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Project management

Project management. Topic 4 Business Case. What is the Business Case?. A description of the reasons for the project A justification for undertaking the project based on the estimated costs, risks and expected business benefit

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Project management

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  1. Project management Topic 4 Business Case

  2. What is the Business Case? • A description of the reasons for the project • A justification for undertaking the project based on the estimated costs, risks and expected business benefit • Covers the entire scope of the project and the impact of the project to the business

  3. What is in the Business Case? • Reasons • Why the project outcome is needed • Options or alternatives • All the various options that have been considered • One option is recommended • Benefits • Each benefit described in measurable terms

  4. What is in the Business Case? • Risks • The key risks and their impact if they occur • Cost and timescale • Outline of costs and timescale • Investment appraisal • The development, operational, maintenance and support costs against the value of benefits over time – compared with doing nothing! • Evaluation GAP analysis • Are the benefits reasonable or overly optimistic? • What is the best case/worst case scenario?

  5. Who creates the Business Case? • The executive is responsible for the Business Case • The executive may delegate the development of the Business Case to the Project Manager • Data for the business case is provided by the experts in the business • Is a ‘live’ document • Business Case is updated in initiation phase as more information is available • Formal Approval of the Business Case is made at the end of the Initiating a Project Stage

  6. How is the business case developed? • Hold a stakeholder workshop to: • Discuss and clarify the business objectives • Discuss the impact of the project and the expected benefits

  7. Business Case documentation Business Case

  8. Overview • IF the business case is not valid the project is not valid • The business case is reviewed before every major decision is made • If circumstances change and the business case becomes invalid the project should be terminated

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