How to Write a Business Case in 2026 (with Example)
In the era of tightened budgets and having to do more with less, the ability to write a clear and compelling business case has never been a more important skill to cultivate in the workplace. This article will explain what a business case is and how to write one in today’s challenging economic climate.
What is a Business Case?
A business case is a document or a presentation that outlines all of the reasons for starting a project or initiative. It explains why a project should be done, what it will achieve, how much it will cost, and what the return on investment (ROI) or value will be.
You can think of it as a structured argument to help decision-makers understand the benefits, costs, risks, and alternatives of a proposed course of action. This way, they can decide whether or not to move forward with the project or initiative.
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In the corporate world, with competing stakeholders and priorities, a business case can help leaders objectively evaluate proposed projects from the teams and business units they oversee. This can help to both level the playing field and allow leaders to objectively evaluate potential projects. Everyone gets a fair shot, and the best-made cases are the ones that get funded or greenlit.
Why are Business Cases Important to Use and Master?
Business cases force you to evaluate whether an idea is worth the time, money, and effort. They provide a clear picture of the potential return on investment (ROI), so you’re not just acting on instinct or vague assumptions.
If you want your leadership team, potential clients, or partners to fund or support your idea, a strong business case gives them the confidence that the proposal is well thought out and aligned with bigger goals.
It answers the key question: Why should we do this?
When Should You Write a Business Case?
The more often you can write a business case, the better you will get at crafting a compelling argument when it really matters.
The best time to write a business case is during the project initiation phase. Until the business case is solid (and approved), there is no chance you will be able to move into the next phase, which is project planning.
Another instance where business cases can aid in decision-making is when your organization is at a stage where multiple projects or potential solutions to an issue could be undertaken, but you have limited resources (personnel, time, project budget, etc.). Having a solid business case and documenting the expected benefits of each project can help you and your team decide which projects to move forward with.
For example, let’s say your company is trying to decide whether to invest this year’s marketing budget in a new website, additional advertising, or implementing HubSpot. All of these activities could bring in growth and great results, but you can only choose one. Solid business cases can help you evaluate which one to start with (and why).
Step-by-Step Guide to Writing a Business Case
By now, it should be pretty clear why business cases are important, but if you’ve never written one, you might not know how to get started. That’s okay! Here is a nine-step process you can follow to produce a complete and thorough business case for any project or initiative!
1. Executive Summary: While this will be the first thing your audience reads, you want to make it the last thing that you actually write. It will be a summary of the next eight sections. Think of it as the TLDR of your business case. If your reader only reads this part of your business case, they should be able to get the main points.
2. Problem Statement / Opportunity: This section should outline the problem you are trying to solve or the opportunity your initiative supports. In this section, explain clearly the pain points or opportunities. For example, if we’re writing a business case for a new website, this is where you want to discuss the shortcomings of your current site, not your proposed solutions (but don’t worry, that will come later).
3. Project Alternatives: When it comes to evaluating your business case, you and your key stakeholders need to make sure you have evaluated all of the possible options and alternatives. Remember that “do nothing” is also a possible option, so address what could happen if you don’t undertake this project or another solution.
4. Recommended Solution: Now that you have laid out all of the possible options in the section above, you want to make the case for your recommended or preferred solution. Demonstrate why this solution is better than any of the alternative solutions, and show that you have carefully considered all of your options.
5. Cost-Benefit Analysis: If “Show me the money” were a section in your business case, this is where it would be. Outline the ROI, expected revenue increase, or any qualitative benefits that will come from this new project or initiative. This is an opportunity to really sell it. Who wouldn’t want to see an extra $1M/annually come in after investing $50K in a new website or team members having an extra 3 hours a week from implementing a better project management system?
6. Risk Assessment: Even for projects that have a clear value proposition and significant benefits, there is always some level of risk. Whether it's a small or inexperienced project team, a short window to launch a new product or service, or unclear whether the project will truly solve a business problem, it is important to perform a thorough risk assessment. The results of your assessment should be shared in the business case. You can also include ways you might mitigate any identified risk to increase the chance of both initial buy-in and project success.
7. Implementation Timeline: While there won’t be a project plan or full implementation plan just yet, you will need to include an implementation timeline. How long will your solution take to implement? Are there key milestone dates that must be considered? We recommend using our guide to setting realistic deadlines. It’s okay to caveat that the real timeline will be provided when the project has started, but this timeline will give stakeholders an idea of what to expect. For example, will your new website take six months or closer to two years to get launched?
8. Metrics for Success / Evaluation Plan: You’ve already explained what approach you think is best, but now you need to lay out the key elements that will demonstrate success. Think about metrics like increased revenue, increased traffic, more time for the team to work on other projects, business goals achieved, cost savings realized, etc. In addition to showing what metrics you will use to measure success, think about how you will track and evaluate. You want to beware of vanity metrics that don’t actually impact your business or team (no matter how impressive they sound).
9. Stakeholder Considerations / Impact: The last section you will want to include outlines any stakeholder considerations or impact your project or initiative will have. Does undertaking this particular project mean the marketing VP may have to postpone other work? Will it take most of the team for a significant period? Be sure to include the ways all of the major stakeholders will be impacted by the project, both positively and negatively.
Example Business Case: A New Website
Since I have alluded to it a few times in the section above, let’s stay with our new website as an example and look at how we would pitch this to our fictional company.
Problem Statement:
Our current website is outdated in both design and functionality. Over the past two years, we've seen a steady decline in both site traffic and the number of quality leads generated. Analytics show reduced engagement and high bounce rates, indicating that the current experience no longer meets the expectations of our target audience. This trend poses a risk to our growth goals and weakens the effectiveness of our broader marketing efforts.
Options Considered:
- Light Overhaul of the Existing Website: This would involve updating select pages, refreshing visual design elements, and making minor SEO adjustments. While this could provide a short-term lift, it may not address underlying structural issues or deliver the long-term gains we need in terms of performance, UX, and lead generation.
- Invest in Other Channels (e.g., Paid Search, Social Media): Allocating more budget to paid channels could drive more traffic temporarily, but without an optimized and conversion-friendly website, we risk wasting spend by sending users to an underperforming platform. The return on investment would likely be limited.
- Do Nothing: This passive approach relies on hope rather than strategy. Without intervention, we expect further declines in traffic and leads, continuing the negative trend and potentially impacting revenue.
- Build a New Website (Recommended): A full redesign and rebuild of the website would allow us to improve the user experience, improve mobile responsiveness, enhance SEO, and create a stronger lead capture and nurturing system. A new website would also provide a more effective landing environment for advertising campaigns, content marketing efforts, and other lead-generation initiatives.
Recommendation:
We recommend moving forward with the development of a new website. This investment will serve as a central hub for all digital marketing activity, positioning us for improved traffic, better lead quality, and increased conversion rates. A new site will not only address current performance issues but also provide a scalable platform to support future growth and evolving customer needs.
Expected Benefits:
- Increased qualified traffic through better SEO and user experience
- Improved lead generation and conversion rates
- Stronger alignment with brand identity and messaging
- Enhanced support for paid campaigns and marketing initiatives
- Long-term cost efficiency compared to piecemeal fixes
Conclusion:
A new website is a strategic investment in the health and growth of the business. By addressing current performance gaps and enabling more effective marketing, this initiative will deliver measurable ROI and ensure we stay competitive in the digital landscape.
As this example shows, you might not need every possible section or all of the key components listed above to create a clear and compelling business case for a new website. Are you convinced that we need one, or would you want to read more? What do you feel is missing?
Need another example? Check out this example of a business case for DAM software.
Who’s Involved? Key Stakeholders to Remember When Creating a Business Case
When you write your business case, there are a number of people to keep in mind. And while your business case can’t be everything to everyone, keeping these folks in mind will certainly help you address as many key points as possible for the majority.
- Project Sponsor – Project Sponsors serve as the champions who support the project and often sign off on the business case.
- Project Manager – The person responsible for drafting the business case and leading the project if approved.
- Finance Team – Assists in validating cost estimates, ROI projections, and budget impact.
- Department Heads or Functional Leads – They provide input on resource availability, impact, and feasibility. They may also be helpful with highlighting areas of risk or concern proactively.
- End Users or Customers – Their needs and pain points help justify the project’s value.
- IT/Operations Teams – Important for assessing technical viability and process changes.
- Decision-Makers and Approvers – Executives or committees who evaluate and greenlight the proposal.
- Subject Matter Experts - These people may provide some domain expertise to inform the business case. They may be able to speak to business objectives, methodologies for completing the work, or share other domain expertise to help inform the final recommendations.
Tips to Make Your Business Case More Persuasive
Writing a business case is a persuasive writing exercise, so here are a few tips to help you convince your audience.
- Align with strategic goals - When writing your business case, keep in mind the strategic goals your organization is trying to achieve. These could be either long-term or short-term goals. But the more you can tie your proposed outcomes to business goals, the higher the likelihood of your project or initiative being greenlit.
- Anticipate objections - Consider why someone might say no, and try to work in reasons for them to say yes proactively.
- Keep it concise and executive-friendly - As with any other piece of writing, it is important to remember your audience and only provide as much detail as you think they need. Add too much information, and you run the risk of being tuned out or ignored in favor of a better-written and more compelling case.
- Use data, but tell a story - People don’t usually remember statistics, but they do remember stories. So use your data as part of your storytelling efforts. Don’t be afraid to add a personal story or a case study from a similar project.
Mistakes to Avoid When Creating a Business Case
As writing business cases becomes part of your overall business strategy, it is important to work to avoid some of these common mistakes that new authors often make:
- Mistake #1: Writing the executive summary first: If you write the executive summary first, you risk pigeonholing yourself into a specific solution or not including the best, most salient points. Wait until the full business case is complete before writing your executive summary.
- Mistake #2: Focusing only on the solution, not the problem: By laser-focusing on the preferred or recommended project or solution and not clearly outlining the problem, you are doing your audience a disservice. You aren’t allowing them to consider their options as completely or objectively. By clearly outlining the problem or pain point, you are giving your readers the opportunity to consider alternative solutions.
- Mistake #3: Overloading it with jargon or filler: While you do want to appear credible, using too much jargon or filler can do the opposite. Your readers will be playing buzzword bingo instead of focusing on the business needs you are trying to highlight. Make your business case clear, compelling, and easy to understand.
- Mistake #4: Ignoring risk and alternative options: Risks rarely ever just go away if you ignore them, so keeping them out of your business case is almost never a smart solution. Doing your due diligence on potential risks and alternative options upfront can help ensure project success, as it will help you pick the right option, not just the one that is most obvious, easiest, or comes with the lowest project costs.
Tools for Creating a Business Case
There are many tools you can use to create your business case or the corresponding business plan. These include:
- Business case templates can provide a standardized format and structure for your business case, helping ensure clarity and completeness. They can also provide a guide to ensure you address all of the required components, ensure consistency so that evaluation is fair and balanced, and save the author time compared to starting from scratch.
- A cost-benefit analysis weighs the financial and non-financial costs of an initiative against its expected benefits. It can help quantify the value of the proposed investment or provide justification for a recommended solution, as well as help shape a comparison of multiple alternatives.
- SWOT analysis is another strategic planning tool that helps assess both internal and external factors related to the project. SWOT is an acronym that stands for strengths, weaknesses, opportunities, and threats. This kind of analysis can show how the project aligns with organizational strengths or addresses any weaknesses. It can also be used to highlight opportunities or threats that could derail the project.
- The risk assessment matrix is a risk management tool that can be used to help identify potential risks, evaluate their likelihood and impact, and suggest mitigation strategies. It can be used to document all the ways that you and your team have thought through what could go wrong, and how to manage it.
- You can use a Gantt chart or timeline view as a visual representation of the schedule of key tasks, milestones, and deliverables associated with the project. It can also help set realistic expectations for the timeline and resource needs.
- Your project stakeholder map identifies key stakeholders, their interests, and their influence over the project. It can be used in conjunction with your RACI, ORCI, or DARCI diagram to show who owns tasks or specific parts of the project scope, who is responsible, consulted, or informed over the lifecycle of the project or initiative. Learn more about stakeholder management.
- Financial forecasting tools can help show the financial benefits of a project over time. They do this by helping to illustrate projected revenue, cost savings, or returns over time, both during and after the project.
- Key performance indicators (KPIs) and a success metrics framework help to demonstrate how you’ll measure the success of the project after its completion. They can help to create accountability and clarity around project goals.
- Project management tools can track much of the above information (and many of the above templates are included in popular PM software like Notion, Clickup, or Monday.com).
Here's our list of the best project management software tools:
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