What is a business case, and why should you create one?
A business case is an important element of business planning. Its purpose is to justify a specific investment of resources and benefits for a new initiative or project inside an existing organization relative to existing projects and other opportunities. You can think of a business case as a way to measure opportunity costs of one initiative over another. Figure 7-1 shows the process for developing a business case. Firms use business cases to weigh the costs and benefits of a project relative to the decision-making process.
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