Guide to Developing the Project Business Case

This 2018 guide from the HM Treasury and Welsh Government provides best practice guidance on the development of project business cases. It offers a clear framework regarding how to develop spending proposals, generate social value for money, and implement objective and evidence-based decisions. Specifically, it puts forward a ‘five case model methodology’ for preparing effective business cases, including the following:

• The strategic case: making a case for change and demonstrating strategic fit.
• The economic case: identifying the proposal which provides the best public value to society.
• The commercial case: demonstrating how the preferred option results in a viable procurement.
• The financial case: demonstrating the affordability and funding of preferred option.
• The management case: demonstrating that robust arrangements are in place for delivering, monitoring, and evaluating the proposed scheme.

The guide covers the importance of the five case model; the business case development process; undertaking strategic assessments; scoping the proposal; preparing the Strategic Outline Case, Outline Business Case, and Full Business Case; and reviewing the business case. Used alongside other relevant resources, such as the Green Book, the guide will be useful for any place stakeholder applying for funding or preparing a business case.