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 ‘five case model methodology’ for preparing effective business cases, including: the strategic case; the economic case; the commercial case; the financial case; and the management case. It will be useful for any place stakeholder, including local authorities, applying for funding or preparing a business case.

Date added 26 October 2020
Last updated 26 October 2020

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.