What are the five key components of a Business Case?

The five key components of a Business Case are Strategic, Economic, Financial, Commercial, and Management. Each of these components plays a vital role in developing a comprehensive business case that successfully justifies a proposed project or investment.

The Strategic component addresses the alignment of the project with the organization's objectives and long-term goals. It ensures that the project supports the strategic vision of the business and outlines how it will contribute to organizational success.

The Economic aspect evaluates the overall value and impact of the project. It considers both tangible and intangible benefits, providing a cost-benefit analysis that helps stakeholders understand the financial implications and the potential return on investment.

The Financial component focuses on the specifics of funding, budgeting, and financial forecasting related to the project. It includes detailed financial projections, funding requirements, and an assessment of financial risks, ensuring that financial viability is considered.

The Commercial part examines the market environment in which the project will operate. It outlines market conditions, competition, and demand for the products or services associated with the project. This analysis helps ensure that the project is viable in the marketplace and can achieve its intended commercial success.

Lastly, the Management component addresses the governance, organizational structure, and resource allocation necessary for project execution. It outlines how the project will be managed and