be financial, such as increased revenue or reduced costs, or non-financial, such as improved customer satisfaction or increased employee morale. Using data and metrics to support your claims, you should also quantify these benefits wherever possible.

Costs

In this section, you should provide a detailed breakdown of the costs associated with the project. This should include all direct and indirect costs, such as equipment, materials, labor, and overhead. You should also have any potential cost savings or revenue streams from the project. You should present this information clearly and concisely, using tables or charts if necessary.

Timeline

In this section, you should provide a timeline for the project, including key milestones and deadlines. You should also explain any dependencies or critical path items that could impact the timeline. It’s essential to be realistic with your timeline, considering any potential delays or unforeseen obstacles.

Risks

In this section, you should identify and assess the potential risks associated with the project. Risks can be internal, such as resource constraints or technical challenges, or external, such as changes in market conditions or regulatory requirements. You should also provide a plan for mitigating or managing these risks, including any contingency plans that may be necessary.

Conclusion and Recommendation

In the final section of your business proposal, you should summarize the document’s key points and provide a clear recommendation. This recommendation should be based on a thorough analysis of the costs, benefits, risks, and timeline of the project. You should also explain why the project is a priority for your organization and why it deserves funding and support.

Tips for Writing a Successful Business Case Proposal

Writing a successful business proposal requires a combination of strategic thinking, effective communication, and attention to detail. Here are some tips to help you create a compelling proposal:

Know your audience

Before you start writing your proposal, take the time to understand your audience. Who will be reading your proposal, and what are their needs and priorities? Tailor your proposal to your audience and highlight the aspects of the project that are most relevant to them.

Be clear and concise

Your proposal should be clear, concise, and easy to read. Use headings, bullet points, and other formatting techniques to make your proposal easy to navigate. Avoid jargon and technical language, and use plain language wherever possible.

Use data and evidence

Use data and evidence to support your claims and quantify the benefits of the project wherever possible. Use case studies, research, and other evidence to demonstrate the need for the project and its potential impact.

Address potential objections

Anticipate potential objections and address them in your proposal. Explain how you will mitigate any risks or challenges associated with the project, and provide evidence to support your claims.

Focus on the benefits

Focus on the benefits of the project and how it will add value to your organization. Use concrete examples and case studies to illustrate the potential impact of the project.

Be realistic

Be realistic with your timeline and cost estimates, and take into account any potential delays or obstacles. This will help you build credibility with your audience and demonstrate that you have thought through the details of the project.

Business Case Proposal Template

Executive Summary

• Brief introduction to the project
• Objectives of the project
• Expected benefits of the project
• Estimated costs of the project
• Timeline for the project
• Risks associated with the project
• Conclusion and recommendation

Introduction

• Background and context of the project
• Explanation of why the project is necessary
• Relevant background information, such as market research or industry trends

Objectives

• Specific goals and objectives of the project
• Objectives that are specific, measurable, achievable, relevant, and time-bound (SMART)
• Explanation of how these objectives align with the overall strategic goals of the organization

Benefits

• Explanation of the benefits that the project will bring to the organization
• Benefits that are financial or non-financial
• Quantification of these benefits wherever possible, using data and metrics to support your claims

Costs

• Detailed breakdown of the costs associated with the project
• All direct and indirect costs, such as equipment, materials, labor, and overhead
• Potential cost savings or revenue streams that may result from the project
• Presentation of this information in a clear and concise format, using tables or charts if necessary

Timeline

• Timeline for the project, including key milestones and deadlines
• Explanation of any dependencies or critical path items that could impact the timeline
• Realistic timeline, taking into account any potential delays or unforeseen obstacles

Risks

• Identification and assessment of potential risks associated with the project
• Internal risks, such as resource constraints or technical challenges, or external risks, such as changes in market conditions or regulatory requirements
• Plan for mitigating or managing these risks, including any contingency plans that may be necessary

Conclusion and Recommendation

• Summary of the key points of the document
• Clear recommendation based on a thorough analysis of the costs, benefits, risks, and timeline of the project
• Explanation of why the project is a priority for the organization and why it deserves funding and support

Final thoughts

A well-written business case proposal can be a powerful tool for securing funding and support for a new project or idea. By following the template and tips outlined in this article, you can create a compelling proposal.

This will highlight the benefits of the project and addresses potential risks and challenges. Remember to focus on your audience, use data and evidence to support your claims, and be clear and concise in your writing.