Business Case Development

What is a Business Case?

A business case is a strategic document and decision-making tool that builds a clear, evidence-based argument for investment. Its development systematically guides stakeholders through the investment process, starting with identifying the need for change, exploring and evaluating potential options, assessing both economic and financial viability, and finally, detailing a plan for successful implementation.

Why is a Well-Developed Business Case Important?

A well-developed business case is essential to demonstrate that a proposed initiative is justified, delivers value for money, and is financially and commercially feasible. It fosters accountability and transparency, ensuring that resources are allocated based on solid evidence and strategic priorities. By clearly articulating the rationale and expected outcomes, a business case helps secure stakeholder buy-in and supports informed decision-making.

Our Approach

We follow a structured approach working through each stage of the business case development process:

• Defining the Problem (Case for Change)
  This foundational stage establishes the need for change, assesses strategic alignment, and outlines expected benefits. Key activities include stakeholder engagement, high-level cost estimation, and risk identification. The result is a compelling case for change that sets the stage for further analysis.

• Identifying and Analyzing Options (Strategic Business Case)
  We explore a comprehensive range of options to address the identified need. Using cost-benefit analysis and financial appraisal, each option is assessed for feasibility, impact, and value for money. This stage produces a strategic business case with a refined shortlist of viable options for consideration.

• Selecting the Best Option and Planning Implementation (Detailed Business Case)
  In this final stage, we prepare the preferred option for implementation. This includes completing the full cost-benefit analysis and financial appraisal, developing a procurement plan, and establishing risk and change management frameworks. We also finalize the benefits realization plan, resulting in a fully developed, evidence-based business case ready for approval and execution.

This approach ensures each business case is evidence-based, strategically aligned, and built for impactful outcomes. For our government clients, all business cases are developed in line with business case guidelines and consistent with gateway assurance processes.

Our Expertise

Our team brings specialized expertise across all stages of business case development, offering a range of analytical and strategic services for high-quality outcomes:

• Facilitation and Stakeholder Engagement: We coordinate effective stakeholder engagement throughout the business case process, aligning interests and building consensus for successful outcomes.

• Cost-Benefit Analysis and Financial Appraisal: Our team conducts rigorous economic analysis and financial appraisal, evaluating options for financial feasibility and value for money.

• Commercial and Management Analysis: We support procurement strategy, risk management, and operational planning, establishing governance frameworks that ensure efficient implementation and long-term project success.

• Benefits Realization and Performance Management: Our approach includes setting measurable objectives and creating monitoring frameworks to track project outcomes, ensuring each initiative delivers on its intended benefits.

Resources for Developing Business Cases

If you are planning the development of a business case, check out our selection of useful Resources for Developing Business Cases.

Business Case Training and Capacity Building

In addition to developing business cases, we provide tailored training and capacity-building services in business case development. Our workshops - customised for in-house or public sessions, in-person or virtual - equip participants with essential skills and knowledge tfor developing effectivebusiness cases. 

Ready to Get Started?

Contact us today to discuss your project or training needs.

Examples of our Business Case Development Work

NSW Government | OneCX program

In 2019, a review identified more than 1,000 NSW Government websites on 35 different content management systems. 

The review highlighted that government could:

• create a better digital experience through consistent design, content and style

• find cost efficiencies by reducing unnecessary duplication of functionality.

As a result, the NSW Government Digital Channels team developed the OneCX program to create a unified and customer-centric digital experience for people in NSW, making it easier for people in NSW to:

• complete specific tasks online in fewer clicks on fewer websites or in less time

• find consistent information through search or by browsing customer-centric topics on one website

• voice their opinion on what the government is doing through a central channel.

As more content is published on nsw.gov.au, there will be fewer websites centred around the structure of government. Instead, digital information, services and transactions are now being organised by customer-centred topics on:

• the nsw.gov.au website for information

• the Service NSW website for services and transactions.

Through 2020, we supported the NSW Government Digital Channels team to develop their detailed business case (including cost-benefit analysis) and to progress through Gateway review processes. This was all done whilst the Digital Channels team were preparing to launch the nsw.gov.au beta site and then delivering a whole of government digital communications response to the COVID-19 pandemic.

As the OneCX Program is progressively rolled out, it’s making it easier for customers to access the information they need, without having to understand or navigate the structure of government.   

Learn more about the OneCX Program.

NSW Environment Protection Authority - Asbestos Coordination, Clean-Up, and Awareness Initiative 

Australia’s widespread use of asbestos during the twentieth century (from 1930s to 1980s), and its history of mining and producing asbestos since the 1900s, has left an asbestos legacy across NSW, in both the built and natural environment, that will need to be managed for many years to prevent asbestos-related disease in the state.

In 2015, there were an estimated 4,152 deaths in Australia due to asbestos-related disease[1]  – more than 3-times the number of fatalities on Australian roads in the same period (2015: 1,209[2]).

NSW Environment Protection Authority led the development of a proposed 4-year initiative to help prevent asbestos-related disease in the state through the improved safe management of legacy asbestos and more comprehensive asbestos education and awareness.

We supported the funding submission through the development and preparation of a business case, including cost-benefit analysis.   The submission was successful with funding commencing in 2018/19.

[1]  Australian Government, Asbestos Safety and Eradication Agency, National Asbestos Profile for Australia, November 2017

[2]  Australian Government, Department of Infrastructure and Regional Development, Bureau of Infrastructure, Transport and Regional Economics, December 2015

Resources for Developing Business Cases

If you are planning the development of a business case, useful resources include:

NSW Government Guidance on Business Cases

• Business Case Guidelines (TPG24-29) - sets out mandatory requirements and guidance to assist agencies in the preparation of business cases. This latest guidance simplifies the structure, process and contents of the previous Business Case Guidelines (TPP18-06). Key changes can be found here.

• Gateway Policy (TPG22-12) - provides guidance and core requirements for the delivery and monitoring of Gateway reviews in NSW. It sets out the requirements that the Gateway Co-ordination Agencies (GCAs), the Delivery Agencies, and the Policy Owner must follow. The GCAs are:

  • Infrastructure NSW which administers the Infrastructure Investment Assurance Framework (updated 2024)

  • Department of Customer Service which administers the Digital Assurance Framework (updated 2024)

  • NSW Treasury which administers the Recurrent Expenditure Assurance Framework (TPG24-24)

• Fast Track Business Case and Investment Assurance (TPG24-30) - establishes criteria and a process to seek full or partial exemptions from business case and assurance requirements in limited circumstances.

• Carbon Emissions in the Investment Framework (TPG24-34) - coming soon.

• Benefits Management Guide (TPG24-31) - coming soon.

• First Nations Investment Framework (TPG24-28) - guide to good practice in working with First Nations people and communities on the design, appraisal and evaluation of initiatives.

• Gender Impact Assessment Policy (TPG23-27) - provides guidance to general government sector agencies on when and how to complete gender impact assessments for new policy proposals.

• Management of Contingency Provisions for Major Projects (TC14-29) - sets out requirements for management of contingency provisions across the project life cycle of major projects.

• Infrastructure NSW Business Case Summary - template and guidance for developing an Infrastructure Business Case Summary.

• Infrastructure NSW Contingency Management Guidebook (2014) - guidelines for optimising capital investment funding through effective contingency management.

Infrastructure Australia Guidance on Business Cases

• Infrastructure Australia (2021) Assessment Framework - guidance on the new four-stage process for developing high-quality infrastructure proposals for submission to Infrastructure Australia including:

  • Stage 1 submission template and checklists for each of Stages 2, 3 and 4.

  • Detailed supporting technical guidelines:

    • Guide to program appraisal (new)

    • Guide to multi-criteria analysis (new)

    • Guide to economic appraisal (updated)

    • Guide to risk and uncertainty analysis (updated)

Commonwealth Government Guidance on Business Cases

• Commonwealth Investment Framework (RMG 308) - overview of the policy and best practice guidance for Commonwealth entities to consider when developing, implementing and managing investment proposals. This includes guidance on Investment Proposal & Business Case Development and a series of Toolkits to support the development of investment proposals and business cases. The Toolkits include:

  • Developing a Business Case - the essential elements of a business case (modified from Infrastructure Australia guidance for application in a broader range of policy proposals).

  • Guidance for Financial Modelling - key elements of a financial model.

  • Cost Estimation - guidance on cost estimation for major projects.

• Commonwealth Government Digital and ICT Investment Approval Process - assists entities to develop robust business cases and support the effective implementation of digital and ICT-enabled proposals. Key steps include:

  • First Pass Approval - first pass business case will provide a sufficient level of information on the benefits, costs, risks and range of digital and ICT implementation options for a proposal to enable an informed in-principle decision on the investment. Template downloadable here.

  • Second Pass Approval - second pass business case will contain risk mitigation strategies, detailed cost estimates, appropriate funding options and provide assurance that the planning, consideration and consultation required for successful implementation has been undertaken.

  • Available resources Includes Department of Finance ICT Business Case Guide, First Pass Business Case Template and Second Pass Business Case Template.

Australian States & Territories Guidance on Business Cases

• Queensland Government Business Case Development Framework - guides business case investment proposals through the three stages of (1) Strategic Assessment, (2) Options Analysis and (3) Detailed Business Case.

• Victorian Government Business Case Guidance - templates and technical supplements in support of the business case stage for infrastructure investment.

• Victoria Government (Developing ICT Investments) - provides technical guidance and assistance in developing business cases for ICT projects.

• South Australian Government Guidelines for the Evaluation of Public Sector Initiatives (Part A) - overview of the investment evaluation framework.

• Western Australian Government Business Case Template - template to support business case development for agencies planning to purchase goods and/or services that are likely to be high-risk, high-value or of a unique nature.

• Tasmanian Government Structured Infrastructure Investment Review Process - overview of review process and guidance for Investment Concept and Options Analysis, and for development of Business Case.

• Northern Territory Government Strategic Business Case Template - template for development of strategic business cases in the Northern Territory.

UK and New Zealand Guidance on Business Cases & Benefits Management

• United Kingdom HM Treasury - Business Case Guidance for Projects and Programmes (2018) - guides to developing project and programme business cases are supplements to the Green Book. They provide step-by-step guides to developing business cases using the Five Case Model. They are intended for anyone involved in developing, reviewing or approving business cases.

• United Kingdom Guide for Effective Benefits Management in Major Projects (2017) - key benefits management principles and activities when delivering major projects.

• New Zealand Government Better Business Cases - New Zealand has adopted the Five Case Model as the organising framework for a Better Business Case. The Treasury provides guidance, advice and templates in support of progression through the various stages of the investment management life cycle.

• New Zealand Treasury Managing Benefits from Projects and Programmes: Guide for Practitioners - guidance for use by practitioners, decision-makers and those implementing benefits management.