Quantifying both financial and non-financial benefits in your business case is paramount. Depending on the investment size and intricacy, the required depth of analysis will vary. Cost-benefit analysis, a significant component, often determines the project's fate. Our financial templates for business case development delve into detailed financial aspects, ensuring no hidden costs or benefits are overlooked.
How Much Information Is Required to Get the Business Case Approved?
For significant investments and high-risk projects, the preliminary business case is the first step in making the full business case. Preliminary business cases determine if the full business case is required, where the project merits are investigated in full detail. The preliminary business case cost estimates have a 20% tolerance, whereas the full business case costings have less than a 10% tolerance.
Cost-benefit analysis is one of the most critical parts of a business case as it is often the costs or savings a project yields which achieves the final approval to go forward. We use a set of discounted cash flow templates for financial, scenario and sensitivity analysis.
The detailed financial spreadsheets show precisely what costs, benefit information, and evidence is required; so that you do not miss any of the hidden costs or benefits.
