Creating a business case involves analyzing which two main aspects?

Creating a business case fundamentally revolves around a thorough analysis of benefits and costs. This is critical because a business case is designed to provide a structured approach to evaluating the potential value and implications of a proposed initiative or project.

Benefits refer to the positive outcomes or advantages that the project is expected to deliver, which could include increased revenue, improved efficiency, enhanced customer satisfaction, or competitive advantages. It's essential to articulate these benefits clearly to justify the investment and to assess the overall value of the initiative.

Costs encompass all expenses incurred in implementing the project, such as financial investments, resource allocations, and potential opportunity costs. A comprehensive understanding of the costs involved is crucial for decision-makers to evaluate the feasibility and sustainability of the project.

Balancing these two aspects—benefits and costs—allows stakeholders to make informed decisions, ensuring that the expected benefits outweigh the costs involved, thus supporting effective strategic planning and resource management.