Business cases provide a clear framework for decision-making around where funds are being spent. This is the business case that every employee at Weel uses to get approval on spending moderate amounts of money and time. It’s easy and straightforward — you definitely don’t need to be a tenured Project Manager to use it. Once it's completed, we send it to our finance team for feedback and sign off.
A business case is a type of framework that can be useful when trying to encourage objective reasoning around where to invest resources into an activity. It outlines the rationale for the investment, including an analysis of the benefits and costs of the investment and what the expected return on investment is. The business case should provide enough information to enable an organisation to make an informed decision on whether or not to proceed with the project.
Our downloadable business case template is a Word document framework broken down into 6 different sections: Recommendation, Problem, Main supporting argument, Other options considered, cost and expected ROI and Next steps. For each section, we have easy-to-understand definitions that are easy for everyone in the business to follow.
Getting the best outcome
Whatever stage of growth your business is in, it’s important to acknowledge that every action you take has some kind of opportunity cost. Completing a business case encourages everyone to pause, deeply explore all avenues, remove emotion and objectively choose an option that has the best chance of success.
Strengthening collective knowledge
In a scaling team or large business, it can be easy for decision-making to become more decentralised, making it challenging for everyone to be across every decision that is happening in the business. Publishing a business case helps share this collective knowledge, and provides an archive to retrospectively examine why certain decisions were right or wrong.An invaluable skill
Lots of people are good at talking through ideas on the fly, but it’s a less common skill to be able to make a compelling argument through writing. Practising the art of writing business cases can help improve the skill of communicating thoughts, and articulating logic and data that sit behind arguments.Responsible spending is up to everyone in the company — from the new intern organising lunch, to the executive team travelling to an overseas offsite. Putting the right frameworks, policies and tools in place are key to helping everyone think like a CFO when it comes to spending company money.
Everybody Wins
Everybody Wins
