Business Case Analysis is a comprehensive process for assessing an organization’s current state and projecting the future success of a particular project or venture. It involves conducting research, developing financial models, and analyzing data to weigh the risks and opportunities associated with potential investments. Understanding how to perform practical business case analysis can help organizations make better decisions that lead to higher profits and increased shareholder value.
The first step in conducting a business case analysis is identifying the problem or opportunity that needs evaluation. This requires researching industry trends, market conditions, customer preferences, competitor strategies, etc., to gain meaningful insights into the potential investment decision. Once the problem has been identified, it’s important to define specific goals that should be accomplished to assess whether the proposed solution is viable.
Identify all major stakeholders who may be impacted by the proposed changes and their respective interests in relation to them. Consider how they will react when presented with new opportunities or challenges from your proposal.