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How to Write a Business Case (Template Included)

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What is a business case, how to write a business case, business case template, watch our business case training video, key elements of a business case, how projectmanager helps with your business case.

A business case is a project management document that explains how the benefits of a project overweigh its costs and why it should be executed. Business cases are prepared during the project initiation phase and their purpose is to include all the project’s objectives, costs and benefits to convince stakeholders of its value.

A business case is an important project document to prove to your client, customer or stakeholder that the project proposal you’re pitching is a sound investment. Below, we illustrate the steps to writing one that will sway them.

The need for a business case is that it collects the financial appraisal, proposal, strategy and marketing plan in one document and offers a full look at how the project will benefit the organization. Once your business case is approved by the project stakeholders, you can begin the project planning phase.

Projects fail without having a solid business case to rest on, as this project document is the base for the project charter and project plan. But if a project business case is not anchored to reality, and doesn’t address a need that aligns with the larger business objectives of the organization, then it is irrelevant.

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Use this free Business Case Template for Word to manage your projects better.

The research you’ll need to create a strong business case is the why, what, how and who of your project. This must be clearly communicated. The elements of your business case will address the why but in greater detail. Think of the business case as a document that is created during the project initiation phase but will be used as a reference throughout the project life cycle.

Whether you’re starting a new project or mid-way through one, take time to write up a business case to justify the project expenditure by identifying the business benefits your project will deliver and that your stakeholders are most interested in reaping from the work. The following four steps will show you how to write a business case.

Step 1: Identify the Business Problem

Projects aren’t created for projects’ sake. They should always be aligned with business goals . Usually, they’re initiated to solve a specific business problem or create a business opportunity.

You should “Lead with the need.” Your first job is to figure out what that problem or opportunity is, describe it, find out where it comes from and then address the time frame needed to deal with it.

This can be a simple statement but is best articulated with some research into the economic climate and the competitive landscape to justify the timing of the project.

Step 2: Identify the Alternative Solutions

How do you know whether the project you’re undertaking is the best possible solution to the problem defined above? Naturally, prioritizing projects is hard, and the path to success is not paved with unfounded assumptions.

One way to narrow down the focus to make the right solution clear is to follow these six steps (after the relevant research, of course):

• Note the alternative solutions.
• For each solution, quantify its benefits.
• Also, forecast the costs involved in each solution.
• Then figure out its feasibility .
• Discern the risks and issues associated with each solution.
• Finally, document all this in your business case.

Step 3: Recommend a Preferred Solution

You’ll next need to rank the solutions, but before doing that it’s best to set up criteria, maybe have a scoring mechanism such as a decision matrix to help you prioritize the solutions to best choose the right one.

Some methodologies you can apply include:

• Depending on the solution’s cost and benefit , give it a score of 1-10.
• Base your score on what’s important to you.
• Add more complexity to your ranking to cover all bases.

Regardless of your approach, once you’ve added up your numbers, the best solution to your problem will become evident. Again, you’ll want to have this process also documented in your business case.

Step 4: Describe the Implementation Approach

So, you’ve identified your business problem or opportunity and how to reach it, now you have to convince your stakeholders that you’re right and have the best way to implement a process to achieve your goals. That’s why documentation is so important; it offers a practical path to solve the core problem you identified.

Now, it’s not just an exercise to appease senior leadership. Who knows what you might uncover in the research you put into exploring the underlying problem and determining alternative solutions? You might save the organization millions with an alternate solution than the one initially proposed. When you put in the work on a strong business case, you’re able to get your sponsors or organizational leadership on board with you and have a clear vision as to how to ensure the delivery of the business benefits they expect.

Our business case template for Word is the perfect tool to start writing a business case. It has 9 key business case areas you can customize as needed. Download the template for free and follow the steps below to create a great business case for all your projects.

One of the key steps to starting a business case is to have a business case checklist. The following is a detailed outline to follow when developing your business case. You can choose which of these elements are the most relevant to your project stakeholders and add them to our business case template. Then once your business case is approved, start managing your projects with a robust project management software such as ProjectManager.

1. Executive Summary

The executive summary is a short version of each section of your business case. It’s used to give stakeholders a quick overview of your project.

2. Project Definition

This section is meant to provide general information about your projects, such as the business objectives that will be achieved and the project plan outline.

3. Vision, Goals and Objectives

First, you have to figure out what you’re trying to do and what is the problem you want to solve. You’ll need to define your project vision, goals and objectives. This will help you shape your project scope and identify project deliverables.

4. Project Scope

The project scope determines all the tasks and deliverables that will be executed in your project to reach your business objectives.

5. Background Information

Here you can provide a context for your project, explaining the problem that it’s meant to solve, and how it aligns with your organization’s vision and strategic plan.

6. Success Criteria and Stakeholder Requirements

Depending on what kind of project you’re working on, the quality requirements will differ, but they are critical to the project’s success. Collect all of them, figure out what determines if you’ve successfully met them and report on the results .

7. Project Plan

It’s time to create the project plan. Figure out the tasks you’ll have to take to get the project done. You can use a work breakdown structure template  to make sure you are through. Once you have all the tasks collected, estimate how long it will take to complete each one.

Project management software makes creating a project plan significantly easier. ProjectManager can upload your work breakdown structure template and all your tasks are populated in our tool. You can organize them according to your production cycle with our kanban board view, or use our Gantt chart view to create a project schedule.

8. Project Budget

Your budget is an estimate of everything in your project plan and what it will cost to complete the project over the scheduled time allotted.

9. Project Schedule

Make a timeline for the project by estimating how long it will take to get each task completed. For a more impactful project schedule , use a tool to make a Gantt chart, and print it out. This will provide that extra flourish of data visualization and skill that Excel sheets lack.

10. Project Governance

Project governance refers to all the project management rules and procedures that apply to your project. For example, it defines the roles and responsibilities of the project team members and the framework for decision-making.

11. Communication Plan

Have milestones for check-ins and status updates, as well as determine how stakeholders will stay aware of the progress over the project life cycle.

12. Progress Reports

Have a plan in place to monitor and track your progress during the project to compare planned to actual progress. There are project tracking tools that can help you monitor progress and performance.

Again, using a project management tool improves your ability to see what’s happening in your project. ProjectManager has tracking tools like dashboards and status reports that give you a high-level view and more detail, respectively. Unlike light-weight apps that make you set up a dashboard, ours is embedded in the tool. Better still, our cloud-based software gives you real-time data for more insightful decision-making. Also, get reports on more than just status updates, but timesheets, workload, portfolio status and much more, all with just one click. Then filter the reports and share them with stakeholders to keep them updated.

13. Financial Appraisal

This is a very important section of your business case because this is where you explain how the financial benefits outweigh the project costs . Compare the financial costs and benefits of your project. You can do this by doing a sensitivity analysis and a cost-benefit analysis.

14. Market Assessment

Research your market, competitors and industry, to find opportunities and threats

15. Competitor Analysis

Identify direct and indirect competitors and do an assessment of their products, strengths, competitive advantages and their business strategy.

16. SWOT Analysis

A SWOT analysis helps you identify your organization’s strengths, weaknesses, opportunities and threats. The strengths and weaknesses are internal, while the opportunities and threats are external.

17. Marketing Strategy

Describe your product, distribution channels, pricing, target customers among other aspects of your marketing plan or strategy.

18. Risk Assessment

There are many risk categories that can impact your project. The first step to mitigating them is to identify and analyze the risks associated with your project activities.

ProjectManager , an award-winning project management software, can collect and assemble all the various data you’ll be collecting, and then easily share it both with your team and project sponsors.

Once you have a spreadsheet with all your tasks listed, you can import it into our software. Then it’s instantly populated into a Gantt chart . Simply set the duration for each of the tasks, add any dependencies, and your project is now spread across a timeline. You can set milestones, but there is so much more you can do.

You have a project plan now, and from the online Gantt chart, you can assign team members to tasks. Then they can comment directly on the tasks they’re working on, adding as many documents and images as needed, fostering a collaborative environment. You can track their progress and change task durations as needed by dragging and dropping the start and end dates.

But that’s only a taste of what ProjectManager offers. We have kanban boards that visualize your workflow and a real-time dashboard that tracks six project metrics for the most accurate view of your project possible.

Try ProjectManager and see for yourself with this 30-day free trial .

If you want more business case advice, take a moment to watch Jennifer Bridges, PMP, in this short training video. She explains the steps you have to take in order to write a good business case.

Here’s a screenshot for your reference.

Transcription:

Today we’re talking about how to write a business case. Well, over the past few years, we’ve seen the market, or maybe organizations, companies or even projects, move away from doing business cases. But, these days, companies, organizations, and those same projects are scrutinizing the investments and they’re really seeking a rate of return.

So now, think of the business case as your opportunity to package your project, your idea, your opportunity, and show what it means and what the benefits are and how other people can benefit.

We want to take a look today to see what’s in the business case and how to write one. I want to be clear that when you look for information on a business case, it’s not a briefcase.

Someone called the other day and they were confused because they were looking for something, and they kept pulling up briefcases. That’s not what we’re talking about today. What we’re talking about are business cases, and they include information about your strategies, about your goals. It is your business proposal. It has your business outline, your business strategy, and even your marketing plan.

Why Do You Need a Business Case?

And so, why is that so important today? Again, companies are seeking not only their project managers but their team members to have a better understanding of business and more of an idea business acumen. So this business case provides the justification for the proposed business change or plan. It outlines the allocation of capital that you may be seeking and the resources required to implement it. Then, it can be an action plan . It may just serve as a unified vision. And then it also provides the decision-makers with different options.

So let’s look more at the steps required to put these business cases together. There are four main steps. One, you want to research your market. Really look at what’s out there, where are the needs, where are the gaps that you can serve? Look at your competition. How are they approaching this, and how can you maybe provide some other alternatives?

You want to compare and finalize different approaches that you can use to go to market. Then you compile that data and you present strategies, your goals and other options to be considered.

And then you literally document it.

So what does the document look like? Well, there are templates out there today. The components vary, but these are the common ones. And then these are what I consider essential. So there’s the executive summary. This is just a summary of your company, what your management team may look like, a summary of your product and service and your market.

The business description gives a little bit more history about your company and the mission statement and really what your company is about and how this product or service fits in.

Then, you outline the details of the product or service that you’re looking to either expand or roll out or implement. You may even include in their patents may be that you have pending or other trademarks.

Then, you want to identify and lay out your marketing strategy. Like, how are you gonna take this to your customers? Are you going to have a brick-and-mortar store? Are you gonna do this online? And, what are your plans to take it to market?

You also want to include detailed information about your competitor analysis. How are they doing things? And, how are you planning on, I guess, beating your competition?

You also want to look at and identify your SWOT. And the SWOT is your strength. What are the strengths that you have in going to market? And where are the weaknesses? Maybe some of your gaps. And further, where are your opportunities and maybe threats that you need to plan for? Then the overview of the operation includes operational information like your production, even human resources, information about the day-to-day operations of your company.

And then, your financial plan includes your profit statement, your profit and loss, any of your financials, any collateral that you may have, and any kind of investments that you may be seeking.

So these are the components of your business case. This is why it’s so important. And if you need a tool that can help you manage and track this process, then sign up for our software now at ProjectManager .

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How to Write a Business Case: Examples, Templates, and Checklists

By Joe Weller | April 24, 2019 (updated February 26, 2023)

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This article presents expert tips on how to write a business case. We also provide a checklist to prepare for, write, and present a business case, along with free, easy-to-use Word and PowerPoint business case templates.

Included on this page, you'll find details on how to write a business case , sections to include in your business case , a business case checklist , and business case presentation examples .

What Is a Business Case?

A business case is a formal, structured document; an informal, short document; or a verbal exchange that defines the benefits of an initiative or project.

In addition, a business case forecasts the costs, benefits, and risks of an initiative, so decision makers — and even the project initiators — can decide whether a project is worthwhile and why to choose one approach over similar strategies.

Jim Maholic has over 20 years of experience with IT strategy and business case development, including two stints as a CIO, two management positions with the Big Four consulting firms, and leadership positions at several technology companies.

He describes a business case in this way: “A business case is the full story that explains the ROI for a capital project. It begins with a statement of a business problem, then explores how we can solve it or what the value of solving it is. For example, ‘Our revenues aren’t rising as fast as they should,’ or ‘Inventory isn't turning over as fast as it should,’ or ‘Costs are too high.’ That's where the business case starts.

“Then, we find out how big this problem is. We talk to people in the company and find out what they think the value of solving the problem is. All this information is packaged into a story that says, ‘Here's the problem. Here's the value of solving the problem. Here's what it costs in hardware, software, or whatever. Here are the benefits. And here’s the whole story.’”

Business Cases Explain Why You Should Invest

A business case explains why stakeholders should invest in a project. The purpose of a business case contrasts with that of a project proposal , which provides a high-level outline of what you want to initiate and its benefits to the company, or that of a project plan , which explains how you execute a project. You should create your business case during the earliest stages of project planning .

A business case can also become a key document for a project manager when planning, creating milestones, and evaluating progress.

Other names and uses for business cases are financial justification, cost-benefit analysis (CBA) , total cost of ownership (TCO) analysis , and return on investment (ROI) analysis . Nonprofits and government entities sometimes refer to business cases as case statements .

What Is Business Case Analysis (BCA)?

A business case analysis (BCA) looks not only at lowest costs, but also at technical value and other nonquantitative factors in what is known as a best-value analysis . The BCA addresses the triple constraints of time, money, and scope, and it can include measures such as performance, reliability, viability, and supportability.

Although business case analysis is used interchangeably with business case , some experts consider the analysis to be part of the business case as a whole.

What Is a Business Case Used For?

A business case helps a company or an organization prepare for new ventures or changes. This document is a crucial building block of project success and underpins the foundations of  senior-level involvement and strong planning. Business cases summarize the benefits of an endeavor, clarifying a project’s business value to help stakeholders make decisions.

A good business case should focus less on the technology, domain knowledge, or specific deliverables and more on the users of a product and the goals of a project. In the same vein, a project manager should focus not only on creating output, but also on delivering value. An initiative can offer many types of value, including contributing to strategic aims, increasing efficiency, and supporting compliance. Insufficient attention to the details of a business case and the accompanying research can lead to poor project results.

Business cases usually describe these items:

• A business problem or opportunity
• Possible solutions and their benefits and disadvantages (sometimes known as disbenefits )
• Risks associated with the main solution
• Implementation timeline
• Consequences for implementing a solution and for retaining the status quo
• Resources required for the initiative or project

Advantages of a Business Case

A business case may seem like just another document destined for the shelf or the shredder, but it can offer real advantages:

• All stakeholders have similar expectations concerning the value and benefits of an initiative to an organization.
• You can convert a business case into a project plan with milestones. You increase the chances of a project’s success with planning.
• A business case becomes a gauge for determining whether an endeavor continues to offer value during execution and after a team produces a deliverable.
• Project planners can more easily establish objectives and goals.
• You can more easily discern success.
• Teams apply the right resources more efficiently.

Who Prepares a Business Case?

You might think that business cases are the purview of financial officers and accountants. In fact, people who have direct knowledge of processes and teams should be responsible for creating these documents.

Some pundits say that the individual who advocates change must enact the change, so anyone in any role could assume the responsibilities for producing a business case. This includes consultants, line managers, or IT managers. In some organizations, the project sponsor or project manager may guide the preparation of the business case and include input from relevant departments and SMEs.

When Do You Need a Business Case?

It’s no longer enough to complete a project and present a deliverable. In an economy that often seems as unstable as it was in 2008, stakeholders want to see that a deliverable creates value and benefits for an organization. This is particularly true for complex projects or those that  require justification for enlisting external resources. Public sector projects frequently need business cases.

What's in a Business Case?

A business case outlines for a decision maker the benefits and business value of a proposed initiative. The term business case frequently refers to a written document that is submitted for review or presented at a meeting, but can also apply to an informal, spoken proposal.

What Should Be in a Business Case?

A well-written business case flows logically from presenting a problem or opportunity through the advantages and disadvantages of solutions to describing the recommended solution. When you require great detail, you can chunk text into sub-sections so that the content is easier to scan, as well as faster and less overwhelming to read. Following are the common sections of a business case in sequential order:

• Executive summary
• Problem statement
• Analysis and financial details
• Recommendation

Many organizations have pre-established templates for writing business cases. If your organization doesn’t, search online for free, easy-to-use business case templates for construction business cases, one-page business cases, and more. Depending on the narrative needs of the business case, it can contain many possible sections:

• Preface: A preface may indicate the intended audience and any related documents.
• Table of Contents: If your document is delivered as a PDF file, consider hyperlinking your table of contents to the appropriate sections.
• What is the problem?
• What do you believe is the value of solving the problem?
• How much are you asking for?
• When will we start seeing benefits?

     “I’ve had some presentations that don't get beyond that first page,” Maholic muses.

• Description of the Product or Service: When proposing a new object or concept, detail what the deliverable is and how it works.
• A Problem Statement or Mission Statement: By describing the problem or the mission of the organization, you can contextualize the proposed initiative.
• Business Drivers for the Initiative: Indicate what benefits will contribute to the strategic aims of the organization.
• Finance Section: Explain how much the project will cost and whether it is affordable. Detail the cash flow. Describe the expenses to execute (or not execute) the project in a cost comparison against forecasted benefits. Conduct a sensitivity analysis , a technique for determining how the different values of an independent variable affect a dependent variable.
• Financial and nonfinancial benefits
• Quality improvements
• Cost savings through efficiencies
• Added revenue
• Competitiveness
• Improved customer services
• Options: What are the possible solutions to the problem? Usually, you narrow this list to 3 to 5 viable choices. Frequently, you include a “do nothing” option and a benchmark option. Some organizations require the do-nothing option; others require it only if the do-nothing option is a legitimate possibility. Quantify the benefits of each potential solution. Also, outline the risks, issues, and interdependencies for each solution.
• What is required?
• How is it done?
• Who does what?
• When will things happen?
• Assessments or Analysis: Your analysis should list assumptions and consider cash flow and costs. Describe the risks of the project and the plans to deal with them. Also, discuss how you will leverage opportunities. Describe the context of your undertaking using PESTLE (political, economic, sociological, technological, legal, and environmental) analysis.
• Project Approach: Detail the organization of the project, including governance and accountability, roles and responsibilities, and the schedule of progress reporting. Describe the purchasing strategy for completing the endeavor. Will you lease equipment? Rent office space? Hire contractors or employees?
• Recommendation and Next Steps: Note the recommended solution and immediate required action.
• Appendix: Add supporting documentation here, such as spreadsheets, charts, or drawings.

Considerations for Executive Presentations

The sections that comprise a business case may vary depending on your house style and the type of initiative. Jim Maholic says, “I package my business cases this way: I set up a one-hour meeting, so I have maybe 20 slides, but 10 to 15 slides are plenty. In reality, I might have 100 slides, but I add those in an appendix.” You may have credible supporting information, but you don’t want to bore your audience of decision makers by slogging through each slide.

“They might allocate an hour, but honestly, you're going to get their attention for 10 to 15 minutes, and then they'll start checking email and stuff,” Maholic adds. “You really have to be crisp in how you do this and know where you're going.

“Start with, ‘We have this problem,’ followed by, ‘Here are the people that we talked to who validated that this is a problem. They offered ideas about solving this problem, so we could see this substantial benefit,’” he notes.

“What matters in an executive meeting is that I answer the main questions: What is the problem? What is the cost of not solving it? What are the benefits of solving it? And when do we see the benefits? You may address additional questions later in the meeting or after the meeting, on an individual, offline basis,” Maholic says.

Business Case Templates

Using templates, you can more easily create business cases because you can focus on your research and fill in the blanks. The following free, downloadable templates are customizable for your organization’s needs.

Business Case Presentation Template

You can lengthen this short PowerPoint presentation template to accommodate more detail. The business case presentation template includes spaces for describing the following elements: the project name, the executive summary, the project description, the financials, the recommended solution, the assumptions and dependencies, the options, and the benefits.

‌ Download Business Case Presentation Template - PowerPoint

Simple Business Case Template

A simple business case template serves a small project or a small organization. It can cover extensive details if necessary. It includes spaces for describing the following elements of the case: the title, the executive summary, the business objective, the target users, the financials and costs, the assumptions and dependencies, the implementation strategy, the required resources, and the project governance and reporting.

Download Simple Business Case Template

Word | PDF  | Smartsheet

Healthcare Business Case Template

A healthcare business case template helps you explain the current setup and how the proposed solution can create improvements. It provides space for a one-page executive summary, context for the problem or opportunity, a description of the current situation, an explanation of the proposed changes, and details of how the changes can affect your organization and any other entities.

Download Healthcare Business Case Template

Word | Google Docs

New Product Business Case Template

A new product business case template explores the business landscape for a new product or service. In addition to the meta information, such as the title, the author, and the executive summary, the template includes space to describe the current mission statement, the proposed product or service, the marketing strategy, an analysis of competitors, SWOT analysis , an overview of the implementation plan, and financial details.

Download New Product Business Case Template

Preparing to Write the Business Case

You can expedite your business process by understanding business case structure and using a template. In addition, having the correct perspective and following best practices can contribute to your success.

Why Are You Doing the Project?

Before you start researching and writing, understand why you want to initiate a project. The goal of a project is to solve problems. What is a problem? A problem prevents your organization from achieving its full potential. To begin, determine what problem the project is trying to solve.

Projects have deliverables, whether tangible or intangible. Think of an outcome as the result created by the deliverables. Benefits represent quantifiable improvements derived from an outcome. When a customer or team member can leverage these benefits, they become advantages.

Do Your Business Case Research

To start, review the mission statement(s) for the organization or the project. Identify the sources of data for your business case. One way to encourage the acceptance of your proposal is to discuss your rough estimates of the costs and resources with a project sponsor or customer before you embark on the business case. This helps you and the sponsor understand each other’s expectations and lessens the chance of sticker shock during the executive presentation. Then interview the people who conduct the day-to-day work and get their perspective on problems and possible solutions.

Do the Business Case Math

You must consider whether the returns justify the request. “If we're asking for $3 million, we've got to show that the project benefits far exceed that amount,” asserts Maholic. “With returns of $10, $15, or $20 million, you're going to get their attention. If you say the benefits are $300 million, they're going to think you've fallen off the truck somewhere, because that's not realistic. On the other hand, if you show benefits of $3.5 million for a cost of $3 million, that's probably not going to beat the projected return of any other project that comes across their desk.”

Consider Who the Business Case Is For

Whether the business case comes in document form or as a presentation, the project sponsor and key stakeholders will study it. Consider the key audience for each section of your document and write with that audience in mind.

The most convincing arguments for projects are those that your team can initiate and wrap up within six months, as well as produce considerable quantifiable results. Especially when big money is on the table, your proposal will compete with others from different departments. “No company has all the money it wants to invest in everything — it has to prioritize. The business case helps evaluate what the return will be for each of the projects that comes across the board's desk for approval,” explains Maholic.

Furthermore, a business case presents estimates. A business case should be built on sound research, but no one has a lock on certitude. “I think first-time business case writers in particular get caught up in building some great story. But seasoned executives get requests all the time, and they're not buffaloed by clever-sounding words or fancy spreadsheets,” Maholic cautions.

“Your ideas have to be rooted in something sensible, not just, ‘I bet we can raise revenues by 15 percent,’” he explains. Grand plans may be possible, but the key, according to Maholic, is to help decision makers understand how it is possible.

How Do You Write a Business Case?

When you have the main questions in mind and a sense of the required sections and format, you can begin to write. Consider limiting the number of authors to ensure an effective writing effort that’s consistent in style and voice. Then follow these tips:

• Concisely cover the core content with enough detail, so stakeholders can make an informed decision.
• Compare options, so decision makers understand the landscape.
• Be clear, concise, and captivating.
• Avoid jargon as much as possible.
• Demonstrate the value of the project to the business by creating a credible and accurate argument.
• Clearly describe the landscape for the initiative, including its dependencies. Enumerating these dependencies is crucial because contextual changes can alter the project parameters or eliminate the need for the project altogether.
• Focus on the business and the business value rather than the knowledge domain covered by the intended project deliverable.

How Do You Know You Have Enough Detail?

You determine the length of your business cases according to the scope and complexity of your proposed endeavour. A complex project means a long business case; a small, short project means a short business case.

However, Maholic cautions against adding too much detail — conciseness can be a challenge. “You may take 4 to 6 weeks to create a business. You might talk to 50 or 100 people. There's this gnawing urge in some people to show everything they've collected in the executive presentation. Look how hard we worked. Look how smart I am . That's just awful.

“You have enough data and slides when you can answer those 4 or 5 basic questions. There may be 100 other slides, but those are supporting detail,” he says.

Common Mistakes in Writing Business Cases

You can strengthen your business case by avoiding common mistakes:

• Forget What Your White Papers Say: Maholic finds that when salespeople create cases for customers, they frequently rely on the benefits outlined in a product’s white papers. He notes, “Saying your product cuts costs by Y percent is a great place to start, but it has to be balanced by what's in front of you regarding a particular customer.” He continues, “As a salesperson, you may say that your product can increase revenue by 5 percent. That may be true for past customers, but this particular customer may have three straight years of declining revenues. It's silly to say that a product is going to both arrest a decline and bump up revenue by 5 percent. You have to think things through. That’s the analysis part. You can't just mouth off.”
• Spreadsheets Are not the Main Show: "Too often, I think, people hear business case , and they jump right to building a spreadsheet,” Maholic says. “They're eager to build the mother of all spreadsheets and show how smart they are by demonstrating the mother of all spreadsheets. While certainly spreadsheets are necessary to show the math, the spreadsheet is only a small part of the solution. Spreadsheets don't really articulate the problem or indicate who you talked to or what you analyzed to get to that solution,” he adds.
• Arguments Do not Equal More Money: Sometimes, people believe that a strong case justifies a more generous price tag. Not so, says Maholic: “As a decision maker, having a better business case doesn't mean I'm going to roll over and say, ‘Sure, you can charge me an extra million dollars.’ A good business case means the project has the value to go forward. Now, we're going to start negotiating and I'm still going to work to get the best price I can. People who've done business cases before know that. But people who are new to them don't completely understand that.”
• Remember That It’s About Value, Not About Toys: For startups, the coolness factor of the technology or product may carry some weight, but for most organizations, a business case must focus on the business value without getting lost in the domain knowledge and technical details. Maholic explains: “Nobody at the executive level cares what the throughput ratio is of this process or that stack. What they want to know is, ‘Do I get revenue more quickly? Do I cut costs more deeply? Tell me what the value of doing X is, and then you can go off and buy whatever toys you want to in order to do X.’”

Steps to Produce a Business Case

Your organization may have a tribal understanding of the best process for creating a business case. Some employees may advocate for following the Ds , which refer to the steps to produce a business case. The Ds can include as many as six steps, but generally focus on these four:

• Discover your problem or opportunity.
• Design your solutions and alternatives.
• Develop the details that describe the pros and cons of each potential solution.
• Deploy the business case.

Some advocates add the Define step to the beginning of the process and the Deliver step to the end. For best results, create your business case in the following order:

• Determine your problem or opportunity.
• Research the context for your proposal as appropriate: When developing a new product, your research may focus on the market; when acquiring new training or software, you may review current internal processes; and when making a new purchase, you may interview dozens of team members who use current tools and procedures.
• Compare alternative approaches and recommend the most appropriate strategy.
• Gather supporting data and evidence for the recommended approach.
• Write the business case.
• Write the executive summary.
• Edit your business case draft.
• Present your business case to either the final authority or the personnel who will be instrumental in implementing the case plan.

‌ Download Business Case Process Checklist  

The Business Case in Project Development

Contrary to what you might imagine, the business case can be a living document. Starting with the review process, stakeholders may reject, cancel, postpone, accept, or adjust the business case. To some extent, the business case becomes the guidebook for your initiative. Stakeholders and the project manager should refer to the business case throughout the lifecycle of the project to ensure that efforts (and intentions) remain on track.

What Are the Features of a Project Business Case?

A well-considered business case offers the following characteristics: an easy-to-understand description of the business value of the initiative and the immediate benefits of the project, including details of the positive impact on organizational strategy.

How Do You Analyze a Business Case?

In university-level business schools, business case studies (or case studies) function as teaching tools to help students use their analytic skills. Case studies describe a company and how it employs a solution. Following is the suggested approach for students analyzing a case:

• Review the case in detail. Identify the key issues.
• Determine 2 to 5 essential problems.
• Look for solutions to those problems.
• Describe your recommended solution.

What Is a Full Business Case?

A business case is a structured, detailed document that presents the justification for the commitment of financial and other resources to an endeavor. Business cases help you gain the support of management and other stakeholders, as well as approval for projects and programs.

What Is a Business Case in Project Management?

An approved business case can have a long life. Although the project sponsor ultimately owns the business case, it is the project manager who uses the business case as the guidebook for expectations and dependencies. In addition, the business case becomes an important document in an organization’s project portfolio management process. During this process, a company balances its resources with its strategic objectives to determine the livelihood of all the projects it undertakes.

History and Origins of Business Cases

The formal business case has its roots in 19th-century Europe, particularly with the work of French-Italian engineer-economist Jules Dupuit. His contribution included statistical tools to identify, measure, and value the benefits beyond merely determining the lowest bidder. Specifically, Dupuit is credited with inventing what he called the benefit-cost analysis . Today, professionals recognize the value of business cases outside of public works and government. Both nonprofit and for-profit organizations regularly use business cases.

Resources and Examples for Creating Your Business Case

If you’re new to business cases, you don’t have to start empty-handed. We offer resources to help you begin writing. Please see the following examples and templates:

• Here’s an example of a business case in a classic document format . This particular business case argues against a capital investment.
• This example presents three business cases for one higher education department . The  presentation comes in a slide format.
• In this article, Jim Maholic offers a template for creating your business case .

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Steps and theories towards more effective business case processes within existing organisations: an inter-disciplinary systematic literature review

Business Process Management Journal

ISSN : 1463-7154

Article publication date: 8 March 2023

Issue publication date: 18 December 2023

Business case (BC) analyses are performed in many different business fields, to create a report on the feasibility and competitive advantage of an intervention within an existing organisation to secure commitment from management to invest. However, most BC research papers on decisions regarding internal funding are either based on anecdotal insights, on analyses of standards from practice, or focused on very specific BC calculations for a certain project, investment or field. A clear BC process method is missing.

Design/methodology/approach

This paper aims to describe the results of a systematic literature review of 52 BC papers that report on further conceptualisation of what a BC process should behold.

Synthesis of the findings has led to a BC definition and composition of a 20 step BC process method. In addition, 29 relevant theories are identified to tackle the main challenges of BC analyses in future studies to make them more effective. This supports further theoretical development of academic BC research and provides a tool for BC processes in practice.

Originality/value

Although there is substantial scientific research on BCs, there was not much theoretical development nor a general stepwise method to perform the most optimal BC analysis.

• Business case
• Return on investment
• Intervention
• Resource allocation
• Stakeholders
• Performance

Appel-Meulenbroek, R. and Danivska, V. (2023), "Steps and theories towards more effective business case processes within existing organisations: an inter-disciplinary systematic literature review", Business Process Management Journal , Vol. 29 No. 8, pp. 75-100. https://doi.org/10.1108/BPMJ-10-2022-0532

Emerald Publishing Limited

Copyright © 2023, Rianne Appel-Meulenbroek and Vitalija Danivska

Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/legalcode

Introduction

Business cases (BCs) are commonly used as tools to evaluate an action on its fit to business goals. However, internal business decision making is becoming more and more complex, due to social and environmental considerations and interactions with increasingly more stakeholders ( Choi et al. , 2019 ). The development of a BC has therefore been said to be a key business process for project and organisational success and competitiveness ( Fortune and White, 2006 ). Nonetheless, in practice when making business decisions, a recent study showed that “spreadsheets were the second most used tool behind wall and paper.” ( Anke, 2019 , p. 4). As Anke puts forward, this is peculiar considering that spreadsheets contain various types of errors which impede their use for business decisions. A BC can also “… range from a highly comprehensive and well structured document to an informal briefing and may aim to seek funding or approval, or may seek to influence a policy making process” ( Quashie et al. , 2017 , p. 105). What is included/emphasised in a BC varies depending on the type of business and how the success of a BC (or business competitiveness) is addressed. And despite company drivers, compensation systems may not always encourage decision makers to decide for the option that creates long-term shareholder value ( Siegrist et al. , 2020 ).

The past decades, several fields have seen extensive publications on how to calculate a BC on a field-specific topic to support decision making. Although there are many such studies, there is not much scientific research into what a BC process should behold in general ( Ssegawa, 2019 ; Berghout and Tan, 2013 ). Most BC studies do not appear to be based on clear theoretical frameworks either ( Lee, 2018 ). Papers that do discuss the setup and components of a BC are either based on anecdotal insights from the author's expertise (e.g. Bishop, 2019 ; Tabbush, 2018 ), on analyses of documents or standards from practice (e.g. Ssegawa, 2019 ), or contain very specific BC calculations for a certain project or investment in a specific field (e.g. Unruh et al. , 2011 ; Casier et al. , 2008 ; Greene et al. , 2008 ). A generic overview of BC steps and insights in relevant theories for scientific advancement of BC studies appears to be missing. This prevents the fields where BCs are not yet common to embrace their use, or they might try to reinvent the wheel. The specific BC processes that are seen in some fields now, are not easily transferred to another field and make BCs less credible or comparable. Therefore, the inter-disciplinary approach of this paper aimed to synthesise distinct BC research traditions into one overview, to support business management in tackling current challenges of effective decision making.

The “ … key for developing a strong business case is a fundamental understanding of how each of its elements, models and concepts fit together” ( Quashie et al. , 2017 ). As far as the authors know, there is no generic inter-disciplinary review paper on what a BC process should behold, which steps to consider, and which theories are relevant for further theoretical development of BC analysis in general. Therefore, this paper discusses the findings of a systematic literature review of BC papers that either provided a (non-specific) framework/model with process steps/elements or discussed relevant theories for BC analysis. Very specific, detailed BCs with a strong mono-disciplinary focus were not included. From the review, a BC process method with essential steps and a list of relevant theories for further theoretical development were deducted.

The study followed the guidelines of a PRISMA structured literature review ( Page et al. , 2021 ; see Figure 1 ). The search was performed in Scopus and Web of Science databases by using the keyword “business case” in combination with “create”, “framework”, “model”, “component”, “approach”, “concept”, “tool”, or “assessment”. These keywords were chosen due to the focus of this research – a theoretical underpinning of a generic BC. It did not include “investment case”, “ROI case”, “investment paper” or “business plan” because those keywords yield either too narrow financial views on specific cases, focused on financial calculations or too wide views on business development, thus directing away from the theoretical development and understanding of a BC process as a concept. In both databases, keywords were searched in the title, abstract or keywords. The documents needed to be written in English and classified as either an article or a review. The search included articles published from 1945 to 2021 (last search update date was March 20, 2022).

Scopus yielded 2,202 publications and Web of Science 866. Removing duplicates provided 2,336 papers for initial screening. As common in the PRISMA method, during the first screening step only the titles of the publications were reviewed. Publications were removed if the titles clearly stated that the publication included a “case study” rather than a “business case”, or when they otherwise could be indicated as an irrelevant publication for the aim of this study (= minus 1,314 records). In the second screening step, abstracts were read and inclusion was based on the following criteria: either a BC composition is presented, theoretical BC process development is discussed, or BC elements are identified. Abstracts were thus excluded if the paper only discussed BCs as a case study teaching tool for students or as a specific case study calculation for a specific business/industry problem (= minus 628 records). The remaining 294 articles were read in full, which were published between 1992 and 2021 and in 236 different journals (particularly in the Journal of Cleaner Production , 12 articles; Applied Energy , 7 articles; Sustainability and Journal of Business Ethics , both 4 articles; and Journal of Nursing Administration , 3 articles).

In the last step, the full text articles were evaluated. Another 15 publications were excluded due to not being available full-text, and 3 were not published in a scientific journal. Also, 53 publications were removed because they did not discuss the BC but rather business models, different types of business analyses or effects of a BC on something else. In addition, 171 publications were excluded because they discussed a very specific BC without referring to the previous literature, providing theories or theoretical models/frameworks or identifying elements or steps to be included in a BC. Ultimately, 52 publications remained for the systematic review.

Systematic review of these 52 papers focused on the following aspects: BC definitions, steps/components of the BC, and underlying theories that help explain BC processes. The definitions that were provided were analysed on their main terms and include in an overall best definition. The labels of the steps/components that papers put forward were analysed to identify overlap and the most common sequence from start to end. Under the assumption that those papers with more steps are likely to report more detailed steps, this comparison started from those models/frameworks with the least steps and then fitted the more extensive step/element lists within those. Last, all theories that were mentioned in the papers were assigned to the different process steps where they can help BC research become more rigorous.

Descriptives

The 52 selected papers were published in 2003 or later with the exception of one from 1995 (see Figure 2 ). Most of the selected papers (36 out of 52) stem from 2013 or later years, with a clear emphasis on the last few years, particularly 2018–2020. Surprisingly, only one paper from 2021 was added to the final selection, although in total 18 papers were included in the long list.

As mentioned earlier, there is no specific journal focused on BC process studies. The selected papers were published in 41 different journals, with 1 journal publishing 3 papers ( International Journal of Project Management ) and 5 journals with 2 papers ( Applied Energy, IEEE Engineering Management Review, Construction Management and Economics, Sustainability Switzerland, and Journal of Business Ethics ). So, the topic of BCs is widespread amongst several fields. Regarding the topic/field of the selected papers, only 3 focused on BCs in general ( Bishop, 2019 ; Ssegawa, 2019 ; Eckartz et al. , 2012 ). Two topics/fields were recurring most (see Table 1 ), namely the sustainability field, with sub-topics like corporate sustainability (9 papers), corporate social responsibility (4 papers), renewable energies (2 papers) and sustainable business (2 papers), and health related research, with sub-topics like healthcare (13 papers) and occupational health (3 papers). A third field regarded technologies, such as information technology (IT) projects (5 papers) and new technologies (3 papers). Less common fields were public projects (4 papers), infrastructure (2 papers), knowledge management (1 paper) and government policy (1 paper).

The IT field appeared to be the furthest along in developing a BC process. For example, Berghout and Tan (2013) extracted 9 elements for a BC from a systematic literature review of papers on IT projects (which identified only 8 previous studies on BC elements). Later, Einhorn and colleagues published a set of papers ( Einhorn et al ., 2019 , 2020 ; Marnewick and Einhorn, 2019 ) about their suggestion for 37 process steps of an IT focused BC of 8 elements. Outside the IT field, Lee (2018) performed a systematic review of BC studies in the field of occupational health and safety (which identified only 12 previous studies). The biggest systematic selection of previous research has been done by Rodrigues et al. (2018) , identifying 87 previous studies, but their keywords focused on logic models and not specifically on BCs.

The research methods that are used in the selected articles differ a lot. Some were written in a narrative way based on experience and the opinion of the (mostly single) author (e.g. Bishop, 2019 ; Tabbush, 2018 ; Shirey, 2011 ; Cervone, 2008 ). Others had a narrative (e.g. Sasse-Werhahn et al. , 2020 ; Siegrist et al. , 2020 ) or systematic literature review approach (e.g.  Rodrigues et al. , 2018 ; Lee, 2018 ; Zadeh et al. , 2015 ; Schmidek and Weeks, 2005 ), did a content analysis of BC documents in practice (e.g. Linton et al. , 2019 ; Pronk et al. , 2015 ), held interviews (e.g. Riley et al. , 2020 ), set up surveys (e.g. Zaitsev and Dror, 2020 ) or combined different methods (e.g. Eisman et al. , 2020 ; Gannon and Smith, 2011 ). A couple of papers (e.g.  Nielsen and Persson, 2017 ; Sarkis and Liles, 1995 ) were based on design/action research where frameworks were developed together with practitioners. Also, specific calculations were made for real cases (e.g. Quashie et al. , 2017 ) or fictive ones (e.g. Jonker et al. , 2017 ) after generic frameworks were created first.

BC definitions

While most papers did not provide an explicit definition of a BC, 28 of the 52 selected papers did describe it in one or two sentences. Berghout and Tan (2013) even compared definitions in their systematic literature review on BC's for municipal IT projects, but unfortunately did not decide on a preference for one and also did not self-compose the “ultimate” definition. From those definitions, terms that were counted more than once (or synonyms) were listed in Appendix 2 and collated into a complete definition. From these 28 papers, 20 mentioned that a BC provides some kind of justification (with many synonyms). The BC definitions were mostly focused on a document (n = 6) within an organisation (n = 7) about a project (n = 13) or more generally an intervention/change/cause (n = 9), for which they want to secure commitment/approval/support from management (n = 8) for an investment (n = 14) decision (n = 3) on resource allocation (n = 4). Besides management, other stakeholder (n = 2) roles and needs (n = 2) were identified for a broader view on the context. According to the definitions, a BC tries to seek commitment by understanding (n = 3) different aspects such as costs (n = 8), benefits/results/outcomes (n = 9) and risks (n = 6) of possible solutions (n = 6) and their financial/economic or other return on investment (ROI) (n = 8) to come to a recommendation (n = 2). Last, some of the definitions seemed to search for SMART objectives, including this acronym's terms such as specific (n = 2), measurable/quantifiable (n = 3), reasonable to attain (n = 3) and time frame (n = 5). Three very long definitions were proposed by Einhorn et al. (2019) , Marnewick and Einhorn (2019) , and Shirey (2011) . Their definitions mentioned a lot of the aspects identified above (but not all), plus all added a “later-stage” purpose of a BC after the intervention. These longer definitions noted that a BC should be reviewed (n = 2) after the implementation (n = 3).

A BC documents costs, benefits, risks, and return on investment of (a) feasible alternative intervention(s) regarding an object, activity or otherwise within an organisation’s scope, to come to an understanding and recommendation that helps to justify and secure commitment from management for an investment or other resource allocation in order to start a change process. It regards all stakeholder roles and needs and defines objectives in a SMART (specific, measurable, attainable, relevant and time-based) way, and is used to review performance on expected outcomes throughout the project’s life cycle.

BC framework/model elements

Of the 52 selected papers, only 37 suggested steps or elements of a BC. Of these 37 papers, 25 referred to an existing framework/model to set up their BC (see Table 2 ). The rest described steps and/or elements for their BC analyses, without insight how these were determined. Some of the frameworks/models that were used were more generic, such as systems thinking ( Jonker et al. , 2017 ), real options analysis ( Tahon et al. , 2013 ) and multi-criteria decision making ( Riley et al. , 2020 ), while others stemmed from a specific disciplinary field such as the BC process groups from the IT project field ( Einhorn et al. , 2019 , 2020 ), EcoM2 from the sustainability field ( Rodrigues et al. , 2018 ) or the value based care model from healthcare ( Bartlett-Ellis et al. , 2015 ). Some papers referred to other developed frameworks specifically for the BC purpose in their fields, for example, a BC for ergonomic interventions ( Seeley and Marklin, 2003 ), or for information systems ( Nielsen and Persson, 2017 ; Ward et al. , 2007 ).

On average, the 37 papers that suggested steps/elements identified 6.8 different steps, with a maximum of nineteen ( Ssegawa, 2019 ) and a minimum of three steps to start from (e.g. Probert et al. , 2013 ; see Figure 3 ). The studies from Einhorn et al. (2019 , 2020) identified 37 sub-steps of the eight main steps that they proposed, so this could have potentially been seen as an even longer list. However, these sub-steps were not elaborated on in much detail in their papers and therefore only the eight main steps were used in this review.

When all the lists of steps were laid on top of each other, 3 main phases with a flow through 20 sub-steps came forward (see Figure 4 and Appendix 3 for the underlying tables in a detailed analysis of steps per publication). The simplest BC setup was from Williams et al. (2020) , dividing a BC in 3 phases: identify, execute and sustain, which was chosen as the basic setup of the BC process. The “heart” of the BC analyses – Execute – was present in all 37 papers that identified steps/elements. But while the preparatory work – Identify – also had items in 34 of the papers, the afterwork – Sustain – could only be identified from steps/components in 13 papers. This confirmed Einhorn et al. (2019) who also mentioned that most organisations do not check the BC after the decision to start had been made. The lack of afterwork was also visible during the analysis of BC definitions that is discussed in the previous section. Below the ultimate 20 sub-process steps are explained per phase.

Phase 1: identify information and stakeholders

Prepare to start: choose a problem to analyse ( Robinson et al. , 2004 ) and determine conditions for starting a BC study ( Bailit and Dyer, 2004 ).

Conduct a needs assessment: identify drivers, needs ( Quashie et al. , 2017 ) and motivations ( Nielsen and Persson, 2017 ) for what outcomes are desired ( Zaitsev and Dror, 2020 ).

Determine strategic fit: determine whether the problem is a strategic priority ( Linton et al. , 2019 ) and fits with the mission, vision and strategic context ( Bartlett-Ellis et al. , 2015 ).

Structure the problem: define the problem in more detail, by doing a situation analysis ( Ssegawa, 2019 ), identifying capability gaps ( Zaitsev and Dror, 2020 ) and/or preliminary analyses.

Identify alternative options: identify alternatives/solutions ( Ssegawa, 2019 ) and constrain them ( Riley et al. , 2020 ) by studying them.

Select measures: select indicators ( Zaitsev and Dror, 2020 ) how to measure progress towards objectives and key benefits ( Kos et al. , 2008 ).

Identify stakeholders: identify key stakeholders ( Seeley and Marklin, 2003 ) and understand where you share values and vision ( Pronk et al. , 2015 ).

Explore interrelations: identify cause and effect relations ( Robinson et al. , 2004 ) that the solution(s) could deliver ( Ssegawa, 2019 ).

Consider internal resources: consider constraints in building a team ( Bartlett-Ellis et al. , 2015 ) and tools for implementation ( Robinson et al. , 2004 ).

Determine the timeline: determine the time horizon ( Reiter et al. , 2007 ) for an intervention plan ( Bartlett-Ellis et al. , 2015 ).

Phase 2: execute BC calculations and make decision

Appraise relevant costs: identify and appraise relevant costs of the intervention.

Appraise relevant benefits: identify and appraise relevant benefits/outcomes, including reduced expenditures ( Bailit and Dyer, 2004 ).

Provide financial calculations: calculate economic measures such as cost-benefit analysis (CBA) or ROI, and compare to a hurdle rate ( Tabbush, 2018 ).

Perform risk/sensitivity analyses: perform sensitivity analyses to rank alternatives ( Riley et al. , 2020 ) and study potential risks and contingency plans ( Kos et al. , 2008 ) to address the probability of success ( Robinson et al. , 2004 ).

Build a report: communicate the BC results ( Pronk et al. , 2015 ) to make your case ( Perencevich et al. , 2007 ) and embed it ( Watson, 2018 ).

Prioritise and decide: prioritise against other projects ( Einhorn et al. , 2020 ) and make a decision ( Bishop, 2019 )

Phase 3: implement and sustain

Communicate implementation: implement the intended intervention and communicate to all stakeholders during this process ( Zadeh et al. , 2015 ).

Monitor the project: monitor the project and document it ( Einhorn et al. , 2020 ).

Evaluate the realisation: evaluate realisation of benefits ( Einhorn et al. , 2019 ) with the identified quality metrics ( Zadeh et al. , 2015 ).

Re-evaluate potential changes: re-evaluate potential changes to original plan ( Sasse-Werhahn et al. , 2020 ) and communicate BC review back for future learning purposes ( Zadeh et al. , 2015 ).

Theoretical development

Only 27 of the 52 papers mentioned a theory (or several) that was relevant for BC processes. Many of these papers were from the sustainability field, which suggests that this field might be most advanced in trying to build theoretical “rigour” into BC studies. Additionally, some theories were identified in papers from the IT field. No convergence into a specific overall theory was found in any of the papers, nor an identification of the most relevant theories across fields. Therefore, all theories in the selected papers are discussed here in light of the 20 identified steps for the BC process that they could be relevant for ( Table 3 ). In future studies, these theories could be used to enrich these steps and perhaps to develop a meta-theory for BC processes in business decision-making.

Phase 1 was the most extensive phase in terms of both the number of steps and proposed theories. Several theories can be used for step 2 (conduct needs assessment), where those involved in the BC process need to think about which goals/benefits to aim for by addressing a certain problem. Perhaps the most well-known theory in terms of gaining a competitive advantage with the available internal resources is the resource-based view theory (also known as the resource-advantage theory) ( Siegrist et al. , 2020 ). It suggests that organisations must focus on developing unique, firm-specific core competencies that will allow them to outperform competitors by doing things differently ( Prahalad and Hamel, 1990 ). On the other hand, Nielsen and Persson (2017) discussed the value/benefit management approach that focuses on benefits that can be achieved with a certain project (and selecting the best ways to measure them). It aims to improve and sustain a balance between the needs and wants of stakeholders and also relates to the resources needed to satisfy them ( IVM, 2022 ). Carroll and Shabana (2010) named two views to BC values; economic or management. They wrote that the economic view concentrates on the financial performance, while the management view looks broader, studying direct and indirect relationships between the financial performance and different initiatives. Another one focused on benefits is paradox theory, discussed in three of the papers. Desired benefits might appear contradictory to each other and this theory states that such tensions “ might be better addressed as a dynamic equilibrium than through alignment or prioritization ” ( Sasse-Werhahn et al. , 2020 ). Walker et al. (2020) added that managers that accept tensions between aims can transcend them. They claimed that one cannot exist without the other anyway, because of the dynamic relationship between them, and add that focussing on one dimension only will exacerbate the other. Paradox theory provides several approaches for managing tensions between certain elements of the BC, related to time, organisational barriers and lack of control over the process ( Sabini and Alderman, 2021 ). Another theory to overcome such tensions is practical wisdom theory et al. As Sasse-Werhahn et al. (2020) stated, “ wisdom accepts the complex, cuts through ambiguity, and derives its energy from the tensions and uncertainties of a complex world. ” They also pointed out that this dates back to Aristotle and the term phronesis: “ a true and reasoned state of capacity to act with regard to the things that are good or bad for man ”.

Next, a substantial set of theories could improve steps 6–8. Although decision makers sometimes have a narrow financial perspective, increasingly a broader view is preferred, especially in the sustainability field. Five papers from this field with diverse stakeholders have suggested many theories that can help identify metrics, stakeholders and interrelationships. Regarding step 6 (select measures), Schaltegger et al. (2019) suggested that utility theory could provide important insights on value creation with a proper BC process. They stated that “ Another way to overcome the very narrow, monetary perspective on economics and business is to not use financial and monetary indicators as proxies for utility, but instead to directly analyse how a business activity creates utility for its stakeholders and fosters sustainable development .” They also claimed that such a focus could allow companies to better deal with unexpected changes and to increase their innovativeness.

For step 7 (identify stakeholders), Schaltegger et al. (2019) also introduced a theory, namely stakeholder theory, which puts forward that the key objective of a business or project is to create value for all stakeholders involved (this theory was also mentioned by Carroll and Shabana (2010) , and Salzman et al. (2005) ). Related to this, Bartlett-Ellis et al. (2015) based their BC model partly on the theory of corporate social responsibility, which as they said “ speaks to organizations ' legal and moral obligations. The legal obligation is to be financially responsible, and the moral obligation is to interact ethically with the communities they serve. ” (p. 339). A wide range of stakeholders was identified, such as employees, customers, suppliers, governments, credit lenders and financiers.

Salzman et al. (2005) further analysed the relationship between financial, environmental and social performance and provided a list of theories that explain how those relationships are relevant for step 8 (Explore interrelationships). First of all, they mentioned supply and demand theory which puts forward that firms supply a demanded and unique level of environmental and social performance, specifically to maximise their own profits. They also mentioned the trade-off hypothesis that firms always try to pursue optimal capital and that environmental and social performance leads to lower financial performance. But they also introduced two theories that contradict this: (1) the social impact hypothesis , that meeting the needs of various non-owner stakeholders would positively impact financial performance and (2) the available funds hypothesis (also known as the slack resources theory) that higher financial performance of firms in turn allows them to allocate more resources to environmental and social performance. For this complexity of interests (and stakeholders), Eckartz et al. (2012) suggested applying co-ordination theory. It emphasises the need to understand the dependencies between different tasks and stakeholders in order to carry out a successful BC. Several papers mentioned that strategic decision-making and strategic planning requires business elements to be arranged in a way that supports the purpose of the business ( Robinson et al. , 2004 ; Hahn et al. , 2014 ). Last, according to Einhorn et al. (2020) process theories are often contrasted or supplemented with variance theories. Variance theory is focused at explaining the variance in a dependent variable based on one or more independent variables, so it seems relevant for this step too. While process theories help clarify how something happens, variance theories clarify why something happens.

The approach to BC calculations and decision-making varied slightly throughout the papers. For the first two steps of this phase (11. Appraise relevant costs, 12. Appraise relevant benefits) no theories have been mentioned, which might not be necessary as they are rather practical steps oriented at calculations. However, Schmidek and Weeks (2005) did mention the activity management approach for understanding costs and their consequences. It focuses on understanding activities and the costs that are associated with them to improve value for customers and own profits ( Turney, 1992 ). Also, several papers pointed out difficulties with determining the costs and quantifying the benefits (e.g. Perencevich et al. , 2007 ; Schmidek and Weeks, 2005 ). Regarding costs, generally a distinction was made between fixed, variable, direct and indirect costs ( Fischer and Duncan, 2020 ). Bailit and Dyer (2004) also discussed cost avoidance or costs of doing nothing. Regarding benefits, Williams et al. (2020) found that there was not really a standardised system yet for their classification. They showed examples of BCs distinguishing between financial and non-financial benefits, direct and indirect, external and internal, recurring and non-recurring, primary and secondary benefits, and several others. Robinson et al. (2004) added a further potential distinction between operational and strategic benefits.

A manipulation of the ROI is the net benefits analysis, expressed as the value of all benefits − value of all costs.

Reiter et al. (2007) described different ROI measures – net present value (NPV), rate of return (RoR) and cost-benefit ratio.

CBA: A ratio defined as the value of all benefits/value of all costs and reported as the value of benefits realised for each spent monetary unit. A variant is the balance sheet method, which lists all effects on the resources on one side of the ledger, and all the effects, positive and negative, on the consumer side.

Incremental cost-effectiveness ratios; A type of CEA used when comparing two or more interventions and defined as the difference in costs between groups divided by the difference in outcomes between groups

Cost-utility analyses; A type of CEA where the outcome is expressed in terms of a standardised outcome

Perencevish et al. (2007) also separated CBA analysis (as net financial benefit or loss) and CEA (as cost per unit). Bartlett-Ellis et al. (2015) distinguished CBA and CEA too but added cost-avoidance analysis as a third common approach (within the healthcare field). Cost-avoidance was also mentioned by Bailit and Dyer (2004) as one of the financial considerations, together with ROI and cost-of-doing-nothing. Similarly, Robinson et al. (2004) identified four techniques: CBA, CEA, cost-minimising analysis and cost-utility analysis as being used in the knowledge management field. They explained that the selection of the suitable technique depends on a number of initiatives at a time and the expression of outputs.

The normative fundament; it is focused on consumers only, not on other objectives like political goals or the welfare of future generations (as potential solution, Volden discussed multi-criteria decision making and/or presenting all costs and benefits, not just aggregated effects).

Various measurement problems; info at an early stage is based on assumptions which creates risk, normally only direct effects are included, and some impacts are hard to quantify. For the latter, Dayo-Olupona et al. (2020) suggested Fuzzy set theory to solve the vagueness of human mind, as they call it. This mathematical approach is aimed at dealing with vague and subjective judgements to quantify the difficult to quantify.

Challenges relating to appraisal optimism; own abilities and control over the situation are exaggerated (as potential solution, Volden suggested ensuring an additional outside view, ex-post evaluations to learn for the future and incentives for true speech).

Additionally, Reiter et al. (2007) pointed out that the results of financial (ROI) analyses also depend on the ability to clearly determine a time horizon, a right discount rate and risk assessment and adjust to inflation. Therefore, several papers ( Fischer and Duncan, 2020 ; Tabbush, 2018 ; Schmidek and Weeks, 2005 ) suggested performing sensitivity analyses of ROI calculations (the next step).

Tahon et al. (2013) emphasised that scenario analysis and sensitivity analysis are important extensions to financial calculations (step 14, Perform risk/sensitivity analyses). Two relevant theories for these steps that they brought forward were real options theory and game theory. The first can deal with potential future outcomes of current day investments. Real option analysis implements future flexibility benefits in NPV calculations. “ Extending the underlying business cases with the value of options would offer new insight into the dynamic interplay between options and games “ ( Tahon et al. , 2013 ). Game theory can help to analyse the impact of competition and can be used as an extension of the standard techno-economic analysis to study more realistic settings that include the impact of uncertainty. In addition, Den Dulk et al. (2010) suggested institutional theory as relevant for this step, because it “ emphasi ses the institutional pressures that influence organi s ations to respond similarly to their environments” (p. 158). They claimed that the weights that organisations assign to costs and benefits in these types of analyses depend on these pressures.

Regarding step 16 (Prioritise and decide), it was brought forward that decision making and prioritisation is done by people with diverse backgrounds and who are vulnerable to potential outside influences ( Einhorn et al. , 2020 ). In that light, Salzmann et al. (2005) mentioned the managerial opportunism hypothesis that states that decision makers might exploit opportunities in their own interest. Additionally, they suggested using the theory of cognitive framing , which indicates that people tend to make decisions based on whether options cause positive or negative associations for them. Similarly, agency theory was put forward by Siegrist et al. (2020) to show the importance of incentives and self-interest in steering the eventual decision making after the BC has been performed. “ Problems will arise when firms inadvertently create systems which incentivise managers and employees to act in ways that do not maximise shareholder value. ” ( Siegrist et al. , 2020 ). More in general, Hahn et al. (2014) introduced cognitive categorisation theory to explain how managers make sense of the main topic of the BC. In very complex situations, people's “ cognitive processing becomes schema-driven ” (p. 5). They explained that managers are unable to oversee the full strategic situation due to bounded rationality, and therefore develop subjective representations of the information inside the BC.

Two theories in one paper from the sustainability field could enrich step 17 (Communicate implementation). First signalling theory was proposed, because it focuses on communication between people ( Siegrist et al. , 2020 ). As pointed out, it could help deal with asymmetric information between a business and its wider stakeholders through proactive approaches to reduce that. In that same context, they also introduced legitimacy theory, which “ posits that corporate disclosures are made as reactions to environmental factors and in order to legitimise corporate actions .” ( Guthrie and Parker, 1989 ).

Regarding steps 18–20 on further monitoring and (re-)evaluation of the BC, no explicit theories were mentioned. However, some papers referred to different strategic approaches that shaped the way BCs were addressed in this phase. Kos et al. (2008) introduced the total quality management approach, which is coined in the idea of continuous improvements of operations and processes at all levels of an organisation to achieve long-term success and customer satisfaction. It asks for a structured process of on-going refinements in response to continuous feedback, like these final steps incorporate. Marnewick and Einhorn (2019) mentioned that review and benefit tracking “ could be used to guide the project throughout ongoing decision-making ” (p. 8).

Besides theories for the three BC phases and their specific sub-steps, a few papers suggested theories for the flow/process of going through all the steps of a BC. Those four theories are all a type of process theory. Process theory in general is a hypothesis about a causal sequence of events ( Pentland, 1999 ) that lead to certain outcomes after starting at an initial position ( Einhorn et al. , 2019 ). It is considered a system of ideas that explains how an entity changes and develops (Wikipedia). Using a process theory approach, Einhorn et al. (2019 , 2020) identified their process steps that are needed to use an IT related BC effectively. The (collection of) input(s) of each process step may be outputs of earlier processes and should lead to the execution of certain activities towards outputs and outcomes. Rodrigues et al. (2018) labelled this same approach “logic models” also known as the theory of change. The process of going through each BC step is not necessarily a straightforward line as suggested in the previous section. Therefore Jonker et al. (2017) introduced systems thinking (also called complex systems theory), as it could be used to describe the complex interactions and patterns between the different steps. Last, Rodrigues et al. (2018) also referred to system dynamics and stated that this is an application of control theory.

Discussion and implications

The variety of the topics/fields where BC analyses are applied shows the widespread need to understand the BC process better, both in theory and in practice. Although the review also identified a few main current fields that apparently have a high interest in improving organisational efficiency (IT, sustainability and health) or the need for a well-argued proof that internal spending are/can be valuable investments. Despite that their research on the setup of BC processes started in the early 90s of the twentieth century, this review has shown that it has only recently really picked up pace. The novel inter-disciplinary overview created in this paper is important for further maturation of BC process research towards supporting optimal organisational efficiency and effectiveness in decision making. Up till now, most academic BC studies started with describing which steps to take and then applying them, without basing their BC process steps on previous studies. Their processes and steps were largely based on anecdotal expertise of the authors or on standards in practice.

This systematic review extracted 20 common sub-steps and three main phases of a BC from 37 different academic studies, providing a ready BC process method to apply by everybody; both in academia and in practice. The integration of the steps for a full BC process from multiple disciplinary fields into one overall BC process method can accelerate future BC research, which can now immediately dive into more in-depth research on certain steps or apply this method in fields that are less familiar with BC analysis. For practitioners, the 20-step method provides a clear overview to set up their own BC project for specific problems. With it, they do not have to reinvent the wheel, trust commercially available tools (which might be biased), or work with published approaches from specific disciplinary fields that do not fit well in their own context. Moreover, this generic representation of phases and steps in BC process can be seen as a helpful reminder about the need for proper preparation and evaluation of the BC as well as the need to take a broader view towards the impact that a certain intervention might cause.

Besides the 20-steps method, an important novelty of this paper is the identification of 29 theories and/or management approaches that can make a BC process more effective and successful. This adds to general theory-building for further research on BC processes. A few of these theories and approaches were aimed at the overall flow of a BC process, but most were related to benefit specific steps in more detail (see Table 3 for an overview). The review showed that the following steps of the BC process might be more developed than others: step 2 (conducting needs assessment, 4 theories), step 7 (identifying stakeholders, 2 theories), step 8 (exploring interrelationships, 6 theories), step 14 (performing ris/sensitivity analysis, 3 theories), step 16 (prioritising and deciding, 4 theories), and step 17 (communicating implementation, 2 theories). These steps are all related in some way to important decisions that have to be made during the development of a BC report and the management of a proper BC process. For example, they regard the decision of what to include, who to regard as impacted by the intervention, how these components create a complex system of relationships, which then need to be prioritised and communicated in some way.

So far, it seems that particularly phase 3 of the BC process about its implementation and communication has not received much theoretical attention yet at all. Besides the mentioned signalling and legitimacy theory to help in communicating the implementation process, perhaps project management, communication and evaluation theories could be valuable to further develop this phase as well in future studies. Regarding the other two BC process phases, the reviewed papers made no suggestions for theories to enrich the steps from phase 1 on problem structuring and identifying alternatives at the beginning of this phase, nor for internal resources and timelines to finalise this phase. It would be interesting to apply existing theories on problem structuring and on project management to these steps. An important step at the beginning of phase 2, step 12 on appraisal of benefits, was also ignored from a theoretical point of view so far. While this seems the essential heart of a BC in more tacit and complex interventions in the organisation, also here further research is recommended. Last, it seems likely that additional theories on decision making can benefit BC processes further. Some other steps that lacked theoretical underpinning (1. prepare to start, 3. determine strategic fit, 15. build a report) seem a bit more case specific. So, there might not be generic theories to support them, but rather certain (project management) tools could be useful to apply in future studies and in practice.

The overview of the theories that did come forward from this review clearly shows the importance of more emphasis on the “human component” of a BC process, besides the regular calculations that a BC generally is associated with. Looking at the main assumptions of the suggested theories, this human component might determine the outcomes of such calculations for organisational effectiveness and competitiveness even more than the calculation itself. They appear to suggest that, unless managed carefully, the BC process might not lead up to more effective and efficient business processes by itself. This paper therefore provides practitioners with the valuable insight that they need to carefully manage their decision makers and their cognitive processes of dealing with the outcomes of the BC calculations (in phase 2). The right considerations and strategic thinking might bring more than direct financial returns through indirect benefits to the organisation. In addition, further application of these theories to academic BC (process) research can provide valuable insights in how to make sure that the right information is used for calculations and that they are interpreted and communicated in alignment with the organisation's strategy, mission and vision. Only then, one is really able to manage a complete and effective BC process and thus improve organisational competitiveness. So far, every theory has been applied to the BC process in only a few papers.

The identified theories are also likely to alleviate the main challenges of creating an effective BC in practice. Its assumptions can thus help practitioners improve their BC approaches. According to Björklund and Forslund (2019) , the most important challenges of making a proper BC are: the inclusion of a wide range of indicators, the ability to measure, quantify and integrate different dimensions, and to include trade-offs, influence from stakeholders, a time perspective and contextual considerations. The identified theories seem applicable to shed more light on how all of these challenges should be managed in practice. For the inclusion of indicators and the ability to measure and quantify them, the theories of steps 2, 6 and 7 appear very relevant. Integrating the many dimensions and dealing with trade-offs and stakeholders could be studied through the lenses of the theories from steps 9 and 16, while the time perspective and contextual considerations can be enriched with the theories from step 11 and 14.

Like any study, this systematic review has its limitations. A review is as good as its selection of keywords. Although the search logic was developed through multiple iterations, some synonyms of keywords might have been missed. A quite generically used term as “business case” leads to tens of thousands of publications that were not relevant for this research, and thus was not an option. Other potential limitations relate to selection bias and consistency. The initial list of publications contained over two thousand papers and was compiled by the second author, thus the selection process was spread throughout a period of time which might have affected the selection of certain publications. In the following steps, both authors performed the screening, limiting further selection bias. For consistency reasons, both authors discussed all selected and discarded papers together. Another limitation is that the review is focused on papers that applied a certain theory or made a none/less-specific model/framework of steps/components for a BC. The longlist contained many more papers that discussed a BC analysis in different steps, but they were discarded because these lists of steps were very specific for the case that was studied. Further research of these papers could validate whether the 20-step method is indeed complete and/or whether certain fields might require a specific additional step somewhere in between. In addition, a different review approach using Artificial Intelligence (AI) to analyse the big data from the longlists of more detailed and specific BCs, might provide additional novel insights.

Conclusions

This systematic review has contributed to existing literature on BC analysis by its inter-disciplinary review of how BC processes are set up in different fields and which theories have been applied to it so far. Through an overarching analysis of existing knowledge, it has provided well-supported insights in what a BC is (definition), which steps should be included to go through an effective BC process, and which theories could help strengthen the theoretical foundation of BC development. As the step-by-step method is developed from works from different fields, it should be applicable for BC research in those fields that have supplied most of the evidence for this review (e.g. on the topics of sustainability, health and IT), but most likely also in fields that have not produced (much) BC related research yet. Overall, the authors feel that this review has made a valuable contribution to academic BC research by proposing a novel BC process method and discussing the state of theoretical knowledge development on BC analysis. For practitioners, the 20-step method demonstrates a wider view to the BC and provides a clear approach to composing their BCs for any change that they might need to consider.

PRISMA Flow diagram

Frequency of the year of publication for the final list of selected articles

Distribution of steps/components of the reviewed BC models/frameworks

Identified phases and steps of a BC

Topics/fields of selected publications

Frameworks/models used in the selected papers

Theories for BC steps

Paper ID of 52 selected studies for tables in this article

Terms for definition

Phase 2: execute BC calculations

There are no competing interests to declare. This research did not receive any specific grant from funding agencies in the public, commercial or not-for-profit sectors.

Appendix 3 Tables comparing steps/components in the different papers

Table A3 Table A4 Table A5

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• Knowledge Base

Methodology

• What Is a Case Study? | Definition, Examples & Methods

What Is a Case Study? | Definition, Examples & Methods

Published on May 8, 2019 by Shona McCombes . Revised on November 20, 2023.

A case study is a detailed study of a specific subject, such as a person, group, place, event, organization, or phenomenon. Case studies are commonly used in social, educational, clinical, and business research.

A case study research design usually involves qualitative methods , but quantitative methods are sometimes also used. Case studies are good for describing , comparing, evaluating and understanding different aspects of a research problem .

Table of contents

When to do a case study, step 1: select a case, step 2: build a theoretical framework, step 3: collect your data, step 4: describe and analyze the case, other interesting articles.

A case study is an appropriate research design when you want to gain concrete, contextual, in-depth knowledge about a specific real-world subject. It allows you to explore the key characteristics, meanings, and implications of the case.

Case studies are often a good choice in a thesis or dissertation . They keep your project focused and manageable when you don’t have the time or resources to do large-scale research.

You might use just one complex case study where you explore a single subject in depth, or conduct multiple case studies to compare and illuminate different aspects of your research problem.

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Once you have developed your problem statement and research questions , you should be ready to choose the specific case that you want to focus on. A good case study should have the potential to:

• Provide new or unexpected insights into the subject
• Challenge or complicate existing assumptions and theories
• Propose practical courses of action to resolve a problem
• Open up new directions for future research

TipIf your research is more practical in nature and aims to simultaneously investigate an issue as you solve it, consider conducting action research instead.

Unlike quantitative or experimental research , a strong case study does not require a random or representative sample. In fact, case studies often deliberately focus on unusual, neglected, or outlying cases which may shed new light on the research problem.

Example of an outlying case studyIn the 1960s the town of Roseto, Pennsylvania was discovered to have extremely low rates of heart disease compared to the US average. It became an important case study for understanding previously neglected causes of heart disease.

However, you can also choose a more common or representative case to exemplify a particular category, experience or phenomenon.

Example of a representative case studyIn the 1920s, two sociologists used Muncie, Indiana as a case study of a typical American city that supposedly exemplified the changing culture of the US at the time.

While case studies focus more on concrete details than general theories, they should usually have some connection with theory in the field. This way the case study is not just an isolated description, but is integrated into existing knowledge about the topic. It might aim to:

• Exemplify a theory by showing how it explains the case under investigation
• Expand on a theory by uncovering new concepts and ideas that need to be incorporated
• Challenge a theory by exploring an outlier case that doesn’t fit with established assumptions

To ensure that your analysis of the case has a solid academic grounding, you should conduct a literature review of sources related to the topic and develop a theoretical framework . This means identifying key concepts and theories to guide your analysis and interpretation.

There are many different research methods you can use to collect data on your subject. Case studies tend to focus on qualitative data using methods such as interviews , observations , and analysis of primary and secondary sources (e.g., newspaper articles, photographs, official records). Sometimes a case study will also collect quantitative data.

Example of a mixed methods case studyFor a case study of a wind farm development in a rural area, you could collect quantitative data on employment rates and business revenue, collect qualitative data on local people’s perceptions and experiences, and analyze local and national media coverage of the development.

The aim is to gain as thorough an understanding as possible of the case and its context.

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In writing up the case study, you need to bring together all the relevant aspects to give as complete a picture as possible of the subject.

How you report your findings depends on the type of research you are doing. Some case studies are structured like a standard scientific paper or thesis , with separate sections or chapters for the methods , results and discussion .

Others are written in a more narrative style, aiming to explore the case from various angles and analyze its meanings and implications (for example, by using textual analysis or discourse analysis ).

In all cases, though, make sure to give contextual details about the case, connect it back to the literature and theory, and discuss how it fits into wider patterns or debates.

If you want to know more about statistics , methodology , or research bias , make sure to check out some of our other articles with explanations and examples.

• Normal distribution
• Degrees of freedom
• Null hypothesis
• Discourse analysis
• Control groups
• Mixed methods research
• Non-probability sampling
• Quantitative research
• Ecological validity

Research bias

• Rosenthal effect
• Implicit bias
• Cognitive bias
• Selection bias
• Negativity bias
• Status quo bias

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• Project planning |
• The beginner’s guide to writing an effe ...

The beginner’s guide to writing an effective business case

Nearly every project needs to be approved—whether that means getting the simple go-ahead from your team or gaining the support of an executive stakeholder. You may be familiar with using a project plan or project charter to propose a new initiative and get the green light for a project. But if your proposed project represents a significant business investment, you may need to build a business case.

If you’ve never written a business case, we’re here to help. With a few resources and a little planning, you can write a business case that will help you get the resources and support you need to manage a successful project.

What is a business case?

A business case is a document that explains the value or benefits your company will gain if you pursue a significant business investment or initiative. This initiative can be anything from the messaging for a new product or feature launch, a proposal to increase spend on a current initiative, or a significant investment with a new agency or contractor—to name a few. A compelling business case will outline the expected benefits of this significant investment decision. Key stakeholders will use the business case you provide to determine whether or not to move forward with an initiative.

If you’ve never created a business case, it may sound similar to other early project planning documentation. Here’s how it stacks up:

The difference between a business case and business plan

A  business case  is a proposal for a new strategy or large initiative. It should outline the business needs and benefits your company will receive from pursuing this opportunity.

A  business plan , on the other hand, is an outline for a totally new business. Typically, you’d draft a business plan to map out your business strategy, your mission and vision statements, and how you’re planning on getting there. There may be a case where you create a business plan for an already-existing business, but you’d only do so if you’re trying to take your business in a significantly new direction.

Business case vs. executive summary

Business case vs. project charter.

If you need to create an elevator pitch for your project but you don’t quite need the full business case treatment, you might need a project charter. Much like a business case, a project charter outlines key details of an initiative. Specifically, a project charter will cover three main elements of your project: project objectives, project scope, and key project stakeholders. Your management team will then use the project charter to approve further project development.

Do you need a business case?

Not every project needs a business case—or even a project charter. Plan to build a business case only for initiatives or investments that will require significant business resources. If you’re working on a smaller initiative, consider creating a project charter to pitch your project idea to relevant stakeholders.

Even if you don’t need to pitch your project to any stakeholders, you should be ready to answer basic questions about your proposed project, like:

What is this project’s purpose?

Why are we working on this project?

How does this project connect to organizational goals and objectives?

Which metrics will we use to measure the success of the project ?

Who is working on this project?

When is this project going to be completed?

5 steps for creating and pitching a business case

Your business case shouldn’t just include key facts and figures—it should also tell a story of why pursuing a particular investment or initiative is a good idea for your business. When in doubt, avoid jargon and be brief—but always focus on communicating the value of the project. If this is your first time creating a business case, don’t worry. Follow these five steps to create a solid one.

1. Gather input

You don’t have to write a business case on your own. Instead, make sure appropriate team members and stakeholders are contributing to the relevant sections. For example, the IT team should be involved in any tooling and timeline decisions, while the finance team should review any budget and risk management sections. If you’re creating a business case to propose a new initiative, product line, or customer persona, make sure you also consult subject matter experts.

2. Plan to write your business case out of order

Some of the first things that appear in your business case—like your executive summary—should actually be drafted last, when you have all of the resources and information to make an informed suggestion. Your executive summary will present all of your findings and make a recommendation for the business based on a variety of factors. By gathering all of those details first—like project purpose, financial information, and project risk—you can ensure your executive summary has all of the relevant information.

3. Build your business case incrementally

A business case describes a significant investment for your company. Similarly, simply writing a business case is a significant investment of your time. Not every initiative is right for your business—so make sure you’re checking your work with stakeholders as you go. You don’t want to sink hours and weeks into this document only for it to be rejected by executive stakeholders right off the bat.

Consider doing a “soft launch” with an outline of your business case to your project sponsor or an executive stakeholder you have a good relationship with to confirm this initiative is something you should pursue. Then, as you build the different sections of your business case, check back in with your key stakeholders to confirm there are no deal-breakers.

4. Refine the document

As you create sections of your business case, you may need to go back and refine other sections. For example, once you’ve finished doing a cost-benefit analysis with your financial team, make sure you update any budget-related project risks.

Before presenting your business case, do a final read through with key stakeholders to look for any sections that can be further refined. At this stage, you’ll also want to write the executive summary that goes at the top of the document. Depending on the length of your business case, your executive summary should be one to two pages long.

5. Present the business case

The final step is to actually present your business case. Start with a quick elevator pitch that answers the what, why, and how of your proposal. Think of this presentation as your chance to explain the current business need, how your proposal addresses the need, and what the business benefits are. Make sure to address any risks or concerns you think your audience would have.

Don’t go through your business case page by page. Instead, share the document with stakeholders before the presentation so they have a chance to read through it ahead of time. Then, after your presentation, share the document again so stakeholders can dig into details.

A business case checklist

Start with the why.

The first section of the business case is your chance to make a compelling argument about the new project. Make sure you draft an argument that appeals to your audience’s interests and needs. Despite being the first section in your business case, this should be the last section you write. In addition to including the  traditional elements of an executive summary , make sure you answer:

What business problem is your project solving?  This is your chance to explain why your project is important and why executive stakeholders should consider pursuing this opportunity.

What is your business objective ?  What happens at the end of a successful project? How will you measure success—and what does a successful project mean for your business?

How does this business case fit into your overall company business strategy plan?  Make sure your proposed business case is connected to important  company goals . The initiative proposed in your business case should move the needle towards your company's  vision statement .

Outline financials and the return on investment

At this point in your business case, you should outline the project finance fundamentals. Don’t expect to create this section on your own—you should draft this in partnership with your company’s finance team. In particular, this section should answer:

How much will this project cost?  Even if the initiative is completely new to your company, do some research to estimate the project costs.

What does each individual component of the project cost?  In addition to estimating the total overall cost, break down the different project costs. For example, you might have project costs for new tools and resources, competitive intelligence resourcing, agency costs, etc.

What is the expected return on investment (ROI)?  You’ve talked about the costs—now talk about how your company will benefit from this initiative. Make sure to explain how you calculated the ROI, too.

How will this project impact cash flow?  Cash flow is the amount of money being transferred into and out of your business. Significant investments are going to cost a lot of money, so they’ll negatively impact cash flow—but you should also expect a high ROI, which will positively impact cash flow.

What is the sensitivity analysis?  Sensitivity analysis is a summary of how uncertain your numbers are. There will be a variety of variables that impact your business case. Make sure to explain what those variables are, and how that could impact your projections.

Preview project details

Your business case is proposing a new initiative. In addition to the financial risks, take some time to preview project details. For example, your business case should include:

Your  project objectives  and  key project deliverables .  What will happen at the end of the project? What are you expecting to create or deliver once the project is over?

Your  project plan .  A project plan is a blueprint of the key elements your team needs to accomplish in order to successfully achieve your project goals.

The  project scope .  What are the boundaries of your project? What exact goals, deliverables, and deadlines will you be working towards?

A list of relevant  project stakeholders .  Who are the important project stakeholders and key decision makers for this work? This can include the members of the project team that would be working on this initiative, executive stakeholders who would sponsor the project, and any external stakeholders who might be involved.

A general  project roadmap  in a Gantt-chart like view.  At this stage in the process, you don’t need to provide a detailed project timeline, but you should outline a general sense of when each project stage will happen in relation to the others. To do this, create a project roadmap in  Gantt-chart like software . Make sure to include any important  project milestones  in your roadmap as well.

Any important project dependencies.  Is there anything that would get in the way of this project getting started? Does this work rely on any other work that’s currently in flight?

Discuss project risks

Once you’ve outlined the financial impact and important project details, make sure you include any potential project risks. If you haven’t already, create a  project risk management plan  for your business case. Project risk management isn’t the process of eliminating risk—instead, it’s about identifying, analyzing, and proactively responding to any potential project risks. Clearly defining each project risk and how that risk might impact your project can best equip you and the project team to manage and avoid those risks.

In the risk section of your business case, include:

A risk analysis of any potential project risks.  What is the risk? How likely is it to happen? What is the priority level of this risk?

What, if any, assumptions you are making.  In project risk management, assumptions are anything you think will be true about the project, without those details being guaranteed facts. Basing project decisions around an assumption can open your project up to risk. Make sure you ratify every project assumption to avoid jeopardizing project success.

Any comparable alternatives in the market.  If you’re writing a business case to pitch a new product or angle in the market, evaluate anything that already exists. Could the alternative impact your financial assessment or project success?

Develop an action plan

In the final section of your business case, outline how you will turn this business case into an actionable project. This section should answer questions like:

How will decisions be made?  Who is responsible for the project? Who is the project sponsor? If you haven’t already, consider creating a  RACI chart  to outline project responsibilities.

How will progress be measured and reported?  Not every project stakeholder needs to be notified of every project change. Outline key parts of your project communication plan , as well as how you’ll communicate  project status updates .

What is the next course of action?  If the management team ratifies this business case, what next steps will you take to put this into action?

Bring your business case to life

You’ve built a solid business case and it’s been ratified—congratulations! The next step is to bring your business case to life. It can be intimidating to  initiate large-scale change , and implementing your business case is no exception.

If you haven’t already, make sure you have a  project management tool  in place to manage and organize your new initiative. With a central source of truth to track who’s doing what by when, share status updates, and keep project stakeholders in the loop, you can turn a great business case into a successful project.

Related resources

Unmanaged business goals don’t work. Here’s what does.

How Asana uses work management to drive product development

How Asana uses work management to streamline project intake processes

How Asana uses work management for smoother creative production

Organizing Your Social Sciences Research Assignments

• Annotated Bibliography
• Analyzing a Scholarly Journal Article
• Group Presentations
• Dealing with Nervousness
• Using Visual Aids
• Grading Someone Else's Paper
• Types of Structured Group Activities
• Group Project Survival Skills
• Leading a Class Discussion
• Multiple Book Review Essay
• Reviewing Collected Works
• Writing a Case Analysis Paper
• Writing a Case Study
• About Informed Consent
• Writing Field Notes
• Writing a Policy Memo
• Writing a Reflective Paper
• Writing a Research Proposal
• Generative AI and Writing
• Acknowledgments

A case study research paper examines a person, place, event, condition, phenomenon, or other type of subject of analysis in order to extrapolate  key themes and results that help predict future trends, illuminate previously hidden issues that can be applied to practice, and/or provide a means for understanding an important research problem with greater clarity. A case study research paper usually examines a single subject of analysis, but case study papers can also be designed as a comparative investigation that shows relationships between two or more subjects. The methods used to study a case can rest within a quantitative, qualitative, or mixed-method investigative paradigm.

Case Studies. Writing@CSU. Colorado State University; Mills, Albert J. , Gabrielle Durepos, and Eiden Wiebe, editors. Encyclopedia of Case Study Research . Thousand Oaks, CA: SAGE Publications, 2010 ; “What is a Case Study?” In Swanborn, Peter G. Case Study Research: What, Why and How? London: SAGE, 2010.

How to Approach Writing a Case Study Research Paper

General information about how to choose a topic to investigate can be found under the " Choosing a Research Problem " tab in the Organizing Your Social Sciences Research Paper writing guide. Review this page because it may help you identify a subject of analysis that can be investigated using a case study design.

However, identifying a case to investigate involves more than choosing the research problem . A case study encompasses a problem contextualized around the application of in-depth analysis, interpretation, and discussion, often resulting in specific recommendations for action or for improving existing conditions. As Seawright and Gerring note, practical considerations such as time and access to information can influence case selection, but these issues should not be the sole factors used in describing the methodological justification for identifying a particular case to study. Given this, selecting a case includes considering the following:

• The case represents an unusual or atypical example of a research problem that requires more in-depth analysis? Cases often represent a topic that rests on the fringes of prior investigations because the case may provide new ways of understanding the research problem. For example, if the research problem is to identify strategies to improve policies that support girl's access to secondary education in predominantly Muslim nations, you could consider using Azerbaijan as a case study rather than selecting a more obvious nation in the Middle East. Doing so may reveal important new insights into recommending how governments in other predominantly Muslim nations can formulate policies that support improved access to education for girls.
• The case provides important insight or illuminate a previously hidden problem? In-depth analysis of a case can be based on the hypothesis that the case study will reveal trends or issues that have not been exposed in prior research or will reveal new and important implications for practice. For example, anecdotal evidence may suggest drug use among homeless veterans is related to their patterns of travel throughout the day. Assuming prior studies have not looked at individual travel choices as a way to study access to illicit drug use, a case study that observes a homeless veteran could reveal how issues of personal mobility choices facilitate regular access to illicit drugs. Note that it is important to conduct a thorough literature review to ensure that your assumption about the need to reveal new insights or previously hidden problems is valid and evidence-based.
• The case challenges and offers a counter-point to prevailing assumptions? Over time, research on any given topic can fall into a trap of developing assumptions based on outdated studies that are still applied to new or changing conditions or the idea that something should simply be accepted as "common sense," even though the issue has not been thoroughly tested in current practice. A case study analysis may offer an opportunity to gather evidence that challenges prevailing assumptions about a research problem and provide a new set of recommendations applied to practice that have not been tested previously. For example, perhaps there has been a long practice among scholars to apply a particular theory in explaining the relationship between two subjects of analysis. Your case could challenge this assumption by applying an innovative theoretical framework [perhaps borrowed from another discipline] to explore whether this approach offers new ways of understanding the research problem. Taking a contrarian stance is one of the most important ways that new knowledge and understanding develops from existing literature.
• The case provides an opportunity to pursue action leading to the resolution of a problem? Another way to think about choosing a case to study is to consider how the results from investigating a particular case may result in findings that reveal ways in which to resolve an existing or emerging problem. For example, studying the case of an unforeseen incident, such as a fatal accident at a railroad crossing, can reveal hidden issues that could be applied to preventative measures that contribute to reducing the chance of accidents in the future. In this example, a case study investigating the accident could lead to a better understanding of where to strategically locate additional signals at other railroad crossings so as to better warn drivers of an approaching train, particularly when visibility is hindered by heavy rain, fog, or at night.
• The case offers a new direction in future research? A case study can be used as a tool for an exploratory investigation that highlights the need for further research about the problem. A case can be used when there are few studies that help predict an outcome or that establish a clear understanding about how best to proceed in addressing a problem. For example, after conducting a thorough literature review [very important!], you discover that little research exists showing the ways in which women contribute to promoting water conservation in rural communities of east central Africa. A case study of how women contribute to saving water in a rural village of Uganda can lay the foundation for understanding the need for more thorough research that documents how women in their roles as cooks and family caregivers think about water as a valuable resource within their community. This example of a case study could also point to the need for scholars to build new theoretical frameworks around the topic [e.g., applying feminist theories of work and family to the issue of water conservation].

Eisenhardt, Kathleen M. “Building Theories from Case Study Research.” Academy of Management Review 14 (October 1989): 532-550; Emmel, Nick. Sampling and Choosing Cases in Qualitative Research: A Realist Approach . Thousand Oaks, CA: SAGE Publications, 2013; Gerring, John. “What Is a Case Study and What Is It Good for?” American Political Science Review 98 (May 2004): 341-354; Mills, Albert J. , Gabrielle Durepos, and Eiden Wiebe, editors. Encyclopedia of Case Study Research . Thousand Oaks, CA: SAGE Publications, 2010; Seawright, Jason and John Gerring. "Case Selection Techniques in Case Study Research." Political Research Quarterly 61 (June 2008): 294-308.

Structure and Writing Style

The purpose of a paper in the social sciences designed around a case study is to thoroughly investigate a subject of analysis in order to reveal a new understanding about the research problem and, in so doing, contributing new knowledge to what is already known from previous studies. In applied social sciences disciplines [e.g., education, social work, public administration, etc.], case studies may also be used to reveal best practices, highlight key programs, or investigate interesting aspects of professional work.

In general, the structure of a case study research paper is not all that different from a standard college-level research paper. However, there are subtle differences you should be aware of. Here are the key elements to organizing and writing a case study research paper.

I.  Introduction

As with any research paper, your introduction should serve as a roadmap for your readers to ascertain the scope and purpose of your study . The introduction to a case study research paper, however, should not only describe the research problem and its significance, but you should also succinctly describe why the case is being used and how it relates to addressing the problem. The two elements should be linked. With this in mind, a good introduction answers these four questions:

• What is being studied? Describe the research problem and describe the subject of analysis [the case] you have chosen to address the problem. Explain how they are linked and what elements of the case will help to expand knowledge and understanding about the problem.
• Why is this topic important to investigate? Describe the significance of the research problem and state why a case study design and the subject of analysis that the paper is designed around is appropriate in addressing the problem.
• What did we know about this topic before I did this study? Provide background that helps lead the reader into the more in-depth literature review to follow. If applicable, summarize prior case study research applied to the research problem and why it fails to adequately address the problem. Describe why your case will be useful. If no prior case studies have been used to address the research problem, explain why you have selected this subject of analysis.
• How will this study advance new knowledge or new ways of understanding? Explain why your case study will be suitable in helping to expand knowledge and understanding about the research problem.

Each of these questions should be addressed in no more than a few paragraphs. Exceptions to this can be when you are addressing a complex research problem or subject of analysis that requires more in-depth background information.

II.  Literature Review

The literature review for a case study research paper is generally structured the same as it is for any college-level research paper. The difference, however, is that the literature review is focused on providing background information and  enabling historical interpretation of the subject of analysis in relation to the research problem the case is intended to address . This includes synthesizing studies that help to:

• Place relevant works in the context of their contribution to understanding the case study being investigated . This would involve summarizing studies that have used a similar subject of analysis to investigate the research problem. If there is literature using the same or a very similar case to study, you need to explain why duplicating past research is important [e.g., conditions have changed; prior studies were conducted long ago, etc.].
• Describe the relationship each work has to the others under consideration that informs the reader why this case is applicable . Your literature review should include a description of any works that support using the case to investigate the research problem and the underlying research questions.
• Identify new ways to interpret prior research using the case study . If applicable, review any research that has examined the research problem using a different research design. Explain how your use of a case study design may reveal new knowledge or a new perspective or that can redirect research in an important new direction.
• Resolve conflicts amongst seemingly contradictory previous studies . This refers to synthesizing any literature that points to unresolved issues of concern about the research problem and describing how the subject of analysis that forms the case study can help resolve these existing contradictions.
• Point the way in fulfilling a need for additional research . Your review should examine any literature that lays a foundation for understanding why your case study design and the subject of analysis around which you have designed your study may reveal a new way of approaching the research problem or offer a perspective that points to the need for additional research.
• Expose any gaps that exist in the literature that the case study could help to fill . Summarize any literature that not only shows how your subject of analysis contributes to understanding the research problem, but how your case contributes to a new way of understanding the problem that prior research has failed to do.
• Locate your own research within the context of existing literature [very important!] . Collectively, your literature review should always place your case study within the larger domain of prior research about the problem. The overarching purpose of reviewing pertinent literature in a case study paper is to demonstrate that you have thoroughly identified and synthesized prior studies in relation to explaining the relevance of the case in addressing the research problem.

III.  Method

In this section, you explain why you selected a particular case [i.e., subject of analysis] and the strategy you used to identify and ultimately decide that your case was appropriate in addressing the research problem. The way you describe the methods used varies depending on the type of subject of analysis that constitutes your case study.

If your subject of analysis is an incident or event . In the social and behavioral sciences, the event or incident that represents the case to be studied is usually bounded by time and place, with a clear beginning and end and with an identifiable location or position relative to its surroundings. The subject of analysis can be a rare or critical event or it can focus on a typical or regular event. The purpose of studying a rare event is to illuminate new ways of thinking about the broader research problem or to test a hypothesis. Critical incident case studies must describe the method by which you identified the event and explain the process by which you determined the validity of this case to inform broader perspectives about the research problem or to reveal new findings. However, the event does not have to be a rare or uniquely significant to support new thinking about the research problem or to challenge an existing hypothesis. For example, Walo, Bull, and Breen conducted a case study to identify and evaluate the direct and indirect economic benefits and costs of a local sports event in the City of Lismore, New South Wales, Australia. The purpose of their study was to provide new insights from measuring the impact of a typical local sports event that prior studies could not measure well because they focused on large "mega-events." Whether the event is rare or not, the methods section should include an explanation of the following characteristics of the event: a) when did it take place; b) what were the underlying circumstances leading to the event; and, c) what were the consequences of the event in relation to the research problem.

If your subject of analysis is a person. Explain why you selected this particular individual to be studied and describe what experiences they have had that provide an opportunity to advance new understandings about the research problem. Mention any background about this person which might help the reader understand the significance of their experiences that make them worthy of study. This includes describing the relationships this person has had with other people, institutions, and/or events that support using them as the subject for a case study research paper. It is particularly important to differentiate the person as the subject of analysis from others and to succinctly explain how the person relates to examining the research problem [e.g., why is one politician in a particular local election used to show an increase in voter turnout from any other candidate running in the election]. Note that these issues apply to a specific group of people used as a case study unit of analysis [e.g., a classroom of students].

If your subject of analysis is a place. In general, a case study that investigates a place suggests a subject of analysis that is unique or special in some way and that this uniqueness can be used to build new understanding or knowledge about the research problem. A case study of a place must not only describe its various attributes relevant to the research problem [e.g., physical, social, historical, cultural, economic, political], but you must state the method by which you determined that this place will illuminate new understandings about the research problem. It is also important to articulate why a particular place as the case for study is being used if similar places also exist [i.e., if you are studying patterns of homeless encampments of veterans in open spaces, explain why you are studying Echo Park in Los Angeles rather than Griffith Park?]. If applicable, describe what type of human activity involving this place makes it a good choice to study [e.g., prior research suggests Echo Park has more homeless veterans].

If your subject of analysis is a phenomenon. A phenomenon refers to a fact, occurrence, or circumstance that can be studied or observed but with the cause or explanation to be in question. In this sense, a phenomenon that forms your subject of analysis can encompass anything that can be observed or presumed to exist but is not fully understood. In the social and behavioral sciences, the case usually focuses on human interaction within a complex physical, social, economic, cultural, or political system. For example, the phenomenon could be the observation that many vehicles used by ISIS fighters are small trucks with English language advertisements on them. The research problem could be that ISIS fighters are difficult to combat because they are highly mobile. The research questions could be how and by what means are these vehicles used by ISIS being supplied to the militants and how might supply lines to these vehicles be cut off? How might knowing the suppliers of these trucks reveal larger networks of collaborators and financial support? A case study of a phenomenon most often encompasses an in-depth analysis of a cause and effect that is grounded in an interactive relationship between people and their environment in some way.

NOTE:   The choice of the case or set of cases to study cannot appear random. Evidence that supports the method by which you identified and chose your subject of analysis should clearly support investigation of the research problem and linked to key findings from your literature review. Be sure to cite any studies that helped you determine that the case you chose was appropriate for examining the problem.

IV.  Discussion

The main elements of your discussion section are generally the same as any research paper, but centered around interpreting and drawing conclusions about the key findings from your analysis of the case study. Note that a general social sciences research paper may contain a separate section to report findings. However, in a paper designed around a case study, it is common to combine a description of the results with the discussion about their implications. The objectives of your discussion section should include the following:

Reiterate the Research Problem/State the Major Findings Briefly reiterate the research problem you are investigating and explain why the subject of analysis around which you designed the case study were used. You should then describe the findings revealed from your study of the case using direct, declarative, and succinct proclamation of the study results. Highlight any findings that were unexpected or especially profound.

Explain the Meaning of the Findings and Why They are Important Systematically explain the meaning of your case study findings and why you believe they are important. Begin this part of the section by repeating what you consider to be your most important or surprising finding first, then systematically review each finding. Be sure to thoroughly extrapolate what your analysis of the case can tell the reader about situations or conditions beyond the actual case that was studied while, at the same time, being careful not to misconstrue or conflate a finding that undermines the external validity of your conclusions.

Relate the Findings to Similar Studies No study in the social sciences is so novel or possesses such a restricted focus that it has absolutely no relation to previously published research. The discussion section should relate your case study results to those found in other studies, particularly if questions raised from prior studies served as the motivation for choosing your subject of analysis. This is important because comparing and contrasting the findings of other studies helps support the overall importance of your results and it highlights how and in what ways your case study design and the subject of analysis differs from prior research about the topic.

Consider Alternative Explanations of the Findings Remember that the purpose of social science research is to discover and not to prove. When writing the discussion section, you should carefully consider all possible explanations revealed by the case study results, rather than just those that fit your hypothesis or prior assumptions and biases. Be alert to what the in-depth analysis of the case may reveal about the research problem, including offering a contrarian perspective to what scholars have stated in prior research if that is how the findings can be interpreted from your case.

Acknowledge the Study's Limitations You can state the study's limitations in the conclusion section of your paper but describing the limitations of your subject of analysis in the discussion section provides an opportunity to identify the limitations and explain why they are not significant. This part of the discussion section should also note any unanswered questions or issues your case study could not address. More detailed information about how to document any limitations to your research can be found here .

Suggest Areas for Further Research Although your case study may offer important insights about the research problem, there are likely additional questions related to the problem that remain unanswered or findings that unexpectedly revealed themselves as a result of your in-depth analysis of the case. Be sure that the recommendations for further research are linked to the research problem and that you explain why your recommendations are valid in other contexts and based on the original assumptions of your study.

V.  Conclusion

As with any research paper, you should summarize your conclusion in clear, simple language; emphasize how the findings from your case study differs from or supports prior research and why. Do not simply reiterate the discussion section. Provide a synthesis of key findings presented in the paper to show how these converge to address the research problem. If you haven't already done so in the discussion section, be sure to document the limitations of your case study and any need for further research.

The function of your paper's conclusion is to: 1) reiterate the main argument supported by the findings from your case study; 2) state clearly the context, background, and necessity of pursuing the research problem using a case study design in relation to an issue, controversy, or a gap found from reviewing the literature; and, 3) provide a place to persuasively and succinctly restate the significance of your research problem, given that the reader has now been presented with in-depth information about the topic.

Consider the following points to help ensure your conclusion is appropriate:

• If the argument or purpose of your paper is complex, you may need to summarize these points for your reader.
• If prior to your conclusion, you have not yet explained the significance of your findings or if you are proceeding inductively, use the conclusion of your paper to describe your main points and explain their significance.
• Move from a detailed to a general level of consideration of the case study's findings that returns the topic to the context provided by the introduction or within a new context that emerges from your case study findings.

Note that, depending on the discipline you are writing in or the preferences of your professor, the concluding paragraph may contain your final reflections on the evidence presented as it applies to practice or on the essay's central research problem. However, the nature of being introspective about the subject of analysis you have investigated will depend on whether you are explicitly asked to express your observations in this way.

Problems to Avoid

Overgeneralization One of the goals of a case study is to lay a foundation for understanding broader trends and issues applied to similar circumstances. However, be careful when drawing conclusions from your case study. They must be evidence-based and grounded in the results of the study; otherwise, it is merely speculation. Looking at a prior example, it would be incorrect to state that a factor in improving girls access to education in Azerbaijan and the policy implications this may have for improving access in other Muslim nations is due to girls access to social media if there is no documentary evidence from your case study to indicate this. There may be anecdotal evidence that retention rates were better for girls who were engaged with social media, but this observation would only point to the need for further research and would not be a definitive finding if this was not a part of your original research agenda.

Failure to Document Limitations No case is going to reveal all that needs to be understood about a research problem. Therefore, just as you have to clearly state the limitations of a general research study , you must describe the specific limitations inherent in the subject of analysis. For example, the case of studying how women conceptualize the need for water conservation in a village in Uganda could have limited application in other cultural contexts or in areas where fresh water from rivers or lakes is plentiful and, therefore, conservation is understood more in terms of managing access rather than preserving access to a scarce resource.

Failure to Extrapolate All Possible Implications Just as you don't want to over-generalize from your case study findings, you also have to be thorough in the consideration of all possible outcomes or recommendations derived from your findings. If you do not, your reader may question the validity of your analysis, particularly if you failed to document an obvious outcome from your case study research. For example, in the case of studying the accident at the railroad crossing to evaluate where and what types of warning signals should be located, you failed to take into consideration speed limit signage as well as warning signals. When designing your case study, be sure you have thoroughly addressed all aspects of the problem and do not leave gaps in your analysis that leave the reader questioning the results.

Case Studies. Writing@CSU. Colorado State University; Gerring, John. Case Study Research: Principles and Practices . New York: Cambridge University Press, 2007; Merriam, Sharan B. Qualitative Research and Case Study Applications in Education . Rev. ed. San Francisco, CA: Jossey-Bass, 1998; Miller, Lisa L. “The Use of Case Studies in Law and Social Science Research.” Annual Review of Law and Social Science 14 (2018): TBD; Mills, Albert J., Gabrielle Durepos, and Eiden Wiebe, editors. Encyclopedia of Case Study Research . Thousand Oaks, CA: SAGE Publications, 2010; Putney, LeAnn Grogan. "Case Study." In Encyclopedia of Research Design , Neil J. Salkind, editor. (Thousand Oaks, CA: SAGE Publications, 2010), pp. 116-120; Simons, Helen. Case Study Research in Practice . London: SAGE Publications, 2009;  Kratochwill,  Thomas R. and Joel R. Levin, editors. Single-Case Research Design and Analysis: New Development for Psychology and Education .  Hilldsale, NJ: Lawrence Erlbaum Associates, 1992; Swanborn, Peter G. Case Study Research: What, Why and How? London : SAGE, 2010; Yin, Robert K. Case Study Research: Design and Methods . 6th edition. Los Angeles, CA, SAGE Publications, 2014; Walo, Maree, Adrian Bull, and Helen Breen. “Achieving Economic Benefits at Local Events: A Case Study of a Local Sports Event.” Festival Management and Event Tourism 4 (1996): 95-106.

Writing Tip

At Least Five Misconceptions about Case Study Research

Social science case studies are often perceived as limited in their ability to create new knowledge because they are not randomly selected and findings cannot be generalized to larger populations. Flyvbjerg examines five misunderstandings about case study research and systematically "corrects" each one. To quote, these are:

Misunderstanding 1 :  General, theoretical [context-independent] knowledge is more valuable than concrete, practical [context-dependent] knowledge. Misunderstanding 2 :  One cannot generalize on the basis of an individual case; therefore, the case study cannot contribute to scientific development. Misunderstanding 3 :  The case study is most useful for generating hypotheses; that is, in the first stage of a total research process, whereas other methods are more suitable for hypotheses testing and theory building. Misunderstanding 4 :  The case study contains a bias toward verification, that is, a tendency to confirm the researcher’s preconceived notions. Misunderstanding 5 :  It is often difficult to summarize and develop general propositions and theories on the basis of specific case studies [p. 221].

While writing your paper, think introspectively about how you addressed these misconceptions because to do so can help you strengthen the validity and reliability of your research by clarifying issues of case selection, the testing and challenging of existing assumptions, the interpretation of key findings, and the summation of case outcomes. Think of a case study research paper as a complete, in-depth narrative about the specific properties and key characteristics of your subject of analysis applied to the research problem.

Flyvbjerg, Bent. “Five Misunderstandings About Case-Study Research.” Qualitative Inquiry 12 (April 2006): 219-245.

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What Kind of Business Case Studies Are We Writing?

By: Gerry Yemen

What is the difference between a research paper and a business case study? Are all good business cases decision-focused? This note provides a brief description of field-based, research-based, and…

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• Publication Date: Apr 13, 2012
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What is the difference between a research paper and a business case study? Are all good business cases decision-focused? This note provides a brief description of field-based, research-based, and armchair cases. It also reviews the notion of a descriptive or evaluative case. Although the material was written to generate a discussion of what a business case study is for case writing workshops, it is useful for those who are new to case writing-students and faculty.

Learning Objectives

Distinguish the difference between a research paper and business case study

Apr 13, 2012

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Darden School of Business

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• 29 Feb 2024

Beyond Goals: David Beckham's Playbook for Mobilizing Star Talent

Reach soccer's pinnacle. Become a global brand. Buy a team. Sign Lionel Messi. David Beckham makes success look as easy as his epic free kicks. But leveraging world-class talent takes discipline and deft decision-making, as case studies by Anita Elberse reveal. What could other businesses learn from his ascent?

• 26 Sep 2023
• Cold Call Podcast

The PGA Tour and LIV Golf Merger: Competition vs. Cooperation

On June 9, 2022, the first LIV Golf event teed off outside of London. The new tour offered players larger prizes, more flexibility, and ambitions to attract new fans to the sport. Immediately following the official start of that tournament, the PGA Tour announced that all 17 PGA Tour players participating in the LIV Golf event were suspended and ineligible to compete in PGA Tour events. Tensions between the two golf entities continued to rise, as more players “defected” to LIV. Eventually LIV Golf filed an antitrust lawsuit accusing the PGA Tour of anticompetitive practices, and the Department of Justice launched an investigation. Then, in a dramatic turn of events, LIV Golf and the PGA Tour announced that they were merging. Harvard Business School assistant professor Alexander MacKay discusses the competitive, antitrust, and regulatory issues at stake and whether or not the PGA Tour took the right actions in response to LIV Golf’s entry in his case, “LIV Golf.”

• 22 Nov 2022
• Research & Ideas

When Agreeing to Disagree Is a Good Beginning

When conflict stems from honest and open listening, disagreement can be a good thing, say Francesca Gino and Julia Minson. But developing those skills requires patience and discipline.

• 20 Apr 2021
• Working Paper Summaries

Cognitive Biases: Mistakes or Missing Stakes?

This study of field and lab data strongly suggests that people do not necessarily make better decisions when the stakes are very high. Results highlight the potential economic consequences of cognitive biases.

• 02 Apr 2021

Salary Negotiations: A Catch-22 for Women

Too assertive or too nice? New research from Julian Zlatev probes the lose-lose dynamics that penalize women in negotiations and perpetuate gender inequity. Open for comment; 0 Comments.

• 31 Mar 2020

Controlling the Emotion of Negotiation

Leslie John discusses the importance of asking (and answering) the right questions when negotiating, particularly under emotional stress. Open for comment; 0 Comments.

• 13 May 2019

The Unexpected Way Whistleblowers Reduce Government Fraud

Even unfounded allegations by whistleblowers can force government contractors to renegotiate their terms, say Jonas Heese and Gerardo Perez Cavazos. Open for comment; 0 Comments.

• 08 Mar 2019

Seven Negotiation Lessons from Amazon's HQ Disaster in Queens

After a lengthy courting process, Amazon thought its plan for a New York HQ campus was in the bag. But the company failed a primary goal of negotiations, says James Sebenius. Open for comment; 0 Comments.

• 15 Oct 2018

Shaky Business: How Handshakes Win Negotiations

A handshake before a negotiation can have a surprisingly strong effect on the outcome, according to Michael Norton, Francesca Gino, and colleagues. Open for comment; 0 Comments.

• 30 Jul 2018

Why Ethical People Become Unethical Negotiators

You may think you are an ethical person, but self-interest can cloud your judgment when you sit down at the bargaining table, says Max Bazerman. Open for comment; 0 Comments.

• 05 Jul 2018

Henry Kissinger's Lessons for Business Negotiators

Much has been written about Henry Kissinger the diplomat and United States secretary of state, but surprisingly little about Kissinger the dealmaker. A trio of Harvard scholars remedies that with Kissinger the Negotiator: Lessons from Dealmaking at the Highest Level. Co-author James Sebenius discusses what business negotiators can learn. Open for comment; 0 Comments.

• 23 Jan 2018

Transaction Costs and the Duration of Contracts

When buyers transact with sellers, they select not only whom to transact with but also for how long. This paper develops a model of optimal contract duration arising from underlying supply costs and transaction costs. The model allows for the quantification of transaction costs, which are often unobserved, and the impact of these costs on welfare.

• 05 Apr 2017

For Women Especially, It Pays to Know What Car Repairs Should Cost

Consumers can negotiate cheaper auto repair prices by convincing service reps they know something about market rates—helping women overcome gender discrimination, according to recently published research by Ayelet Israeli and co-authors. Open for comment; 0 Comments.

• 05 Dec 2016

How The 2016 Presidential Candidates Misled Us With Truthful Statements

Paltering, a subtle form of lying where an almost true statement is used, is not unknown in the world of politics. Here are several examples. Open for comment; 0 Comments.

How To Deceive Others With Truthful Statements (It's Called 'Paltering,' And It's Risky)

Presidential candidates do it. Business leaders do it. You probably do it, too. Paltering is a gentle form of lying, but is reviled by negotiators on the receiving end. Research by Francesca Gino, Michael Norton, and colleagues. Open for comment; 0 Comments.

• 23 May 2016

A Little Understanding Motivates Copyright Abusers to Pay Up

Many Internet users don't give a second thought to copying and reusing an image. Hong Luo and Julie Holland Mortimer explain how copyright holders can gently persuade abusers to do the right thing. Open for comment; 0 Comments.

• 11 May 2016

Fix This! Why is it so Painful to Buy a New Car?

Car-buying sends shivers up the backbones of American consumers, so why hasn’t the industry stepped up to create a better experience? Leonard Schlesinger, Jill Avery, and Ryan Buell tell their own war stories and talk about how the battle might yet be won. Open for comment; 0 Comments.

• 18 Apr 2016

The Cost of Leaning In

Women who are forced to negotiate tend to fare worse than if they hadn’t negotiated at all, according to research by Christine Exley, Muriel Niederle, and Lise Vesterlund. Open for comment; 0 Comments.

• 13 Apr 2016

Knowing When to Ask: The Cost of Leaning-in

The popular push for women to “lean in” holds that women should negotiate on their own behalf to overcome the gender wage gap. This study, however, shows the importance of choice in successful negotiations. Women usually choose to enter negotiations leading to financial gains and avoid negotiations that would result in financial losses. Regardless of the reasons for avoidance, leaning-in is not automatically the best advice for women.

• 04 Apr 2016

How to Negotiate Situations That Feel Hopeless

In Negotiating the Impossible, Deepak Malhotra outlines key lessons for negotiating sticky situations, with examples that include the Cuban Missile Crisis, disputes in the National Football League and National Hockey League, and several instances of high-stakes deal-making where companies found themselves negotiating against the odds. Open for comment; 0 Comments.

• Boston University Libraries

Business Case Studies

• Citing Business Sources
• Getting Started
• Harvard Business School Cases
• Diverse Business Cases
• Databases with Cases
• Journals with Cases
• Books with Cases
• Open Access Cases
• Case Analysis
• Case Interviews
• Case Method (Teaching)
• Writing Case Studies

Citing Your Sources

Chicago style, american psychological association (apa) style manuals, modern language association (mla) style manuals, selected web guides.

Proper citation is an essential aspect of scholarship. Citing properly allows your reader or audience to locate the materials you have used. Most importantly, citations give credit to the authors of quoted or consulted information. Failure to acknowledge sources of information properly may constitute plagiarism.  For an explicit definition of plagiarism, see the  Boston University Academic Conduct Code .

For detailed instructions on how to cite within the text of your paper, please consult a style manual listed below. Please also note: some of the resources below do not cover every possibility you might encounter when trying to cite your sources. For this reason, it is suggested that you consult a style manual to create your bibliography.

• Online Resources
• Sample Citations
• Reference Books
• Chicago Manual of Style Online This link opens in a new window Note: Full text online includes 16th and 17th editions.
• Citation Quick Guide - A Chicago Style Q&A and a Tools section featuring sample forms, letters and style sheets. - Discover the difference between Notes & Bibliography style and Author/Date style.
• Citation Guide (HBS) This excellent guide in .PDF from the Harvard Business School covers citation within text as well as how to do a bibliography using Chicago style.

1. Lynda Gratton, The Key: How Corporations Succeed by Solving the World’s Toughest Problems (New York: McGraw-Hill Education, 2014),  67-71.

Shortened note:

10. Gratton, The Key , 67-71.

Bibliography entry:

Gratton, Lynda. The Key: How How Corporations Succeed by Solving the Toughest Problems . New York: McGraw-Hill Education, 2014.

     13. Peter Weill and Stephanie L. Woerner, What's Your Digital Business Model?: Six Questions to Help You Build the Next-Generation Enterprise (Harvard Business Review Press, 2018), 21-23, https://ebookcentral.proquest.com/lib/bu /detail.action?docID=5180058.

Shortened note :

15. Weill and Woerner, What's Your Digital Business? , 21-23, https://ebookcentral.proquest.com/lib/bu /detail.action?docID=5180058.

Weill, Peter and Stephanie L. Woerrner. What's Your Digital Business?: Six Questions to Help You Build the Next-Generation

       Enterprise . Harvard Business Review Press 2018. ProQuest Ebook Central ,

       https://ebookcentral.proquest.com/lib/bu /detail.action?docID=5180058.

Journal Article from a database

     19. Sam son Nambei Asoba and Nteboheng Patricia Mefi , "Functional Strategies for Small Businesses During Crisis Situations,"  Academy of Entrepreneurship Journal 27, n o. 3 (2021): 2-3. https://ezproxy.bu.edu/login?qurl=https%3A%2F%2Fwww.proquest.com%2Fscholarly-journals%2Ffunctional-strategies-small-businesses-during%2Fdocview%2F2565213471%2Fse-2%3Faccountid%3D9676.

      27. Asoba and Mefi, "Functional Stategies," Academy of Entrepreneurship Journal 27, 2-3. https://ezproxy.bu.edu/login?qurl=https%3A%2F%2Fwww.proquest.com%2Fscholarly-journals%2Ffunctional-strategies-small-businesses-during%2Fdocview%2F2565213471%2Fse-2%3Faccountid%3D9676

Asoba, Samson Nambei and Nteboheng Patricia Mefi. "Functional Strategies for Small Businesses During Crisis

       Situations." Academy of Entrepreneurship Journal 27, no. 3 (2021): 1-7. [place url here].

Electronic Databases (BU Databases)

Mergent Online (Electronic database)

      25. Thomas Key, "Comprehensive Technical and Fundamental Analysis for AAPL," Mergent Online, Stock Trader's Daily (via Investext), Sept. 15, 2021, accessed 9-17-21, [place url here].

Key, Thomas. "Comprehensive Technical and Fundamental Analysis for AAPL." Mergent Online.

      Stock Trader's Daily (via Investext). Sept. 15, 2021, accessed 9-17-21, [place url here].

MarketLine Company Profile via Business Source Complete (Electronic database)

     31 . “Company Profile: Apple Inc., “Company Profile: Apple Inc.,” MarketLine Report via Business Source Complete, accessed October 17, 2014, [place url here].

“Company Profile: Apple Inc., 19 September 2014.” MarketLine Report via Business Source Complete.

      Accessed October 17, 2014. [place url here].

• APA Style.Style and Grammar Guidelines

APA Sample Citations: Note- initially no indent and then following lines indented.

Print Source:

Book (print):.

Gratton, L. (2014).  The Key: How Corporations Succeed by Solving the World’s Toughest Problems . New York: McGraw-Hill Education .

Bloomberg (Electronic Database):

Bloomberg L.P. (2014).  Historical Price Line Chart for Apple, Inc. 11/1/03 to 11/1/04 . Retrieved October 17, 2014 from Bloomberg L.P.

MarketLine Company Profile via Business Source Complete:

MarketLine Report. (2014, September 19).  Company Profile: Apple Inc . Retrieved October 17, 2014 from Business Source Complete database.

Mergent Online (SEC/EDGAR filing in BU database):

Apple, Inc. (2013, September 28).  Form 10-K . Retrieved October 17, 2014 from Mergent Online database.

Mintel Reports (Electronic Database):

Mintel. (2014, October).  Mobile Apps – US – October 2014 . Retrieved October 17, 2014 from Mintel Reports database.

SRDS online (Electronic Database)

SRDS Media Solutions. (n.d.).  U.S. News & World Report Profile . Retrieved October 17, 2014 from SRDS Media Solutions database.

University Reporter  (Electronic Database):

University Reporter . (2014, Spring).  2014 Spring Reporter Apparel/Accessories . Retrieved February 23, 2016 from  University Reporter  database.

Articles from a BU Database:

Abi/inform global.

Overman, S. (2014). The Culture of Conscience.  Leadership Excellence ,  31 (10) , 49-51.

Online Sources:

Annual report available online:.

Apple Inc.(2013).   Apple, Inc. Form 10-K for the Fiscal Year Ended September 28, 2013 . Retrieved from http://investor.apple.com/financials.cfm.

• Ask the MLA The FAQ’s answer recurring questions about the use of this style.

MLA Sample Citations: Note- initially no indent and then following lines indented.

Gratton, Lynda.  The Key: How Corporations Succeed by Solving the World’s Toughest Problems . New York: McGraw-Hill Education, 2014. Print.

Electronic Databases (BU Databases):

Bloomberg (electronic database): bloomberg l.p..

Bloomberg L.P. “ Historical Price Line Chart for Apple, Inc. 11/1/03 to 11/1/04."   Bloomberg L.P. ,2014. Web. 17 October 2014.

MarketLine Report. “ Company Profile: Apple Inc. ”  Business Source Complete database,  19 September 2014. Web. 17 October 2014.

Apple, Inc. “ Form 10-K,"   Mergent Online database . 28 September 2013. Web.  17 October 2014.

Mintel (Electronic Database):

Mintel. “ Mobile Apps – US ."   Mintel database,  October 2014. Web.  17 October 2014.

SRDS Online (Electronic Database):

SRDS Media Solutions. “U.S. News & World Report Profile."  SRDS Media Solutions, n.d. Web. 17 October 2014.

University Reporter .  2014 Spring Reporter Apparel/Accessories . Web. February 23, 2016.

Article from a BU database

Overman, Steven. “The Culture of Conscience."  Leadership Excellence  31.10 (2014): 49-51. ABI-Inform Complete. Web.  17 October 2014.

Online Sources

Apple Inc.  Apple, Inc. Form 10-K for the Fiscal Year Ended September 28, 2013 . Apple Inc., 28 September 2013. Web. 17 October 2014.

• Citing Your Sources This Boston University research guide offers links to information about citing sources.
• Citing Sources Within Your Paper (Duke University) Duke University is responsible for this well-organized site about citing in the body of your text.
• Purdue University Online Writing Lab (OWL) The Online Writing Lab at Purdue University provides examples of APA, MLA and Chicago Style citations as well as formatting instructions from the style manuals.

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• Last Updated: Nov 17, 2023 12:09 PM
• URL: https://library.bu.edu/business-case-studies

Showing papers in "Business Research in 2019"

Citation Count

202  citations

186  citations

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39  citations

29  citations

27  citations

22  citations

19  citations

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16  citations